This Paint Stock, which has given a negative return of 60 percent since its listing in 2021, is in focus after a major VC firm has completely sold its 3.18 percent stake in the company.
With a market capitalisation of Rs. 5,133 Crore, the stock of Indigo Paints opened at Rs. 1,090, down 0.85 percent from yesterday’s close, and after opening, it made a high of Rs. 1,094.30, up 1.25 percent.
Stake Sale Update
Peak XV Partner combined held 15,13,635 Shares or 3.18 percent stake in the company, with Peak XV Partner investments IV owning 7,28,175 or 1.53 percent stake and Peak XV Partner investments V owning 7,85,460 or 1.65 percent stake in the company. Kotak Mahindra Mutual Funds was the buyer of all the shares that were sold by the VC firm.
Peak XV Partners, formerly known as Sequoia Capital India & Southeast Asia, is a leading venture capital firm headquartered in Bengaluru. The firm is known for backing several high-profile unicorns such as Zomato, Razorpay, Groww, Blinkit, MobiKwik, 1mg, and CoinSwitch. Peak XV typically invests during the seed and Series A stages, with a significant portion of its portfolio based in India, followed by the U.S. and Singapore
Headquartered in Pune, Maharashtra, Indigo Paints Limited, established in 2000 by Hemant Jalan, is a leading Indian decorative paint company with its wide range of products such as interior and exterior emulsions, enamels, wood coatings, primers, putties, and waterproofing solutions.
Indigo Paints Limited operates five manufacturing facilities strategically located in Jodhpur (Rajasthan), Kochi (Kerala), and Pudukkottai (Tamil Nadu). The company also has two manufacturing units in Jodhpur and two in Pudukkottai.
The company reported a 0.77 percent YoY increase in revenue from Rs. 385 Crore in Q4FY24 to Rs. 388 Crore in Q4FY25. On a QoQ basis, the company reported an increase of 13.11 percent in revenue from Rs. 343 Crore in the previous quarter.
Their Net profit saw an increase of 5.55 percent YoY from Rs. 54 Crore to Rs. 57 Crore for the same period. On a QoQ basis, the company reported an increase of 58.33 percent in Net profit from Rs. 36 Crore in the previous quarter.
Written By Abhishek Das
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