Indigo Paints shares drop 6% after Rs 180-crore stake sale via block deal

September 6, 2024

Shares of Indigo Paints fell by 5.7% to a low of Rs 1,452.10 on the BSE during early trading today. This decline followed a block deal estimated at Rs 179.2 crore, representing 2.5% of the company’s equity, at a price of Rs 1,493 per share. Reportedly, 1.2 crore shares were traded in the transaction, with Peak XV Partners Investments (formerly Sequoia India) likely being the seller.

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