The initial public offering of Indobell Insulations Ltd. that went live on Jan. 6., will close for subscription on Wednesday, Jan. 8. The SME issue was booked 5.27 times on Tuesday and 2.33 times on Monday

The IPO is an entirely fresh issuance of 22.05 lakh shares, with no offer-for-sale component. The Indobell Insulations IPO, valued at Rs 10.14 crore, will be open for subscription till Jan. 8.

Here’s all you need to know about Indobell Insulations IPO as bidding on Day 3 commences.

Indobell Insulations IPO: All You Need To Know

Indobell Insulations IPO price band has been set at Rs 46 per share, making it a fixed-price issue. Retail investors have to apply for at least 3,000 shares in one lot, bringing the minimum investment amount to Rs 1,38,000 for a single-lot application.

Of the 22,05,001 shares offered — 10,47,000 (47.48%) is reserved for Non-Institutional Buyers and 10,47,000 (47.48%) for Retail Investors.

Share allotment for the IPO is likely to be done on Thursday, Jan. 9, with successful bidders getting their shares credited to Demat accounts on Jan. 10. Refunds will be initiated to non-allottees on the same day.

Shares of Indobell Insulations are likely to be listed on BSE SME on Monday, Jan. 13.

Indobell Insulations Ltd. has appointed Integrated Registry Management Services Pvt. as the registrar for the issue, while Finshore Management Services Ltd. will act as the book-running lead manager. Black Fox Financial Private Ltd. is the designated market maker for the issue.

Indobell Insulations IPO Day 3 Subscription Status

The IPO has been subscribed 6.11 times as of 10:14 a.m. on Wednesday

  • Non-Institutional Buyers: 1.13 times

  • Retail Investors: 11.09 times

The subscription status will be updated at regular intervals.

Indobell Insulations IPO GMP Today

Indobell Insulations IPO GMP (grey market premium) was NIL as of 7:54 a.m. on Jan. 8, as per InvestorGain. This points to a possible flat listing for Indobell Insulations IPO.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

About Indobell Insulations

Indobell Insulations Ltd. makes insulation products like nodulated and granulated wool (mineral and ceramic fibre nodules) and prefabricated thermal insulation jackets. Their products find application in residential, commercial, and industrial segments.

The company has manufacturing facilities in West Bengal and Maharastra and provides tailored insulation solutions adhering to the requirements of its clients.

Use Of Proceeds

Indobell Insulations will use the funds from its IPO to meet capex for buying an additional plant as well as machinery. Part of the proceeds will be used for meeting working capital needs and general corporate purposes.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.Indobell Insulations IPO GMP (grey market premium) was NIL as of 7:54 a.m. on Jan. 8 pointing to a possible flat listing for the SME issue.  Read MoreIPOs, Markets 

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