Indobell Insulations IPO booked over 2.3 times on Day 1; check key details

The initial public offering (IPO) of Indobell Insulations Limited was fully subscribed within hours of launch on Monday, January 6, on high demand from retail investors.

The IPO was booked 2.33 times with bids for 48.81 lakh shares against 20.94 lakh shares on offer, as per the BSE data at the close of bidding at 5 pm.

The BSE SME issue is open for subscription till Wednesday, January 8. The insulation products manufacturer aims to raise ₹10.14 crore from the primary market through its maiden share sale.

Retail investors subscribed their quota 4.26 times by applying for 44.64 lakh shares against 10.47 lakh shares reserved for them. The Non-Institutional Investors’ (NIIs) category was subscribed only 39%. The NIIs applied for 4.17 lakh shares against 10.47 shares set aside for the segment.

Here’s a look at all the key details about the issue for the investors interested in applying for the shares of Indobell Insulation Limited.

Indobell Insulations IPO price and other details

Indobell Insulations IPO consists of only a fresh issue of 22.05 lakh shares, and no offer-for-sale (OFS) component. The IPO price has been fixed at ₹46 per share.

The minimum lot size is 3,000 shares for the retail investors, aggregating to an investment of ₹1,38,000. The minimum investment for High Net-worth Individuals (HNIs) is ₹2,76,000 for at least two lots of 6,000 shares.

Finshore Management Services Limited is the book-running lead manager for the Indobell Insulation IPO, while Integrated Registry Management Services Private Limited is the registrar. Black Fox Financial Private Limited is the market maker for the IPO.

Indobell Insulations IPO key dates

The IPO allotment status is expected to be finalised on Thursday, January 9. Refunds will be issued on Friday, January 10, and the allottees will also receive shares in the Demat accounts on the same day.

Indobell Insulation IPO listing date has been tentatively fixed as January 13. Shares of Indobell Insulation Limited will be listed on the BSE SME platform.

About Indobell Insulations and use of IPO proceeds

Indobell Insulations Limited is a leading manufacturer and contractor specializing in a wide range of insulation products and services. The company is known for producing high-quality Nodulated/Granulated Wool, including Ceramic Fibre and Mineral Fibre Nodules, as well as Prefabricated Thermal Insulation Jackets.

These products are essential for insulating various applications, from residential and commercial buildings to industrial plants. Indobell’s core business lies in the power sector, where it offers a full spectrum of insulation services, such as scaffolding, surface protection, refractory, passive fire protection and borosilicate lining for chimneys.

The proceeds from the IPO will be allocated to critical objectives, including funding capital expenditures to purchase additional plant and machinery, meet working capital requirements, and for general corporate purposes.

Indobell Insulations Limited reported a revenue of ₹5.56 crore for the six-month period ended on September 30, 2024, while the company’s net profit stood at 42.39 lakh.

For FY24, the company’s revenue stood at ₹17.98 crore compared to ₹21.05 crore in FY23. For FY2023-24, its net profit increased to ₹1.03 crore against ₹90 lakh in FY2022-23.