Innomet Advanced Materials Limited IPO

Innomet Advanced Materials Limited IPO opens on September 11, 2024, and closes on September 13, 2024. The allotment for the Innomet Advanced Materials Limited IPO is anticipated to be completed on Monday, September 16, 2024. The IPO will be tentatively listed on the NSE and SME on Wednesday, September 18, 2024.

Innomet Advanced Materials Limited IPO’s price band is Rs 100 per share. The IPO is a book-built issue of Rs Rs 34.24 crores. The issue is entirely a fresh issue of 34.24 lakh shares.

Innomet Advanced Materials IPO Details

Innomet Advanced Materials IPO Lot Size

Investors can bid for a minimum of 1200 shares and in multiples thereof. The table below depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amounts.

Innomet Advanced Materials IPO Objectives

The Company proposes to utilize the funds which are being raised through this Issue (“Net Proceeds”) towards the following object:

1. Funding working capital requirements of the Company;
2. Funding of capital expenditure requirements of the company towards the purchase of machinery and equipment;
3. Repayment or prepayment, in whole or in part, of all or a portion of certain outstanding borrowings availed by the company, from banks and financial institutions;
4. General corporate purposes; and
5. Issue Expenses

About Innomet Advanced Materials Limited

Incorporated in 1984, Innomet Advanced Materials Limited, with its divisions Innomet Powders and Innotung, specializes in manufacturing various metal powders and tungsten heavy alloys. Complying with ISO 9001:2015 standards, the company offers over 20 products, including custom grades of ferrous and non-ferrous powders such as copper, bronze, brass, nickel, tin, and stainless steel. Serving clients globally—including in the US, UK, Germany, Japan, and more—Innomet caters to diverse industries with its advanced materials. As of March 31, 2024, the company employs 56 professionals across various departments.

Innomet Advanced Materials Limited Financial Information 

Innomet Advanced Materials Limited’s revenue increased by 9% and profit after tax (PAT) dropped by -22% between the financial year ending with March 31, 2024 and March 31, 2023.

Innomet Advanced Materials IPO Reservation

Innomet Advanced Materials IPO Timeline

Innomet Advanced Materials IPO opens on September 11, 2024, and closes on September 13, 2024.