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    Indigo Paints IPO: Sequoia gains, Zerodha fumbles

    Synopsis

    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.

    ETtech
    The Indigo Paints IPO, which opened for subscription on Wednesday, brought with it bumper gains for Sequoia Capital and technical glitches for Zerodha.

    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.”

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