Indigo Paints Limited
Nippon India Mutual Fund reduced its stake in Indigo Paints from 8.65% to 6.04%, selling 12,40,303 shares. The transaction is valued at approximately ₹124.43 crore at the current share price.
A manufacturer and seller of decorative paints for residential and commercial applications across India. Indigo Paints operates through an extensive network of distributors and retailers, offering a comprehensive range of interior and exterior paint products designed for various surfaces and weather conditions. The company focuses on providing quality coatings at competitive price points to reach customers across urban and semi-urban markets throughout the country.
India's fifth-largest AMC with over Rs 6 lakh crore in AUM, backed by Japan's Nippon Life Insurance which holds majority stake. Formerly Reliance MF, rebranded in 2019 after Nippon's acquisition. Sailesh Raj Bhan has run the equity book for over two decades and is one of India's most experienced active managers. Known for sector rotational calls and a deep research bench.