Indobell Insulation IPO - Day 3 Subscription at 8.78 Times

Indobell Insulation's initial public offering (IPO) has received steady investor interest over the three-day period. The IPO witnessed consistent growth in demand, with subscription rates progressing from 2.33 times on day one, to 5.27 times on day two, and reaching 8.78 times by 11:39 AM on the final day.
 

Indobell Insulation IPO, which opened on 6th January 2025, has seen particularly strong retail participation. The Retail Investors segment has shown robust interest, reaching 14.92 times subscription, while Non-Institutional Investors achieved 2.64 times subscription. Being a fixed price SME issue, it has been structured differently from regular mainboard IPOs.

Indobell Insulation IPO’s steady response comes amid selective interest in the Indian stock market, particularly towards companies in the specialized insulation manufacturing sector. Being listed on the BSE SME platform, the issue has attracted notable retail investor attention.
 

Subscription Status of Indobell Insulation IPO:

*As of 11:39 AM

Here are the subscription details for Indobell Insulation IPO as of Day 3 (8th January 2025, 11:39 AM):

Note:
 

"Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
The portions of anchor investors and market maker are not included in the total shares offered.

Key Highlights Indobell Insulation IPO Day 3 Subscription

• Overall subscription reached 8.78 times on the final day
• Retail investors showing strong interest at 14.92 times subscription
• Non-Institutional Investors achieved 2.64 times subscription
• Total bids worth ₹84.61 crores received
• Applications reached 6,368 showing focused retail interest
• Market response indicating selective demand
• Strong retail momentum continuing
• Final day demonstrating steady progress
• Both categories showing improved participation

Indobell Insulation IPO - Day 2 Subscription at 5.27 Times

Key Highlights

• Overall subscription improved to 5.27 times
• Retail investors showed growing interest at 9.73 times
• Non-institutional investors increased to 0.81 times
• Day two witnessed steady growth
• Market response showing building momentum
• Subscription trend indicating retail confidence
• Both segments demonstrating progress
• Retail participation strengthening
• Second day maintaining positive momentum

Indobell Insulation IPO - Day 1 Subscription at 2.33 Times

Key Highlights:

• Overall subscription opened at 2.33 times
• Retail investors began well at 4.26 times
• Non-institutional investors started at 0.40 times
• Opening day showed promising response
• Initial momentum indicating retail interest
• Market confidence visible in retail segment
• First day setting steady pace
• Early retail participation notable
• Both categories showing measured interest

About Indobell Insulation Limited 

Incorporated in May 1972, Indobell Insulation Limited has established itself as a manufacturer of specialized insulation products, including nodulated and granulated wool (mineral and ceramic fibre nodules) and prefabricated thermal insulation jackets. The company serves residential, commercial, and industrial applications with customized insulation solutions tailored to specific client requirements, including 3D and 2D designs, manufacturing drawings, and thermal analysis.

Operating from manufacturing units in West Bengal and Maharashtra, the company maintains ISO certifications for Quality Management (9001:2015), Environmental Management (14001:2015), and Occupational Health & Safety Management (45001:2018). As of December 30, 2024, they employ 31 people across various departments.

Their financial performance shows steady development with revenue of ₹17.99 crores in FY2024 and PAT of ₹1.03 crores. For the first half of FY2025, the company reported revenue of ₹5.56 crores with PAT of ₹0.42 crores.

Their competitive strengths lie in their experienced management team, smooth operational flow, well-defined organizational structure, established manufacturing facilities, quality accreditations, and diversified product portfolio.
 

Highlights of the Indobell Insulation IPO

• IPO type: Fixed Price Issue SME IPO
• IPO size: ₹10.14 crores
• Fresh Issue: 22.05 lakh shares
• Face value: ₹10 per share
• Issue price: ₹46 per share
• Lot size: 3,000 shares
• Minimum investment for retail investors: ₹1,38,000
• Minimum investment for HNI: ₹2,76,000 (2 lots)
• Market maker reservation: 1,11,000 shares
• Listing at: BSE SME
• IPO opens: 6th January 2025
• IPO closes: 8th January 2025
• Allotment date: 9th January 2025
• Refund initiation: 10th January 2025
• Credit of shares: 10th January 2025
• Listing date: 13th January 2025
• Lead Manager: Finshore Management Services Limited
• Registrar: Integrated Registry Management Services Private Limited
• Market Maker: Black Fox Financial Private Limited