Indobell Insulation is a fixed-price IPO worth ₹10.14 crore. The issue, comprising a fresh allotment of 22.05 lakh shares, is open for subscription from January 6, 2025, and closes on January 8, 2025. The IPO price is set at ₹46 per share.
The minimum application size is 3,000 shares, requiring a retail investment of ₹1,38,000. High Net-Worth Individuals (HNIs) must apply for at least two lots (6,000 shares), amounting to ₹2,76,000.
The IPO is expected to finalise its allotments on January 9, 2025, with shares tentatively listing on the BSE SME platform on January 13, 2025.
Finshore Management Services Limited is the book-running lead manager, while Integrated Registry Management Services Private Limited serves as the registrar. Black Fox Financial Private Limited is the market maker for this issue. Indobell Insulation aims to enhance its market presence through this IPO.
Industry Outlook
- The India thermal insulation market is projected to grow at a CAGR of 7.4%, reaching ₹3,674.98 crore by 2028, driven by industrial expansion and technological advancements.
- Polyurethane (PU) foam insulation offers superior efficiency and cost savings, with increasing demand supported by government policies and heightened awareness of energy-efficient solutions.
Indobell Insulation IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding Capital Expenditure towards the purchase of additional plant and machinery
- To meet the Working Capital Requirements
- General Corporate Purposes
About Indobell Insulation Limited
Incorporated in May 1972, Indobell Insulation Limited specialises in manufacturing a wide range of insulation products, including nodulated and granulated wool (mineral and ceramic fibre nodules) and prefabricated thermal insulation jackets. These products cater to residential, commercial, and industrial applications, along with related insulation materials.
The company’s product portfolio includes ceramic fibre nodules, mineral fibre nodules, and pre-fabricated thermal insulation jackets. It offers customised insulation solutions tailored to clients' requirements, such as specific sizes, shapes, and densities for projects involving 3D and 2D designs, manufacturing drawings, and thermal analysis.
With manufacturing facilities located in West Bengal and Maharashtra, Indobell Insulation adheres to high-quality standards. The company holds certifications in ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), and ISO 45001:2018 (Occupational Health & Safety).
As of December 30, 2024, the company employs 31 staff across various departments, driving its commitment to excellence in insulation solutions.
How To Check the Allotment Status of the Indobell Insulation IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for Indobell Insulation IPO online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Indobell Insulation IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Indobell Insulation IPO
Registered office: 88C, Lake View Road, Kolkata - 700029, West Bengal, India
Phone: +91 99032 51056
E-mail: cs@indobell.com
Indobell Insulation IPO Reservation
|
Investor Category |
Shares Offered |
|
Retail Shares Offered |
50% of the Net Issue |
|
Other Shares Offered |
50% of the Net Issue |
Indobell Insulation IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
3,000 |
₹1,38,000 |
|
Retail (Max) |
1 |
3,000 |
₹1,38,000 |
|
HNI (Min) |
2 |
6,000 |
₹2,76,000 |
Indobell Insulation IPO Promoter Holding
The Promoters of the company are Mr. Vijay Burman, Mr. Man Mohan Burman, Ms. Megha Burman and Ms. Raksha Burman.
|
Share Holding Pre-Issue |
99.99% |
|
Share Holding Post Issue |
65.00% |
Key Performance Indicators for Indobell Insulation IPO
As of March 31, 2024, the market capitalisation of Indobell Insulation's IPO is ₹28.98 crore. Here are the KPIs of Indobell Insulation:
|
KPI |
Value |
|
ROE (%) |
18.21% |
|
ROCE (%) |
28.15% |
|
Debt to Equity Ratio (x) |
0.93 |
|
RoNW (%) |
18.21% |
|
PAT Margin (%) |
5.74% |
|
Price to Book Value (x) |
3.32 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
P/E (x) |
2.52 |
1.35 |
|
EPS (₹) |
18.24 |
34.18 |
Indobell Insulation IPO Prospectus
Indobell Insulation IPO Registrar and Lead Managers
Indobell Insulation IPO Lead Managers
- Finshore Management Services Limited
Registrar for Indobell Insulation IPO
Integrated Registry Management Services Private Limited
- Contact Number: 044 - 28140801 to 28140803
- Email Address: smeipo@integratedindia.in
Website: Indobell Insulation IPO Registrar
Financial Performance of Indobell Insulation Limited
| Particulars | For period ended Septmeber 30, 2024 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 554.30 | 1,788.15 | 2,076.70 |
| Profit After Tax (PAT) (in ₹ lakh) | 42.39 | 103.26 | 90.01 |
| Total Borrowings (in ₹ lakh) | 341.84 | 526.92 | 424.34 |
| Net Worth (in ₹ lakh) | 609.49 | 567.09 | 472.63 |
| Return on Capital Employed (%) | 11.11% | 28.15% | 30.62% |
| Return on Net Worth (%) | 6.95% | 18.21% | 19.04% |
| Debt to Equity Ratio (x) | 0.56 | 0.93 | 0.90 |
| Earning Per Share (EPS)-in absolute ₹ | 1.04 | 2.52 | 13.19 |
Know before investing
Strengths
10Experienced leadership ensures strategic growth and operational excellence.
Unexecuted order book valued at ₹1,780.50 lakhs ensures stability.
Two manufacturing units in West Bengal and Maharashtra operational.
ISO 9001, 14001, and 45001 certifications ensure product quality.
Established client relationships drive repeat business and retention.
Diversified product portfolio meets varied market demands effectively.
Strong supplier ties ensure timely, quality raw material procurement.
Focus on operational efficiency reduces costs, improves productivity.
In-house laboratory ensures product quality and innovation.
Recognised by Bengal Chamber for service excellence in 2013.
Risks
10Pending legal proceedings involve ₹1.39 lakhs, may impact operations.
Expansion plan delays may arise from unplaced ₹41.00 lakh orders.
Under-utilised 1,980 MT annual capacity may lower profitability.
Revenue depends 83.58% on top 10 customers, increasing risk.
Top 10 suppliers contribute 94.53% of purchases, dependency high.
Negative cash flow reported in certain fiscal years, affecting liquidity.
High ₹388.85 lakh inventory strains financial and operational resources.
Competition from substitutes may reduce demand for insulation products.
Delayed statutory filings may result in penalties and fines.
Outstanding secured loans of ₹268.12 lakhs increase financial risk.
Indobell Insulation Limited Peer Details Comparison
| Company Name | EPS (Basic) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|
| Indobell Insulation Limited | 2.52 | 18.24 | 18.21 | 3.54 |
| Beardsell Ltd | 2.02 | 20.87 | 11.16 | 1.94 |
