Indobell Insulation IPO sees over 10 times subscription ahead of closing date

Indobell Insulation's IPO has been subscribed over 10 times as of January 8, the final day for bidding. Retail investors submitted bids for 1.79 crore shares, while non-institutional investors applied for 43,000 shares. The company plans to raise Rs 10 crore by offering shares at Rs 46 each. The IPO consists of a fresh equity sale of 22.5 lakh shares and will close on January 9. Shares are set to list on the BSE SME platform on January 13. The proceeds will fund capital expenditures and working capital needs.