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Indobell Insulation IPO
Price Band
₹
Issue Size
₹10.14 Cr
Lot Size
3,000 shares
Min Investment
₹138,000
GMP
+₹39.0 (84.78%)
Issue Price
₹46.0
Subject to Sauda
₹88900
Paid only if allotted
Indobell Insulation IPO AI Summary
- Indobell Insulation IPO is listed on BSE SME in the Other Industrial Products sector.
- Subscription window: 06 Jan–08 Jan 2025, listing on 13 Jan 2025.
- Current GMP is +₹39.0 (84.78%) — unofficial and can change daily.
Indobell Insulation Limited is an established player in the insulation products sector, focusing on customized solutions. Despite recent declines in total income, the company has a solid management team and quality certifications. Investors should consider their risk appetite and market conditions when evaluating this IPO.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Indobell Insulation IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 08 Jan 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Indobell Insulation IPO Grey Market Premium (GMP) Today
GMP
+₹39.0
GMP %
+84.78%
Est. Listing
₹85.0
Updated: 25 Jul 2026 14:15
About the Company
Incorporated in May 1972, Indobell Insulation Limited manufactures and manufactures insulation products, including nodulated and granulated wool (mineral and ceramic fibre nodules) and prefabricated thermal insulation jackets. The company's products are used in residential, commercial, and industrial applications alongside various related insulation materials. The company's product range includes Nodulated/Granulated Wool which includes Ceramic Fibres Nodules Mineral Fibre Nodules Pre-fabricated Thermal Insulation Jackets The company provides customized insulation solutions tailored to each client's needs, including specific sizes, shapes, and densities for projects involving 3D and 2D designs, manufacturing drawings, and thermal analysis. The company's manufacturing units are situated in West Bengal and Maharastra. The company has received certifications for ISO 9001:2015 (Quality Management System), ISO 14001:2015 (Environmental Management System), and ISO 45001:2018 (Occupational Health & Safety Management System) for producing Nodulated Fibers and for thermal insulation materials. As of December 30, 2024, the company employs 31 people in various departments. Experienced Management Team Smooth flow of operations Well-defined organizational structure Well Established Manufacturing Facility Quality assurance and accreditations Diversified Product portfolio
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 13.20 | 15.29 | 12.32 | 14.89 |
| Total Income | 5.56 | 17.99 | 21.05 | 9.77 |
| Profit After Tax | 0.42 | 1.03 | 0.90 | 0.15 |
| NET Worth | 6.09 | 5.67 | 4.73 | 3.89 |
| Reserves and Surplus | 2.00 | 1.58 | 4.04 | 3.21 |
| Total Borrowing | 3.42 | 5.27 | 4.24 | 6.13 |
Key Ratios
EPS
₹2.52
NAV
₹13.85
ROE
18.21%
ROCE
28.15%
RoNW
18.21%
P/B Value
3.32
P/E Ratio
18.24
Market Cap
₹28.98 Cr
PAT Margin
5.74%
Debt/Equity
0.93
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Beardsell Ltd | 18.01 | 11.16% | 20.87 | 2.02 |
| Indobell Insulation Limited This IPO | 13.85 | 18.21% | 18.24 | 2.52 |
Promoters
Vijay Burman, Man Mohan Burman, Megha Burman and Raksha Burman
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding Capital Expenditure towards purchase of additional plant and machinery 0.41 2 To meet the working capital requirements 7.76 3 General Corporate Purposes 0.70 4 Issue expenses 1.28 Total 10.14
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹21.05 Cr in the year ending 31 Mar 2023, declining to ₹17.99 Cr by 31 Mar 2024, and further decreasing to ₹5.56 Cr as of 30 Sep 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹0.15 Cr in the year ending 31 Mar 2022, rising to ₹0.90 Cr by 31 Mar 2023, then increasing to ₹1.03 Cr in the year ending 31 Mar 2024, and finally reaching ₹0.42 Cr as of 30 Sep 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Indobell Insulation Limited's implied P/E at the issue price is 18.24, compared to peers trading at a P/E range of 20.87.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing gain of an IPO in the grey market, which is an unofficial market where shares are traded before they are listed on the stock exchange. A higher GMP suggests that investors anticipate a strong demand for the shares upon listing.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment strategy and risk tolerance. It is important to consider the company's financial health and market conditions.
Who May Want to Wait
Investors who prefer stable, established companies with consistent revenue growth may want to avoid this IPO, especially given the recent decline in total income.
IPO Timeline, Explained
The IPO opens for subscription on January 6, 2025, and closes on January 8, 2025. Allotment of shares will be done on January 9, 2025, with the listing expected on January 13, 2025.
Listing Gains — The Risk
Listing-day gains can be unpredictable and depend on various factors, including market sentiment and demand for the IPO. Investors should be aware that while some IPOs may see significant gains on the first day, others may not perform as expected.
This evaluation is generated from Indobell Insulation's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Indobell Insulation IPO GMP today?
Indobell Insulation IPO GMP today is +₹39.0 (84.78%). GMP is an unofficial grey-market indicator and can change daily.
When does Indobell Insulation IPO open and close?
Indobell Insulation IPO opens on 06 January 2025 and closes on 08 January 2025.
When does Indobell Insulation IPO list on the stock exchange?
Indobell Insulation IPO listed on 13 January 2025 at ₹85.0.
What is the lot size for Indobell Insulation IPO?
The lot size for Indobell Insulation IPO is 3000 shares, requiring a minimum investment of ₹138,000.
What is the lot size for this IPO?
The lot size for Indobell Insulation's IPO is 3000 shares.
What is the minimum investment required?
The minimum investment required is ₹138,000.
What is the issue price of the shares?
The issue price of the shares is ₹46.0.
When does the IPO open and close?
The IPO opens on January 6, 2025, and closes on January 8, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing gain of an IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
06 Jan 2025
Close
08 Jan 2025
Allotment
09 Jan 2025
Listing
13 Jan 2025
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