Four SME IPOs Live: Indobell Insulation, Fabtech Technologies, Parmeshwar Metal, and Davin Sons and Mainboard IPO: Standard Glass Lining

 IPO Day 1 Subscription Status

As of January 6, 2025, at 1:59:15 PM (Day 1), the Indobell Insulation IPO has been subscribed 1.58 times in total. The retail category saw a relatively strong subscription, with 2.97 times, offering 10,47,000 shares and receiving bids for 31,14,000 shares. The Non-Institutional Investor (NII) category had a modest subscription of 0.19 times, with 10,47,000 shares offered and bids for only 1,95,000 shares. The Qualified Institutional Buyer (QIB) category had no specific subscription data mentioned. In total, 20,94,001 shares were offered, and 33,09,000 shares were bid for across the retail and NII categories, with a total of 1,470 applications.

IPO Details

•         Indobell Insulation IPO is a fixed price issue worth ₹10.14 crores.
•         The IPO comprises a fresh issue of 22.05 lakh shares.
•         Bidding opened on January 6, 2025, and will close on January 8, 2025.
•         Allotment is expected to be finalized on Thursday, January 9, 2025.
•         The IPO will list on BSE SME with a tentative listing date of Monday, January 13, 2025.
•         The issue price is set at ₹46 per share.
•         The minimum application lot size is 3,000 shares.
•         Retail investors must invest a minimum of ₹1,38,000.
•         High Net Worth Investors (HNI) must invest in at least 2 lots (6,000 shares), requiring a minimum investment of ₹2,76,000.

Use of Proceeds

The primary objectives of the Indobell Insulation IPO include funding capital expenditure for acquiring additional plant and machinery, meeting the company’s working capital requirements, and addressing general corporate purposes to support its overall growth and operational efficiency.

Fabtech Technologies Cleanrooms Limited

Fabtech Technologies Cleanrooms Limited specializes in the design, manufacture, and installation of pre-engineered and pre-fabricated modular panels and doors for cleanrooms in the pharmaceutical, healthcare, and biotech sectors. As a comprehensive supplier of cleanroom solutions, the company provides a wide range of products including cleanroom panels, view panels, doors, ceiling panels, covings, HVAC systems, and electrification works. These products are customized to meet the specific needs and designs of each plant.

 IPO Day 2 Subscription Status

As of January 6, 2025, at 2:04:10 PM (Day 2), the Fabtech Technologies IPO has been subscribed 113.4 times in total. The retail category witnessed the highest demand, with a subscription of 177.27 times, offering 10,86,400 shares and receiving bids for 19,25,80,800 shares. The Non-Institutional Investor (NII) category followed closely, subscribing 110.19 times, with 4,65,600 shares offered and bids for 5,13,04,000 shares. The Qualified Institutional Buyer (QIB) category saw a subscription of 3.78 times, with 6,19,200 shares offered and bids for 23,37,600 shares. In total, 21,71,200 shares were offered, and 24,62,22,400 shares were bid for across all categories, with a total of 1,85,140 applications.

IPO Details

• Book-built issue worth ₹27.74 crores.
• Entirely a fresh issue of 32.64 lakh shares.
• Subscription period: January 3, 2025, to January 7, 2025.
• Allotment finalization: Wednesday, January 8, 2025.
• Listing on BSE SME: Tentative date set for Friday, January 10, 2025.
• Price band: ₹80 to ₹85 per share.
• Minimum lot size: 1,600 shares.
• Minimum investment for retail investors: ₹1,36,000.
• Minimum investment for High Net Worth Investors (HNI): 2 lots (3,200 shares), amounting to ₹2,72,000.

 Use of Proceeds

The Company plans to utilize the gross proceeds raised from the Issue for several key purposes. These include meeting long-term working capital requirements, funding the proposed acquisition of equity shares in Kelvin Air Conditioning and Ventilation Systems Private Limited, and supporting general corporate activities.

Parmeshwar Metal Limited

Parmeshwar Metal Limited specializes in producing copper wires and rods by recycling copper scrap. The company's manufacturing facility is located in Dehgam, Gujarat. Parmeshwar Metal Limited is an ISO 9001:2015 certified company that offers a range of copper wire rods in sizes 1.6 mm, 8 mm, and 12.5 mm, customized to meet specific customer requirements. The company's products cater to various industries, including power cables, building wires, transformers, the automotive sector, household cables, and both bare and enamelled wires. 

IPO Day 3 Subscription Status

As of January 6, 2025, at 1:59:09 PM (Day 3), the Parmeshwar Metal IPO has been subscribed 317.63 times in total. The retail category saw an overwhelming response, with a subscription of 375.8 times. The Non-Institutional Investor (NII) category was subscribed 506.33 times, The Qualified Institutional Buyer (QIB) category received significant interest, with a subscription of 74.15 times.

IPO Details

•         Issue Type: Book built issue of ₹24.74 crores.
•         Shares Offered: Entirely a fresh issue of 40.56 lakh shares.
•         Bidding Period: From January 2, 2025, to January 6, 2025.
•         Allotment Date: Expected to be finalized on Tuesday, January 7, 2025.
•         Listing Date: Tentative listing on BSE SME on Thursday, January 9, 2025.
•         Price Band: ₹57 to ₹61 per share.
•         Minimum Lot Size (Retail Investors): 2000 shares (₹1,22,000).
•         Minimum Lot Size (HNI): 2 lots (4,000 shares) amounting to ₹2,44,000.

Use of Proceeds

The proceeds from the fresh issue will be utilized for several purposes, including setting up a new manufacturing facility at Dehgam, Gujarat, for the production of bunched copper wire and 1.6 MM copper wire rod, renovating furnaces for copper melting, meeting working capital requirements, and addressing general corporate purposes.

Davin Sons Retail Limited

Davin Sons Retail Limited specializes in the design and manufacture of a wide range of high-quality readymade garments, including jeans, denim jackets, and shirts for various brands. The company operates through two main business verticals: the manufacturing of readymade garments on a job work basis and the distribution of FMCG products. 

IPO Day 3 Subscription Status

As of January 6, 2025, at 2:09:09 PM (Day 3), the Davin Sons IPO has been subscribed 81.38 times in total. The retail category has seen the highest subscription at 120.17 times, with 7,58,000 shares offered and bids for 9,10,90,000 shares. The Non-Institutional Investor (NII) category follows with a subscription of 37.1 times, offering 7,58,000 shares and receiving bids for 2,81,20,000 shares. The total number of shares offered was 15,16,001, with 12,33,72,000 shares bid for across all categories, resulting in 65,999 applications.

IPO Details

•         Issue Type: Fixed price issue of ₹8.78 crores.
•         Shares Offered: Entirely a fresh issue of 15.96 lakh shares.
•         Bidding Period: From January 2, 2025, to January 6, 2025.
•         Allotment Date: Expected to be finalized on Tuesday, January 7, 2025.
•         Listing Date: Tentative listing on BSE SME on Thursday, January 9, 2025.
•         Price: ₹55 per share.
•         Minimum Lot Size (Retail Investors): 2000 shares (₹1,10,000).
•         Minimum Lot Size (HNI): 2 lots (4,000 shares) amounting to ₹2,20,000.

 Use of Proceeds

The company intends to utilize the net proceeds from the Issue to fund several key objectives. These include financing capital expenditures for the purchase of a warehouse, partially funding the working capital requirements, and covering general corporate purposes.

Mainboard IPO

Standard Glass Lining

Founded in September 2012, Standard Glass Lining Technology Limited is a leading manufacturer of engineering equipment tailored for the pharmaceutical and chemical industries in India. The company is equipped to handle the entire production process in-house, offering comprehensive turnkey solutions. These solutions encompass design, engineering, manufacturing, assembly, installation, and the development of standard operating procedures for pharmaceutical and chemical manufacturers. The company’s product portfolio includes reaction systems as well as storage, separation, and drying systems.

IPO Day 1 Subscription Status

As of January 6, 2025 1:09:12 PM, (Day 1), the Standard Glass Lining IPO has been subscribed 7.13 times in total. The retail category saw strong demand, with a subscription of 9.25 times. The Non-Institutional Investor (NII) category was subscribed 11.68 times.This category included 9.65 times subscription in the bNII segment (bids above ₹10 lakh) and 15.73 times in the sNII segment (bids below ₹10 lakh). The Qualified Institutional Buyer (QIB) category saw minimal demand, with only a 0.01 times subscription. 

IPO Details

• Issue Type: Book built issue of ₹410.05 crores.
• Shares Offered:

• Fresh issue of 1.50 crore shares aggregating to ₹210.00 crores.
• Offer for sale of 1.43 crore shares aggregating to ₹200.05 crores.

• Bidding Period: From January 6, 2025, to January 8, 2025.
• Allotment Date: Expected to be finalized on Thursday, January 9, 2025.
• Listing Date: Tentative listing on NSE, BSE on Monday, January 13, 2025.
• Price Band: ₹133 to ₹140 per share.
• Minimum Lot Size (Retail Investors): 107 shares (₹14,980).
• Minimum Lot Size (sNII): 14 lots (1,498 shares), amounting to ₹2,09,720.
• Minimum Lot Size (bNII): 67 lots (7,169 shares), amounting to ₹10,03,660. 

Use of Proceeds

The Company intends to utilize the net proceeds from the issue to fulfill several key objectives of funding capital expenditure for the purchase of machinery and equipment, repaying or prepaying, in full or in part, certain outstanding borrowings of the Company. Additionally, a portion of the proceeds will be invested in its wholly owned subsidiary, S2 Engineering Industry Private Limited, to assist in repaying or prepaying its borrowings from banks and financial institutions, as well as funding its capital expenditure for machinery and equipment. The proceeds will also be allocated to support inorganic growth through strategic investments or acquisitions, and for general corporate purposes.

Disclaimer: Investing in SME IPOs involves a high degree of risk. Such investments may be suitable only for investors with a high-risk tolerance and the ability to bear potential losses. Perform thorough due diligence and consult a financial advisor before investing. Invest wisely and at your own discretion.