Home / Markets / Stock Markets /  Goldman Sachs (Singapore) buys stake in this paint stock. Do you own?

Goldman Sachs (Singapore) has bought fresh stake in Indigo Paints Ltd. The leading global investment banking, securities and investment management firm has bought 2,67,000 shares (0.56 per cent of total paid up capital) of Indigo Paints Ltd paying 1,343 apiece. This means the global asset management company has invested 35,85,81,000 or 35.85 crore in this paint company that had a dream debut on Dalal Street in February 2021. Leading insurance company ICICI Prudential Life Insurance Company also raised its stake in the company after buying 2,50,000 shares of the company at 1,343 per share price in a bulk deal executed on 9th November 2022.

As per the details of BSE bulk deals available on the BSE website, Goldman Sachs (Singapore) has bought these shares in a bulk deal executed on 9th November 2022.

ICICI Prudential Life Insurance raises stake

As per the bulk deals detail, ICICI Prudential Life Insurance has bought 2.50 lakh Indigo Paints shares at a price of 1,343 apiece. This means the private insurer has invested 33,57,50,000 or 33.57 crore in the paint company. In Indigo paints shareholding pattern for July to September 2022, ICICI Prudential Life Insurance Company Ltd holds 6,75,906 shares or 1.42 per cent stake in the company. This means, the insurer has bought addition 0.53 per cent stake in the company.

Abu Dhabi Investment Authority, Ashoka India Opportunities Fund and Small-cap World Fund are some other prominent Foreign Portfolio Investors (FPIs) that have shareholding in Indigo Paints. As per the shareholding pattern of Indigo Paints for July to September 2022 quarter, Abu Dhabi Investment Authority holds 6,41,953 shares or 1.35 per cent stake, Ashoka India Opportunities Fund holds 8,84,600 company shares or 1.86 per cent stake whereas Small-cap World Fund holds 11,03,244 company shares or 2.32 per cent stake in the company.

Indigo Paints share price history

The initial public offer of Indigo Paints was launched in January 2021 at a price band of 1488 to 1490 per equity share. The public issue had a dream debut on 2nd February 2021. It listed on BSE and NSE at 2607.50 apiece and closed at 3118.65 on BSE 3117.15 on NSE, delivering more than 100 per cent erturn to its allottees on the listing day. However, the stock has been under sell-off heat since listing. It has shed over 45 per cent after listing whereas in last one year, it has fallen to the tune of 38 per cent. In YTD time, Indigo Paints share price has corrected over 30 per cent whereas in last six months month, it has remained range-bound with weak bias.


Asit Manohar

Chief Content Producer at Live Mint Digital Team
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