Bumper listing of INDIGO PAINTS, Hemant Jalan said ‘Big players are not hindered for growth of company’

INDIGO PAINTS has had a great listing. These shares have been listed at Rs 2607 against the issue price of 1490. It has rewarded investors on the day of listing. This stock reached more than double the issue price in 6 days and today once this stock has crossed Rs 3000.

INDIGO PAINTS saw great boom. The share price has risen 110 percent above the issue price. The company’s stock price is more than double the issue price.

On the strong response received from the investors, the company’s CMD Hemant Jalan Gadgad and he had exclusive talks with CNBC-Awaaz. He thanked the market and investors for the excellent listing and said that he expected a good IPO listing. The company has started business from small cities and now the company will focus on strengthening its position in big cities.

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CMD of INDIGO PAINTS Hemant Jalan said that we are slowly moving towards every big city. The company’s performance in the small town, rural areas has been impressive. He said the number of dealers of the company would increase by March. Currently, the management is giving special emphasis to the company’s dealer network.

Hemant Jalan further said that the company aims to create 25,000 dealers in the next 5 years. The company will have 14,000 dealers by March.

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On the question of the Grasim company entering this sector, Jalan said that GRASIM will take time to get into the sector. His company is not worried about the competition from GRASIM right now. Apart from this, there is no hindrance in the growth of the big player company and Grasim may take 2 to 3 years to come to the market.