The Innomet Advanced Materials IPO is a fixed price issue of ₹34.24 crores, consisting entirely of a fresh issue of 34.24 lakh shares.
The IPO opens for subscription on September 11, 2024, and closes on September 13, 2024. The allotment is expected to be finalized on September 16, 2024, with a tentative listing date on the NSE SME scheduled for September 18, 2024.
Priced at ₹100 per share, the minimum application size is 1,200 shares, requiring a retail investment of ₹120,000. For HNIs, the minimum investment is 2 lots (2,400 shares), totaling ₹240,000.
Expert Global Consultants Private Limited is the book-running lead manager, Skyline Financial Services Private Ltd is the registrar, and Prabhat Financial Services serves as the market maker.
Below are the details of Innomet Advanced Materials Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Innomet Advanced Materials IPO Details
| IPO Date | September 11, 2024 to September 13, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹100 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 3,423,600 shares (aggregating up to ₹34.24 Cr) |
| Fresh Issue | 3,423,600 shares (aggregating up to ₹34.24 Cr) |
| 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 | 171,600 shares |
Innomet Advanced Materials IPO Timeline
| IPO Open Date | Wednesday, September 11, 2024 |
| IPO Close Date | Friday, September 13, 2024 |
| Basis of Allotment | Monday, September 16, 2024 |
| Initiation of Refunds | Tuesday, September 17, 2024 |
| Credit of Shares to Demat | Tuesday, September 17, 2024 |
| Listing Date | Wednesday, September 18, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 13, 2024 |
Innomet Advanced Materials IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹120,000 |
| Retail (Max) | 1 | 1200 | ₹120,000 |
| HNI (Min) | 2 | 2,400 | ₹240,000 |
Innomet Advanced Materials IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 1,71,600 (5.01%) |
| Other Shares Offered | 16,26,000 (47.49%) |
| Retail Shares Offered | 16,26,000 (47.49%) |
| Total Shares Offered | 34,23,600 (100%) |
Innomet Advanced Materials IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 3,416.76 | 1,213.68 | 974.01 | |||||||||||||||||||||||||||
| Revenue | 2,955.45 | 2,714.78 | 2,240.35 | |||||||||||||||||||||||||||
| Profit After Tax | 251.91 | 321.55 | 55.17 | |||||||||||||||||||||||||||
| Net Worth | 1,472 | 705.94 | 379.78 | |||||||||||||||||||||||||||
| Reserves and Surplus | 520.35 | 417.62 | 91.46 | |||||||||||||||||||||||||||
| Total Borrowing | 1,331.29 | 1,209.5 | 981.51 | |||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||
Innomet Advanced Materials IPO Review
Innomet Advanced Materials Ltd. (IAML) has evolved from manufacturing diamond tools to specializing in metal powders and tungsten heavy alloys, positioning itself in the growing field of powder metallurgy. The company collaborates with top scientists and research organizations for continuous product development, while also offering infrastructure to support R&D in related industries.
IAML is launching its maiden IPO to raise ₹34.24 crores at ₹100 per share, with proceeds allocated toward working capital, machinery, and debt repayment. Post-IPO, the company will have a market cap of ₹129.40 crores.
Financially, the company’s performance shows inconsistency, with notable fluctuations in profit margins and return on capital employed (RoCE). In FY24, it posted a net profit of ₹2.52 crores on revenues of ₹29.56 crores. The IPO is priced at a steep P/E of 51.28, making it appear expensive.
As a financial advisor, I would recommend investors approach this IPO with caution. While the company operates in a promising sector, the high valuation and inconsistent financials suggest that it may be a better fit for long-term, risk-tolerant investors rather than those seeking immediate returns.