Innomet Advanced Materials IPO— Check Key Details Ahead Of Sept. 11 Launch

Innomet Advanced Materials aims to raise Rs 34.24 crore through its initial public offering, set to open on Sept. 11. The offering is a fixed price offer comprising an entirely fresh issue of 34.24 lakh shares. The company plans to use the money raised via the public offer for working capital requirements and capital expenditure.

Here's a look at the offer size, issue price, subscription dates and other key details.

The IPO will close for bidding on Sept. 13. Share allotment status is expected to be finalised on Sept. 16. The company will likely be listed on the NSE SME platform, Emerge, on Sept. 18.

Price for the offering has been fixed at Rs 100 per share. Retail investors can place bids for a minimum lot size of 1,200 shares, which aggregates to Rs 1,20,000. High-net-worth individuals can apply for a minimum application size of 2,400 shares, amounting to an investment of Rs 2,40,000.

The company has reserved 50% of the net issue for retail investors and 50% of the net issue has been reserved for other categories.

Innomet Advanced Materials IPO book running lead manager is Expert Global Consultants Pvt. and the registrar for the issue is Skyline Financial Services Pvt. The market maker of the issue is Prabhat Financial Services.

Innomet Advanced Materials Ltd. was incorporated in 1984. The company is a manufacturer of metal powders and tungsten heavy alloys. The company operates through two divisions— Innomet Powders and Innotung.  

Innomet Advanced Materials plans to use the money raised via the IPO for funding working capital requirements and for purchasing machinery and equipment. The IPO proceeds will also be used for repayment or prepayment of the company’s existing loans. A portion of the funds will be used for meeting general corporate purposes and issue expenses.

Innomet Advanced Materials' revenue increased over 8% to Rs 29.55 crore in fiscal 2024, compared to Rs 27.14 crore in the previous fiscal. The company’s profit-after-tax decreased over 21% to Rs 2.51 crore in fiscal 2024, against Rs 3.21 crore in fiscal 2023.

Its net worth increased more than 108% to Rs 14.72 crore in fiscal 2024, against Rs 7.05 crore in the previous year.