Indobell Insulation IPO, an SME issue, opened for public subscription from January 6 to January 8. After the three day bidding process and share allotment, the company got listed on the BSE SME platform today, January 13.
The shares of Indobell Insulation were listed today on the BSE SME platform at a premium of Rs 87.40, a 90% gain over the issue price of Rs 46 per share.
Indobell Insulation IPO – GMP
Ahead of the official listing on the stock exchanges, Indobell Insulation shares were trading at a premium of Rs 39 in the grey market, an unofficial marketplace. This indicated a potential listing price of Rs 85 per share, which is 84.78% higher than the upper price band of the issue.
Indobell Insulation IPO – Subscription numbers
The Indobell Insulation IPO, which opened for subscription between January 6 and January 8, was met with a subscription rate of 54.13 times overall on the final day of bidding.
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The retail portion of the IPO was subscribed 52.37 times, while qualified institutional buyers (QIBs) and non-institutional investors (NIIs) was subscribed 51.31 times.
Indobell Insulation IPO – Snapshot of the issue
The Indobell Insulation IPO is a fixed-price issue, raising Rs 10.14 crores through the issuance of 22.05 lakh shares. The price band for the IPO was fixed at Rs 46 per share. The funds raised through the IPO will be used to support capital expenditure, purchase new machinery, meet working capital requirements, and for general corporate purposes.
The allotment of shares of this offering was finalised on January 9. Finshore Management Services served as the book-running lead manager, while Integrated Registry Management Services Private acted as the registrar for the issue. Black Fox Financial Private was the market maker for this SME issue.
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About Indobell Insulation
Founded in 1998, Indobell Insulation is based in Eastern India and is engaged in the business of producing a range of insulation products such as mineral and ceramic fiber nodules, prefabricated thermal insulation jackets, and other products critical for sectors like power, commercial buildings, and industrial facilities.
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