Innomet Advanced Materials IPO Allotment Finalised; Check Latest GMP Now
Investors can check the allotment status of the Innomet Advanced Materials IPO via Skyline Financial Services Private Ltd. Here's all you need to know.
Innomet Advanced Materials' IPO share allotment status was finalised on Monday.
The initial public offering of Innomet Advanced Materials Ltd. witnessed a remarkable demand from investors as the SME IPO was subscribed over 300 times on the final day of bidding on Friday.
The Rs 34.24 crore issue received bids for 1,05,34,03,200 shares against 3,252,000 shares for offer, as per the market tracking site Chittorgarh.
Innomet Advanced Materials IPO was subscribed 7.77 times on day two of the subscription on Thursday. It was subscribed 0.53 times on September 11, the first day of subscription.
The SME IPO was 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.
The price for the offering was fixed at Rs 100 per share. Retail investors could place bids for a minimum lot size of 1,200 shares, aggregating to Rs 1,20,000. High-net-worth individuals could apply for a minimum application size of 2,400 shares, amounting to an investment of Rs 2,40,000.
The company will list on the NSE SME platform Emerge, on September 18. Investors can check the allotment status of the IPO via Skyline Financial Services Private Ltd.
How To Check Innomet Advanced Materials IPO Allotment Atatus On Skyline Financial Services
Visit the official website of Skyline Financial Services here:
Select 'Innomet Advanced Materials Limited' from the list of companies on the 'Check Application Status' page.
Enter the required information, which could be either the Application number, DPID/Client ID or PAN.
Click on the 'Search' button.
The allotment status will be displayed on the screen.
Innomet Advanced Materials IPO GMP Today
The grey market premium of Innonmet Advanced Materials is Rs 110 as of 08:31 p.m. on Monday, implying a 110% gain over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 210 per share.
GMP is not an official price quote for the stock and is based on speculation.
Innomet Advanced Materials IPO Timeline
IPO Open Date: Wednesday, September 11
IPO Close Date: Friday, September 13
Basis of Allotment: Monday, September 16
Initiation of Refunds: Tuesday, September 17
Credit of Shares to Demat: Tuesday, September 17
Listing Date: Wednesday, September 18
About Innomet Advanced Materials Limited
Innomet Advanced Materials Limited, founded in 1984, produces metal powders and tungsten heavy alloys. The company operates two divisions: Innomet Powders and Innotung. It follows the ISO 9001:2015 quality standard for manufacturing and supplying ferrous and non-ferrous metal powders and tungsten alloy components.
With over 20 products, including copper, nickel, and stainless-steel powders, Innomet serves industries worldwide. Their custom metal powders have been supplied to countries like the US, UK, Germany, Japan, and more. As of March 2024, the company employs 56 people.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
