Sequoia Capital is expected to garner up to Rs 650 crore by selling 7-8% stake in the Indigo Paints IPO. Such is the demand for the shares that Zerodha’s platform faltered in early hours of trade.
The Silicon Valley-based venture capital is expected to garner up to Rs 650 crore by selling 7-8% stake in the company at Rs 1,488-1,490 per share. It will continue to hold nearly 28% stake upon listing.
And such is the demand for Indigo Paints IPO that Zerodha's platform faltered, throwing up technical snags for users looking to buy shares of the company through the app's IPO console.
“For a little time, but not completely down. Multiple tries would have worked,” Zerodha CEO Nithin Kamath told ET when asked about the temporary outage. "The IPO has a lot of people trying to apply at the same time. It is slow, but working.”
In other news...
Fireside Ventureshas raised $118 million towards the final close of its second fund, including a $18 million green shoe option. Launched in 2017 by Kanwaljit Singh, who co-founded Helion Venture Partners, Fireside Ventures has started deploying capital from its second fund, with around Rs 70 crore invested in four companies — GynoVeda, Sarva Yoga, Fable Street and Slurrp Farm.
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And actor Kangana Ranaut’s Twitter account was restricted temporarily. This comes after she made controversial remarks about 'Tandav' creators through a post. In the now-deleted tweet, Kangana had said that it was "time to take their heads off", for allegedly insulting Hindu gods in the web series.
Indigo Paints IPO allotment status: Here's how to check it
