Indigo Paints IPO GMP History
Indigo Paints IPO has been listed on February 2, 2021 at a listing price of ₹2607.5, against the issue price of ₹1490 — a gain of ₹1117.5 (+75%). The GMP peaked at ₹820 on 23 January 2021 and reached a low of ₹650 on 28 January 2021. The day-wise GMP trend below shows how grey market sentiment evolved from subscription to listing.
Indigo Paints IPO raised ₹1169.12 Cr. through its IPO at a price band of ₹1488 to ₹1490 per share, with a lot size of 10 shares. The IPO was open for subscription from 20 Jan 2021 to 22 Jan 2021.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
GMP trend
Grey market premium sampled three times a day (11 AM, 5 PM, 10 PM). Last updated 10 Nov, 7:17 AM IST.
Day-wise GMP
The last reading of each day, newest first. Arrows compare with the previous day.
| Date | GMP | ↑↓ | % | Kostak | Sub. Sauda |
|---|---|---|---|---|---|
| 01 Feb 2021 | ₹ 800 | ▲ | 54% | — | — |
| 30 Jan 2021 | ₹ 750 | ▲ | 50% | — | — |
| 29 Jan 2021 | ₹ 700 | ▲ | 47% | — | — |
| 28 Jan 2021 | ₹ 650 | ▼ | 44% | — | — |
| 27 Jan 2021 | ₹ 750 | ▼ | 50% | — | — |
| 25 Jan 2021 | ₹ 800 | ▼ | 54% | — | — |
| 23 Jan 2021 | ₹ 820 | ▲ | 55% | — | — |
| 22 Jan 2021 | ₹ 800 | ▲ | 54% | — | — |
| 21 Jan 2021 | ₹ 750 | ▼ | 50% | — | — |
| 20 Jan 2021 | ₹ 790 | ▲ | 53% | — | — |
| 19 Jan 2021 | ₹ 770 | ▼ | 52% | — | — |
| 18 Jan 2021 | ₹ 800 | ▼ | 54% | — | — |
| 15 Jan 2021 | ₹ 820 | ▲ | 55% | — | — |
| 14 Jan 2021 | ₹ 800 | — | 54% | — | — |
| 13 Jan 2021 | ₹ 800 | — | 54% | — | — |
| 12 Jan 2021 | ₹ 800 | — | 54% | — | — |
Indigo Paints IPO dates
Key dates from opening to listing. Today is 10 November.
- Open 20 Jan 2021
- Close 22 Jan 2021
- Allotment 28 Jan 2021
- Refund/credit 29 Jan 2021
- Listing 02 Feb 2021
Indigo Paints IPO actual listing price
How the grey market's final call compared with the listing-day open.
| Issue price | ₹1490 |
|---|---|
| GMP-based estimate (pre-listing) | ₹2290 (+53.7%) |
| Listing gain / loss | +₹1117.5 per share |
| Listing date | 02 Feb, 2021 |
| Actual listing price | ₹2607.5 (+75%) |
Is Indigo Paints IPO GMP reliable?
Grey market premium for Indigo Paints IPO should be interpreted with caution. The GMP is an unregulated, unofficial market not governed by SEBI. Here's how to read the current signal:
- 01Subscription rate matters: A high GMP paired with strong subscription — especially QIB (Qualified Institutional Buyer) oversubscription — is a more reliable bullish signal than GMP alone. Read our in-depth analysis: GMP vs Subscription Data — Which Predicts Listing Gains Better?
- 02Timing matters: GMP in the first 1–2 days of subscription is less reliable. GMP on the final subscription day and the day before listing tends to be the most accurate predictor.
- 03Grey market is thin: For smaller IPOs, even a handful of large orders can swing the GMP significantly. Treat low-volume GMP signals with extra caution.
- 04Cross-check before acting: Review the Indigo Paints IPO full review for a fundamentals-based assessment before making any grey market trades.
Indigo Paints IPO Kostak rate explained
Two ways the grey market trades an IPO application before listing.
The Kostak rate for Indigo Paints IPO was not available during the subscription period. Kostak is the fixed amount a grey market buyer pays for an IPO application regardless of allotment outcome.
The Subject to Sauda price was not available for this IPO. Subject to Sauda only applies if allotment is confirmed — the buyer pays a premium on top of the issue price per lot allotted.
Grey market trading is unofficial and unregulated by SEBI. Proceed with full awareness of the associated risks.
About Indigo Paints IPO
Indigo Paints Limited was incorporated as a private company at Pune on 28 March 2000. It makes a full range of decorative paints, including emulsions, enamels, wood coatings, distempers, primers, putties and cement paints.
It was the first company in India to make some differentiated products, such as Metallic Emulsions, Tile Coat Emulsions, Bright Ceiling Coat Emulsions and Floor Coat Emulsions. Sales of these products rose from 26.68% of sales in 2018 to 28.62% in Fiscal 2020.
The company first built demand in Tier 3 and Tier 4 cities and rural areas, then moved into larger cities. Its distribution covered 27 states and seven union territories on 30 September 2020, and it installs tinting machines at dealers. Cricketer Mahendra Singh Dhoni is its brand ambassador.
It has three plants, at Jodhpur in Rajasthan, Kochi in Kerala and Pudukkottai in Tamil Nadu. The IPO was Rs 1,169.12 crore, with Rs 299.73 crore of fresh issue and Rs 869.39 crore of offer for sale. Rs 150.00 crore was planned for expanding the Pudukkottai plant.
Frequently asked
What is the GMP of Indigo Paints IPO?
The current Grey Market Premium (GMP) of Indigo Paints IPO is ₹ 800.
What is the Kostak Price of Indigo Paints IPO?
Kostak rate is the profit made by selling an IPO application before allotment. The current Kostak rate for Indigo Paints IPO is not available.
What is the Subject to Sauda Price of Indigo Paints IPO?
Subject to Sauda is the premium amount decided if the allotment is confirmed. The current Subject to Sauda rate is not available.
What was the actual listing price of Indigo Paints IPO?
Indigo Paints IPO listed on February 2, 2021 at ₹2607.5, against the issue price of ₹1490 — a gain of +75%.
How did the GMP of Indigo Paints IPO trend before listing?
The GMP of Indigo Paints IPO was rising in its final days before listing. The GMP peaked at ₹820 on 23 January 2021. View the day-wise table above for the complete GMP history.
Explore Indigo Paints IPO further
The grey market is one signal. Read it alongside the demand, the reviews and the filings before you decide.
It has listed — go back to the fundamentals.
Category-wise demand from QIB, NII and retail investors, updated through the day.
What brokers and analysts are saying about this issue, in one place.
Check with your PAN whether shares were credited to your demat account.
The grey market called it. Now check the fundamentals.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Read the grey market alongside the subscription book and the offer document before you apply.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
