The IPO market continues to buzz with activity, and yet another opportunity is arriving soon. B.R. Goyal Infrastructure Limited is launching its IPO. It will open from January 7, 2025, and will close on January 9, 2025. The shares come with a face value of ₹10, and the price band is set at ₹128 to ₹135 per share.
This IPO is entirely a fresh issue with no offer for sale involved. The company is offering 63,12,000 shares, through which it aims to raise approximately ₹85.21 crore. Retail investors can participate in this IPO with a lot size of 1,000 shares.
The issue is being conducted as a book-built process and will be listed on the BSE SME platform. Additionally, the Market Maker portion includes 3,16,000 shares.
Important Highlights of the Issue
| Category | Detail | Information |
|---|---|---|
| Key Dates | IPO Open Date | January 6, 2025 (Monday) |
| IPO Close Date | January 8, 2025 (Wednesday) | |
| Pricing Information | Face Value | ₹10 per share |
| Price | ₹46 per share | |
| Offer Structure | Total Issue Size | 22,05,000 shares (amounting up to ₹10.14 Cr) |
| Fresh Issue | 22,05,000 shares (amounting up to ₹10.14 Cr) | |
| Investor Details | Lot Size | 3,000 Shares |
| Listing Exchange | BSE SME | |
| IPO Type | Fixed Price Issue IPO | |
| Market Maker Portion | 1,11,000 shares |
Important Dates
6 January, 2025 (Monday)
8 January, 2025 (Wednesday)
9 January, 2025 (Thursday)
10 January, 2025 (Friday)
10 January, 2025 (Friday)
13 January, 2025 (Monday)
What is GMP of Indobell Insulation IPO Today?
As of January 10, 2025, the Grey Market Premium (GMP) for the Indobell Insulation Ltd offer is ₹15. This indicates that the shares are expected to list at approximately ₹61 per share.
Note: GMP is an unofficial indicator and is based on market speculation; it does not guarantee actual listing performance.
Company Financial Standing
| Particulars | 30 Sep 2024 (₹ Lakhs) | FY24 (₹ Lakhs) | FY23 (₹ Lakhs) | FY22 (₹ Lakhs) |
|---|---|---|---|---|
| Assets | 1,320.22 | 1,528.77 | 1,232.03 | 1,488.6 |
| Revenue | 556.3 | 1,798.57 | 2,105.22 | 977.31 |
| Total Expenses | 469.91 | 1,586.02 | 1,903.09 | 895.84 |
| Profit After Tax | 42.39 | 103.26 | 90.01 | 15.34 |
| Net Worth | 609.49 | 567.09 | 472.63 | 389.37 |
| Reserves and Surplus | 199.99 | 157.6 | 404.38 | 321.12 |
Let’s take a quick look at this company’s financials. The assets have grown from ₹1232.03 lakh in FY 2023 to ₹1528.77 lakh in FY 2024. That’s a nice increase.
Now, talking about revenue – it was ₹977.31 lakh in FY 2022, and by FY 2024, it went up to ₹1798.57 lakh. That’s solid growth, right?
On the flip side, the total expenses have almost doubled. In FY 2022, expenses were ₹895.84 lakh, but by FY 2024, they shot up to ₹1586.02 lakh. So, the costs have gone up too. But if these increment is to improve the operational efficiency, it may be said as a good decision which is evident in company’s profits.
But here’s the good news – the Profit After Tax (PAT) has grown a lot. It was just ₹15.34 lakh in FY 2022, and by FY 2024, it jumped to ₹103.26 lakh. That’s almost seven times more! Pretty impressive, isn’t it?
Overall, I think the company’s financials look quite strong.
Company's Key Performance Indicator
| Key Performance Indicator | Value |
|---|---|
| Return on Equity (ROE) | 18.21% |
| Return on Capital Employed (ROCE) | 28.15% |
| Debt/Equity | 0.93 |
| Return on Net Worth (RoNW) | 18.21% |
| PAT Margin | 5.74 |
| Price to Book Value | 3.32 |
| EBITDA Margin (%) | 7.57 |
| Net Asset Value (NAV) | ₹13.85 |
| Earnings Per Share (EPS) | ₹2.52 |
Net Cash Flow Generated
| Activity | 30 Sep 2024 (₹ Lakhs) | FY24 (₹ Lakhs) | FY23 (₹ Lakhs) | FY22 (₹ Lakhs) |
|---|---|---|---|---|
| Net Cash from Operating Activities | 211.73 | 30.00 | 312.51 | -281.72 |
| Net Cash from Investing Activities | -6.20 | -61.77 | -54.52 | -7.28 |
| Net Cash from Financing Activities | -203.58 | 43.09 | -250.06 | 326.74 |
| Net Increase/Decrease in Cash Equivalents | 1.96 | 11.31 | 7.93 | 37.74 |
Lot Size and Application Amount
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail Investor (Minimum) | 1 | 3,000 | ₹1,38,000 |
| Retail Investor (Maximum) | 1 | 3,000 | ₹1,38,000 |
| HNI Investor (Minimum) | 2 | 6,000 | ₹2,76,000 |
Investor Category-Wise Reservation
| Investor Category | Shares Reserved |
|---|---|
| Shares Reserved for Retail Investors | 50% of the Net Issue |
| Shares Reserved for Other Investors | 50% of the Net Issue |
Peer Comparison: EPS, PE Ratio, and Face Value
| Company Name | EPS Basic (₹) | P/E Ratio | Face Value (₹) |
|---|---|---|---|
| Beardsell Limited | 2.02 | 20.87 | 2.00 |
| Indobell Insulations Limited | 2.52 | 18.24 | 10.00 |
State Wise Revenue Breakdown
| State | Sep 30, 2024 (₹ Lakhs) | FY24 (₹ Lakhs) | FY23 (₹ Lakhs) | FY22 (₹ Lakhs) |
|---|---|---|---|---|
| Tamil Nadu | 225.61 | 391.56 | 316.52 | 230.61 |
| Uttarakhand | 85.62 | 317.25 | 177.70 | 101.32 |
| West Bengal | 15.87 | 93.50 | 36.36 | 10.86 |
| Haryana | 44.92 | 87.34 | 95.61 | 62.69 |
| Chhattisgarh | 30.45 | 81.89 | 38.32 | 76.55 |
| Telangana | 38.34 | 69.44 | 129.70 | 80.27 |
| Andhra Pradesh | - | 29.63 | - | 6.00 |
| Gujarat | 5.61 | 27.38 | 27.13 | 36.42 |
| Maharashtra | 22.93 | 26.38 | 11.60 | 46.35 |
| Himachal Pradesh | 13.13 | 21.45 | 5.81 | 2.35 |
| Uttar Pradesh | - | 14.45 | 9.05 | 29.35 |
| Bihar | 3.48 | 14.17 | 21.47 | 6.66 |
| Orissa | 10.85 | 10.85 | 8.90 | 3.00 |
| Jharkhand | 4.61 | - | 0.70 | 6.75 |
| Madhya Pradesh | 6.00 | - | 98.96 | 46.57 |
| Punjab | - | - | 41.30 | - |
| Rajasthan | - | - | 0.18 | 12.68 |
| Karnataka | 42.20 | - | - | - |
| Assam | 1.93 | - | - | - |
| Total | 551.54 | 1,185.31 | 1,019.31 | 758.44 |
Country wise Revenue Breakdown
| Country | Sep 30, 2024 (₹ Lakhs) | FY24 (₹ Lakhs) | FY23 (₹ Lakhs) | FY22 (₹ Lakhs) |
|---|---|---|---|---|
| Switzerland | - | 222.77 | 147.19 | 31.14 |
| United States of America | - | 177.19 | 131.89 | - |
| Taiwan | - | 126.82 | - | 58.32 |
| Germany | - | 68.22 | 706.94 | 113.10 |
| South Korea | 2.76 | 7.83 | 71.38 | - |
| Total | 2.76 | 602.85 | 1,057.39 | 202.56 |
Domestic Vs Exports Revenue
| Particulars | Sep 30, 2024 (₹ Lakhs) | FY24 (₹ Lakhs) | FY23 (₹ Lakhs) | FY22 (₹ Lakhs) |
|---|---|---|---|---|
| Domestic | 551.54 | 1,185.31 | 1,019.31 | 758.44 |
| Exports | 2.76 | 602.85 | 1,057.39 | 202.56 |
| Total | 554.30 | 1,788.15 | 2,076.70 | 961.00 |
Key Objectives of the Issue
The net proceeds from this public offer will be utilized for the following purposes.
- Working Capital Needs
- Procurement of additional machinery, equipment, and plant
- For General Corporate Activities
- Expenses Related to Public Issue
Final Words:
I think the company’s financial numbers look quite impressive. Over the last three years, their profits have shown solid growth, which is definitely a positive sign. But in my opinion, relying solely on financial data isn’t enough when it comes to investing in any IPO. You should also consider the company’s competitors, the current state of the industry it operates in, and how the industry is expected to grow in the future.
It’s also important to check if it has a significant presence in international markets as well. However, I would advise investors to consult their financial advisor before making any decisions.
Popular Questions
What are the opening and closing dates for the Indobell Insulations Limited public offering?
The issue opens on 6 January, 2025, and closes on 8 January, 2025.What is the issue price for the Indobell Insulations Limited public issue?
The issue price is ₹46 per equity share.What is the lot size for retail investors in this offer?
Retail investors can bid for a minimum of 3,000 shares.Who is the lead manager for this public offering?
The lead manager is Finshore Management Services Limited.Who is the registrar for the Indobell Insulations Limited public issue?
The registrar is Integrated Registry Management Services Private Limited.What are the main objectives of this offer?
The funds raised through this issue will be utilized for:- Working capital requirements.
- General corporate purposes.
- Meeting issue-related expenses.
On which stock exchange will the shares be listed?
The shares of Indobell Insulations Limited are proposed to be listed on BSE SME.What is the total issue size for the Indobell Insulations Limited public offering?
The total issue size is 22,05,000 equity shares.When will the allotment and refund process begin?
The allotment date is 9 January, 2025, and refunds will begin on 10 January, 2025.When will the shares be credited to the Demat account?
Shares will be credited to the Demat accounts on 10 January, 2025.What is the expected listing date for the offer?
The shares are expected to list on 13 January, 2025.
It is always beneficial to read Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP) carefully to better understand its financials and growth opportunities before making a decision.
Looking for more such reviews? Check out our IPO Dashboard for recent posts on other Main-board IPO & SME IPOs for the latest market updates.
Note: This article is based on the information received from the company’s official documents, including the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). For up-to-date information on the Grey Market Premium (GMP) for the Indobell Insulation Public Offer, you may please check our Current GMP, where we will post the latest figures as soon as they are available.
Disclaimer: This article is for educational purposes only. We do not offer any advice on buying or selling securities. Please consult your financial advisor before investing in an public offering or any other securities to make sure that it suits your financial plans and risk tolerance.
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