Innomet Advanced Materials is scheduled to hit the market on September 11, 2024 and close on September 13, 2024. Innomet Advanced Materials plans to raise around ₹34.24 Cr through an IPO with a sale of up to 3,423,600 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.
Innomet Advanced Materials Limited was started in 1984 and makes metal powders and tungsten heavy alloys. The company has two main divisions: Innomet Powders and Innotung. It follows the ISO 9001:2015 quality management standard for manufacturing and supplying ferrous and non-ferrous metal/alloy powders as well as tungsten heavy alloy components.
Innomet offers more than 20 different products, including powders made from copper, bronze, brass, nickel, tin, and stainless steel, catering to various industries. They also create custom grades of metal and alloy powders using materials like iron, copper, nickel, tin, zinc, and cobalt. The company supplies its products not only in India but also to countries like the US, UK, Germany, Netherlands, Japan, Italy, New Zealand, Lebanon, and Brunei. As of March 31, 2024, there are 56 employees working in different departments of the company.The company is launching its first IPO, offering 3,423,600 equity shares at a price of Rs. 100 each. This will help raise Rs. 34.24 crore.
Innomet Advanced Materials IPO Details
Innomet Advanced Materials IPO opens on September 11, 2024, and closes on September 13, 2024. The Listing date for Innomet Advanced Materials IPO is on September 19, 2024. The price band for IPO is ₹100 per share and lot size of 1200 Shares.
| IPO Date | September 11, 2024 to September 13, 2024 |
| Listing Date | September 19, 2024 |
| Price | ₹100 per share |
| Lot Size | 1200 Shares |
| Issue Size | ₹34.24 Cr |
| Face Value | ₹10 per share |
Innomet Advanced Materials IPO Tentative Timetable
Innomet Advanced Materials opening date is September 11, 2024 and close date is September 13, 2024. The IPO allotment date is September 16, 2024. Therefund initiation of IPO is on September 17, 2024. The credit of shares in demat account is on September 17, 2024. The listing date is on September 19, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 11, 2024 |
| IPO Closing | September 13, 2024 |
| IPO Allotment Date | September 16, 2024 |
| Refund Initiation | September 17, 2024 |
| Shares Credit to Demat | September 17, 2024 |
| Lisiting Date | September 19, 2024 |
Innomet Advanced Materials IPO Lot Size
Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹120,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1200 | ₹120,000 |
| Retail(Maximum) | 1 | 1200 | ₹120,000 |
| HNI (Minimum) | 2 | 2400 | ₹240,000 |
Innomet Advanced Materials IPO Promoter Holding
| Pre Issue Share Holding | 74.52% |
| Post Issue Share Holding | 54.80% |
Innomet Advanced Materials IPO Review
The company is launching its first IPO, offering 3,423,600 equity shares at a price of Rs. 100 each. This will help raise Rs. 34.24 crore.
On the financial performance front, for the last three fiscals, the company has posted a total income/net profit of Rs. 22.40 cr. / Rs. 0.55 cr. (FY22), Rs. 27.15 cr. / Rs. 3.22 cr. (FY23), Rs. 29.56 cr. / Rs. 2.52 cr. (FY24). It posted inconsistency in its bottom lines for the reported periods.
For the last three fiscals, it has reported an average EPS of Rs. 5.36, and an average RoNW of 26.16%. The issue is priced at a P/BV of 6.36 based on its NAV of Rs. 15.73 as of March 31, 2024, and at a P/BV of 2.64 based on its post-IPO NAV of Rs. 37.83 per share.
If we attribute FY24 earnings to its post-IPO fully diluted paid-up capital, then the asking price is at a P/E of 51.28. The issue relatively appears exorbitantly priced.
For the reported periods, the company has posted PAT margins of 2.46% (FY22), 11.85% (FY23), 13.28% (FY24), and RoCE margins of 10.23%, 27.70%, 16.27% respectively for the referred periods. There appears to be some mismatch in PAT margins for FY23 and FY24.
This is the 11th order from Expert Global in the last four financial years, including the current one. Out of the last 10 listings, 1 started at a discount, 1 was at the same price as the issue price, and the rest listed with premiums between 10.47% and 90% on the listing day.
The company that used to focus on diamond tools has now expanded into metal powder and THA products. It has shown inconsistent profits in the recent periods. Based on the earnings from FY24, the company's stock seems quite expensive with a P/E ratio over 51. Savvy investors might consider investing a moderate amount for the long term.
Innomet Advanced Materials IPO Subscription Status (Bidding Details)
Table not foundInnomet Advanced Materials IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Innomet Advanced Materials IPO FAQs
What is Innomet Advanced Materials IPO?
Innomet Advanced Materials is issuing 3,423,600 equity shares with a face value of ₹10 each, totaling up to ₹34.24 Cr. The shares are being offered at a price of ₹100 each, with a minimum order quantity of 1200 shares.
Skyline Financial Services Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Innomet Advanced Materials IPO will open?
Innomet Advanced Materials will open on September 11, 2024 for QIB, NII, and Retail Investors.
When Innomet Advanced Materials IPO will end?
Innomet Advanced Materials will end on September 13, 2024.
What is Innomet Advanced Materials IPO Size?
Innomet Advanced Materials IPO size is ₹34.24 Cr.
What is Innomet Advanced Materials IPO Price Band?
Innomet Advanced Materials price band is ₹100 per share.
What is the Innomet Advanced Materials IPO Allotment Date?
Innomet Advanced Materials allotment date is September 16, 2024.
What is the Innomet Advanced Materials IPO Listing Date?
Innomet Advanced Materials listing date is September 19, 2024. The IPO is to be listed on BSE and NSE.
How to Innomet Advanced Materials IPO through Zerodha?
To apply for the IPO “Innomet Advanced Materials” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Innomet Advanced Materials IPO through Upstox?
To apply for the IPO “Innomet Advanced Materials” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Innomet Advanced Materials IPO Allotment Status?
For Innomet Advanced Materials IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Innomet Advanced Materials IPO GMP?
You can check out here: Innomet Advanced Materials IPO GMP. Check all IPO GMP here