The scrip was listed at Rs 87.40, at a premium of 90% compared with the initial public offer (IPO) price. The stock was currently frozen at an upper limit of 5% over its listing price.
The counter hit a high of Rs 91.77 and a low of Rs 83.03. About 15.54 shares of the company changed hands at the counter.
Indobell Insulations' IPO was subscribed 51.45 times. The issue opened for bidding on 6 January 2025 and it closed on 8 January 2025. The price of the IPO was set at Rs 46 per share.
The IPO comprised fresh issue of 22,05,000 equity shares. The promoter and promoter group shareholding diluted to 65% from 99.99% pre-issue.
The company intends to utilize the net proceeds to meet working capital requirements, funding capital expenditure towards purchase of additional plant & machinery and general corporate purposes.
Indobell Insulations is a company specializing in the manufacturing and installation of insulation products, primarily focusing on the power industry. They produce and install a wide range of insulation materials, including mineral and ceramic wool, prefabricated jackets, and other related materials. Their services extend beyond insulation, encompassing scaffolding, fire protection, lining services, and more, catering to various applications across residential, commercial, and industrial sectors. The company had total 31 employees including its directors.
The company recorded revenue from operations of Rs 5.54 crore and net profit of Rs 0.42 crore for the period as of 30 September 2024.