Indobell Insulation shares list with stellar 90% premium at ₹87.40 on BSE SME: Hit 5% upper circuit thereafter

Indobell Insulation share price saw a strong debut listing with stellar 90% premium at ₹87.40 on the BSE SME . The Indobell Insulation share price therafter gained further hitting the 5% upper circuit thereafter

Indobell Insulation share price that listed at ₹87.40 gained 5% more to ₹91.77, which also was the upper price band for the stock. The Indobell Insulation share price therafter was locked in the upper circuit.

The Indobell Insulation share price was being anticipated by the market participants to see a strong debut as was indicated by the subscription status and the Grey Market Premium.

Indobell Insulation IPO had been subscribed 54.13 times by January 8, 2025, the last day for bidding for the IPO. The public issue was subscribed 52.37 times in the retail category, and 51.31 times in the NII category

The Grey Market Premium or the GMP for Indobell Insulation stood at +39. This meant that the Indobell Insulation shares were trading in the grey market at RS 39 over the issue price. The same also meant that market participants were anticipating listing of Indobell Insulation shares at ₹85, a premium of 84.78% over the issue price of ₹46.

Indobell Insulation IPO was a fixed price issue of ₹10.14 crores which involved a fresh issue of 22.05 lakh shares. The bidding for the Indobell Insulation IPO started from January 6, 2025 and ended on January 8, 2025. The allotment for Indobell Insulation IPO was finalized on Thursday, January 9, 2025.

Indobell Insulation Limited was established in May 1972 and produces a range of insulation products, such as prefabricated thermal insulation jackets and nodulated and granulated wool (nodules made of mineral and ceramic fibers). Along with other related insulation materials, the company's products are utilized in commercial, industrial, and residential settings.

The company's product range includes Nodulated/Granulated Wool which includes Ceramic Fibres Nodules and Mineral Fibre Nodules

Indobell Insulation plans utilising the proceeds from the IPO for Funding Capital Expenditure towards the purchase of additional plant and machinery. To meet the Working Capital Requirements and for General Corporate Purposes

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