As of 10:23 am on the third day of bidding, the Indobell Insulation IPO was subscribed 6.18 times.

Indobell Insulation IPO Day 3: Check latest subscription status and GMP

Indobell Insulation IPO: The Rs 10.14 crore initial public offering was fully subscribed on the first day itself and continues to attract bids as it enters its final day today, January 8.

by · India Today

In Short

  • Indobell Insulation IPO continues to see strong demand on final day
  • IPO was fully subscribed on Day 1
  • Retail investors need to apply for a minimum lot of 3,000 shares

The Indobell Insulation IPO, which opened for subscription on January 6, has garnered strong interest from investors.

The Rs 10.14 crore initial public offering was fully subscribed on the first day itself and continues to attract bids as it enters its final day today, January 8.

This fixed-price issue, priced at Rs 46 per share, comprises a fresh issuance of 22.05 lakh shares. Retail investors need to apply for a minimum lot of 3,000 shares, translating to an investment of Rs 1,38,000.

The IPO will close for subscription by the end of today, and allotment is scheduled for January 9. Shares are expected to list on the BSE SME platform on January 13.

LATEST SUBSCRIPTION STATUS

As of 10:23 am on the third day of bidding, the Indobell Insulation IPO was subscribed 6.18 times. The retail segment received overwhelming interest, with the portion subscribed 11.2 times, while the non-institutional investor (NII) segment saw a subscription of 1.15 times.

CHECK GREY MARKET PREMIUM (GMP)

Despite the robust subscription numbers, the grey market premium (GMP) for Indobell Insulation IPO stood at nil today. This indicates that the shares are trading at par with the issue price of ₹46 apiece in the unofficial market, suggesting that the stock is unlikely to list at a premium.

Indobell Insulation manufactures and supplies a range of insulation products, including nodulated wool, granulated wool, and prefabricated thermal insulation jackets. Its products cater to residential, commercial, and industrial applications.

In Fiscal 2024, the company’s revenue declined by 15% to Rs 17.98 crore from Rs 21.05 crore in Fiscal 2023. However, its profit after tax (PAT) increased by 14.72% to Rs 1.03 crore, reflecting improved profitability despite the revenue dip.

With no GMP premium, the IPO’s listing performance will be closely watched, particularly given its strong retail demand and niche market focus.