Highlights:
- Indobell Insulations IPO to Raise Rs. 10.14 Crore: The IPO opens on January 6, 2025, offering 22,05,000 shares at Rs. 46 each.
- Indobell Insulations IPO Launch: The company targets Rs. 10.14 crore for growth in marine and industrial sectors.
Kolkata 06th January 2025: Indobell Insulations Limited, a leading manufacturer and contractor of insulation products, has announced its Initial Public Offering (IPO) to raise Rs. 10.14 crore. The IPO will open for subscription on January 6 and close on January 8.
The Kolkata-headquartered company will issue 22,05,000 equity shares at a fixed price of Rs. 46 per share to raise Rs. 10.14 crore. The company has reserved 10,47,000 shares for retail investors and as many shares for non-retail investors. It has reserved 1,11,000 shares for the market maker portion. Retail investors are required to apply for a minimum of 3,000 shares.
According to the IPO documents, proceeds from the issue will be utilised for funding capital expenditure for additional plant and machinery, meeting working capital requirements and general corporate purposes.
Promoted by Vijay Kumar Burman, Indobell Insulations is a manufacturer and contractor of insulation products like nodulated /granulated wool (mineral and ceramic fibre nodules) and prefabrication thermal insulation jackets which are used to insulate a variety of applications, including homes, commercial buildings, and industrial plants.
The company serves several sectors such as power, marine and industrial plants, offering comprehensive insulation solutions including consultancy, engineering, fabrication, material supply, installation and project management. Its manufacturing facilities are strategically located in West Bengal and Maharashtra.
The sale of mineral fibre nodules, ceramic fibre nodules and thermal insulation jackets accounted for over 51% of the company’s total revenue for the previous financial year. Exports accounted for 33.71% of the total revenue, demonstrating its strong presence in international markets.
Indobell Insulations recently secured a Rs. 22 crore tender on the Government e-Marketplace (GeM) portal for the marine ship sector. The company plans to target larger orders of Rs. 250-300 crore for ships and submarines over the next 2–3 years and is poised for significant growth.
Finshore Management Services Limited is the lead manager of the issue.
