The issue of Innomet Advanced Materials IPO, amounting to Rs 34.24 crores, is entirely a fresh issue of 34.24 lakh shares.
The subscription for the Innomet Advanced Materials IPO is opened on September 11, 2024, and closed on September 13, 2024. The allotment for the IPO is expected to be finalized on Monday, September 16, 2024. The listing of the IPO on NSE SME is scheduled for Wednesday, September 18, 2024.
The price of the Innomet Advanced Materials IPO is set at ₹100 per share. A minimum of 1200 shares is required for an application. The minimum investment amount required by retail investors is ₹120,000. The investment amount for HNI, requiring 2 lots (2,400 shares), is ₹240,000.
Refer to Innomet Advanced Materials IPO RHP for brief information.
| IPO Date | September 11, 2024 to September 13, 2024 |
| Listing Date | September 18, 2024 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 100 to ₹ 100 / Share |
| Lot Size | 1200 Shares |
| Total Issue Size | 3,423,600 share (Aggregating up to ₹34.24 Cr) |
| Fresh Issue | 3,423,600 (Aggregating up to ₹34.24 Cr) |
| Offer for Sale | |
| Employee Discount | |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,516,538 |
| Share holding post issue | 12,940,138 |
| Market Maker portion |
Innomet Advanced Materials Limited IPO opens on September 11, 2024, and closes on September 13, 2024.
| IPO Open Date | September 11, 2024 |
| IPO Close Date | September 13, 2024 |
| Basis of Allotment | September 16, 2024 |
| Initiation of Refunds | September 17, 2024 |
| Credit of Shares to Demat | September 17, 2024 |
| Listing Date | September 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM, September 13, 2024 |
A minimum of 1200 shares can be bid for by investors, with multiples thereof. The table below depicts the minimum and maximum investments in terms of shares and amount for retail investors and HNI.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | Rs.120,000 |
| Retail (Max) | 1 | 1,200 | Rs.120,000 |
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) | 2 | 2,400 | Rs.240,000 |
| HNI (Min) |
| Share Holding Pre Issue | 74.52% |
| Share Holding Post Issue | 54.80% |
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | |
|
| NII (HNI) Shares Offered | |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | 50% of the Net Issue |
|
| Employee Shares Offered | |
|
| Total Shares Offered | |
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
After beginning as a producer of diamond tools, Innomet Advanced Materials subsequently began producing ferrous and non-ferrous metal powders as well as alloys through backward integration. Innomet Powders and Innotung are the two segments that the company runs. Twenty items are available from Innomet Powders, including powders for copper, bronze, brass, nickel, tin, and stainless steel. Additionally, the company manufactures customized grades of metal and alloy powders that include cobalt, zinc, tin, copper, nickel, and iron. The brand name of the company's line of tungsten-heavy alloys is Innotung. These materials are offered by Innomet in a variety of shapes, sizes, and forms, including bars, plates, cubes, and spheres.
Innomet Advanced Materials possesses ISO 9001:2015 certification for quality management systems. With clients in the US, UK, Germany, Netherlands, Japan, Italy, New Zealand, Lebanon, and Brunei, among other countries, the business caters to both local and foreign markets.
Among its clientele are well-known companies like Tata Steel, BPCL, Kirloskar Brothers, HAL, and Bharat Forge. The company has witnessed a steady rise in revenue from operations over the years. Its revenue increased from Rs 22.38 crore in FY22 to Rs 27.13 crore in FY23 to Rs 28.99 crore in FY24.
The market capitalization of Innomet Advanced Materials IPO is Rs 129.4 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 21.37% |
| ROCE | 16.27% |
| Debt/Equity | 1.27 |
| RoNW | 17.11% |
| P/BV | |
| PAT Margin (%) |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.65 | 1.95 |
| P/E (x) | 37.78 | 51.37 |
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
The funds being raised through this Issue (“Net Proceeds”) are proposed to be utilized by the Company for the following object:
- The Net Proceeds from the Issue are proposed to be utilized for funding the working capital requirements of the Company.
- The Net Proceeds from the Issue will also be used to fund the capital expenditure requirements of the company, specifically for the purchase of machinery and equipment.
- The funds raised through the Innomet Advanced Materials IPO will be used for the repayment or prepayment, in whole or in part, of certain outstanding borrowings availed by the company from banks and financial institutions.
- General corporate purposes
- Issue Expenses
Innomet Advanced Materials Limited B-31, BHEL Ancillary Industrial Estate, |
Skyline Financial Services Private Ltd Phone: 02228511022 |
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