On the BSE SME, Indobell Insulation’s share price made a spectacular 90% premium on its first listing at ₹87.40, and it thereafter hit the 5% upper circuit.
Indobell Insulation Shares List with Stellar 90% Premium at ₹87.40 on BSE SME:
With a remarkable 90% premium at ₹87.40 on the BSE SME, Indobell Insulation’s share price had a successful first listing. The share price of Indobell Insulation then increased even further, reaching the 5% upper circuit. From its listing price of ₹87.40, the share price increased by 5% to ₹91.77, which was also the stock’s upper price band. The share price of Indobell Insulation was then stuck in the upper circuit.
The subscription status and the Grey Market Premium showed that market participants expected the Indobell Insulation share price to launch well.
By the closing day of the IPO bidding, January 8, 2025, the Indobell Insulation IPO had been subscribed 54.13 times. 52.37 subscriptions were made to the public issue in the retail category, while 51.31 subscriptions were made in the NII category.
Indobell Insulation’s Grey Market Premium, or GMP, was +39. This indicated that the shares of Indobell Insulation were trading at RS 39 over the issue price on the gray market. Additionally, it noted that investors were expecting Indobell Insulation shares to list for ₹85, which is 84.78% higher than the issue price of ₹46.
The Indobell Insulation IPO comprised a new offering of 22.05 lakh shares at a fixed price of ₹10.14 crores. The Indobell Insulation initial public offering (IPO) bidding period began on January 6, 2025, and finished on January 8, 2025. On Thursday, January 9, 2025, the Indobell Insulation IPO allocation was completed.
Founded in May 1972, Indobell Insulation Limited manufactures various insulation products, including granulated and nodulated wool (nodules composed of mineral and ceramic fibers) and prefabricated thermal insulation jackets. The company’s products and other related insulating materials are used in commercial, industrial, and residential contexts.
Nodulated/Granulated Wool comprises Mineral Fibre Nodules and Ceramic Fibre Nodules among the company’s products. Indobell Insulation expects to use the IPO proceeds to fund capital expenditures to acquire further equipment and plant. This is for general corporate purposes and to satisfy working capital requirements.
