January 13, 2025
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Indobell Insulation listing Review
On 13 January 2025, the IPO is listed at RS. 87.40 premium of 90% over the issue price.
Indobell Insulation IPO allotment Link
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Subscription status of Indobell Insulation IPO
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Indobell Insulation IPO Price Rs. 46 Lot 3000 shares, Rs. 10.14 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 51.31 | 52.37 | 54.13 | 24,268 | |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of Indobell Insulation IPO?
Founded in May 1972, Indobell Insulation Limited specializes in the manufacturing of insulation products, including nodulated and granulated wool (comprising mineral and ceramic fibre nodules) and prefabricated thermal insulation jackets. The company’s products cater to residential, commercial, and industrial sectors, in addition to offering a variety of related insulation materials.
Indobell Insulation’s product offerings include:
- Nodulated/Granulated Wool, which features:
- Ceramic Fibre Nodules
- Mineral Fibre Nodules
- Prefabricated Thermal Insulation Jackets
The company also delivers customized insulation solutions designed to meet the specific needs of its clients. This includes tailored sizes, shapes, and densities for both 2D and 3D projects, supported by manufacturing drawings and thermal analysis.
Indobell Insulation operates manufacturing facilities in West Bengal and Maharashtra. It holds certifications for ISO 9001:2015 (Quality Management System), ISO 14001:2015 (Environmental Management System), and ISO 45001:2018 (Occupational Health & Safety Management System) for the production of nodulated fibres and thermal insulation materials.
As of December 30, 2024, the company employs 31 individuals across various departments.
Get more information about the company @ https://www.indobell.com/
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Indobell Insulation IPO Details |
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| IPO opens on | 6 January 2025 |
| IPO closes on | 8 January 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2205000 Shares / Rs 10.14 Crore |
| * Fresh Issue | 2205000 Shares / Rs 10.14 Crore |
| * Offer for Sale – | – shares / Rs. – crore |
| Market Maker Portion | 111,000 Shares |
| Net offer to Public | 2094000 Shares/ Rs.9.63 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 46 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 3000 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (50%) | 1047000 | 4.82 |
| HNI (15%) | 314100 | 1.44 |
| RII (35%) | 732900 | 3.37 |
| Total Shares | 2094000 | 9.63 |
| Retail portion will be oversubscribed by |
244 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 3000 Shares | Rs.138000 |
| Min HNI Application | 6000 Shares | Rs. 276000 |
Who are the Promoters of Indobell Insulation?
The Promoters of the company are Mr. Vijay Burman, Mr. Man Mohan Burman, Ms. Megha Burman and Ms. Raksha Burman.
What are the Objects of Indobell Insulation IPO?
The Offer comprises of fresh issue of shares.
The Objects of the Issue are:
- Funding Capital Expenditure towards the purchase of additional plant and machinery
- To meet the Working Capital Requirements
- General Corporate Purposes
Tentative timetable |
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| IPO opens on | 6 January 2024 |
| IPO Closes on | 8 January 2025 |
| IPO Allotment on | 9 January 2025 |
| Refund Initiation | 10 January 2025 |
| Credit of Shares | 10 January 2025 |
| Listing on | 13 January 2025 |
| Registered Office of the Company Indobell Insulation Limited 88C Lake View Road, Kolkata – 700029 |
| Who is the Lead Manager of this IPO? Integrated Registry Management Services |
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Who is the Registrar to IPO? |
Indobell Insulation IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Indobell Insulation IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 9.77 | 0.15 | ||
| 2022-23 | 21.05 | 0.90 | ||
| 2023-24 | 17.99 | 1.03 | 2.52 | 18.21 |
| Book Value of the Share on 31.03.2024 |
13.85 | |||
| BV of the Share at cap price after IPO |
Rs. | 25.77 | ||
| Offer Price/upper band | Rs. | 46 | ||
Key Performance
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| Price/EPS of 23-24 | 18.24 |
| Price/BV Ratio | 3.32 |
| Debt/Equity Ratio | 0.93 |
How Indobell Insulation IPO compares with the Peers?
| As on date of RHP | FV | Total | PE |
| Rs. | Income in Cr. | Ratio of | |
| Indobell Insulation | 10 | 17.88 | 18.24 |
| Beardsell | 2 | 231.46 | 20.87 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Indobell Insulation IPO Review by Paresh Gordhandas, CA & Research Analyst.
Founded in May 1972, Indobell Insulation Limited specializes in the manufacturing of insulation products, including nodulated and granulated wool (comprising mineral and ceramic fibre nodules) and prefabricated thermal insulation jackets.
The size of the IPO is very small. Net offer to the public is of Rs. 9.63 crore with HNI portion of Rs. 1.44 crore and retail portion being Rs. 3.37 crore. With only 244 applications, retail portion can one time subscribed.
On financial front, the topline and the net profit have surged sharply in the year prior to the IPO eg 2023-24 and with this surge, the shares appear to be properly priced. We are not sure whether the company can maintain such sharp rise of profits in the future or not.
The lead manager, Beeline Capital Advisors have excellent track record of positive listings. In the grey market, premium trades are not seen for this IPO.
+ from fundamental angle: OK
+ from grey market angle: Not attractive
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