Indobell Insulation IPO Day 2: Subscription status, GMP and other details about SME IPO | Stock Market News
Source: Live Mint
Indobell Insulation IPO: The initial public offering (IPO) of Indobell Insulation has received a strong response from the public, with the issue getting fully subscribed on the first day of subscription itself on Monday, January 6.
The ₹10.14 crore Indobell Insulation IPO is entirely a fresh issue of 22.05 lakh shares. The IPO, open from January 6 to January 8, is a fixed price issue of ₹46 apiece. The minimum lot size for application is 300o shares, requiring a minimum investment of ₹1,38,000 by retail investors.
The allotment date for Indobell Insulation IPO is fixed as January 9 while the listing is expected to take place on the BSE SME platform on January 13.
Indobell Insulation IPO Objective
The company plans to use the funds raised for capital expenditure towards the purchase of additional plant and machinery, meeting the working capital requirements, and general corporate purposes.
Indobell Insulation IPO Subscription
As of 2.10 pm on Tuesday, the second day of the ook-building process, Indobell Insulation IPO was subscribed 4.41 times. The retail portion was booked 8.11 times and the non-institutional investor (NII) portion 0.71 times.
Indobell Insulation IPO GMP
Indobell Insulation IPO grey market premium or GMP today stood at nil. This means the company shares are trading at par with the IPO price of ₹46 apiece, and will list not list at a premium.
About Indobell Insulation
Indobell Insulations is a manufacturer and contractor of insulation products like nodulated/granulated wool and prefabrication thermal insulation jackets which are used to insulate a variety of applications, including homes, commercial buildings, and industrial plants.
The primary source of revenue of the company’s revenue is through the sales of the insulation products manufactured i.e. Mineral Fibre Nodules, Ceramic Fiber Nodules and Thermal Insulation Jacket which is done in a customised process according to the demand of the customer requirements which consists 61.23% of its total revenue from operation for Fiscal 2024.
The company witnessed a 15% decline in its revenue in Fiscal 2024 to ₹17.98 crore from ₹21.05 crore in Fiscal 2023. Meanwhile, the profit after tax (PAT) rose by 14.72% to ₹1.03 crore.
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