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20 Nov 2024
Innomet Advanced Materials Limited IPO And Its GMP
M/s Padmasree Enterprises was incorporated as a partnership firm in the year 1984, which was a family concern started as a General Engineering and later on, converted into a Private Limited Company in the name of M/s Innomet Advanced Materials Private Limited (Innomet) in 2019.
The next generation took over and diversified into other businesses like the manufacture of Diamond Tools and later on through backward integration, started the manufacture of Metal Powders (Ferrous, Non-Ferrous and their Alloys). Further R&D got into the manufacture of Tungsten Heavy Alloys (THA). The Promoters have vast experience in General Engineering, Diamond Tools, Metal/Alloy Powders and Tungsten Heavy Alloys.
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IPO Details:
- IPO Opening Date: September 11, 2024
- IPO Closing Date: September 13, 2024
- Issue Size: ₹34.24 crores
- Price per Share: ₹100
- Minimum Lot Size: 1,200 shares
- Book Running Lead Manager: Expert Global Consultants Private Limited
- Registrar: Skyline Financial Services Private Ltd
- Market Maker Prabhat Financial Services
WHAT IS GMP?
GMP stands for Grey Market Premium, and if you are planning your IPO then GMP plays an important role. A grey market is a place where stocks/shares get traded before getting officially listed on any stock exchange. The difference between the IPO price and the grey market price is known as GMP (grey market premium). GMP is a premium amount paid at which initial public offering (IPO) shares are traded before it is listed on the stock exchanges.
Innomet Advanced Materials Limited IPO GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 18-09-2024 | 100 | 95 (95.00%) | 18-Sep-2024 12:07 |
| 17-09-2024 | 100 | 110 (110.00%) | 17-Sep-2024 12:55 |
| 16-09-2024 | 100 | 95.0 (95%) | 16-Sep-2024 13:45 |
| 13-09-2024 | 100 | 95.0 (95%) | 13-Sep-2024 12:35 |
| 12-09-2024 | 100 | 70.0 (70%) | 12-Sep-2024 12:40 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Innomet Advanced Materials Limited IPO Overview
| Detail | Description |
|---|---|
| IPO Date | September 11, 2024 to September 13, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹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 |
| Shareholding pre issue | 9,516,538 |
| Share holding post issue | 12,940,138 |
| Market Maker portion | 171,600 shares Prabhat Financial Services |
Innomet Advanced Materials IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| 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 Limited 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 Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net Issue |
| Other Shares Offered | 50% of the Net Issue |
Innomet Advanced Materials IPO Promoter Holding
| Share Holding Pre Issue | 74.52% |
| Share Holding Post Issue | 54.80% |
Company & Financials
Incorporated in 1984, Innomet Advanced Materials Limited manufactures Metal Powders and Tungsten Heavy Alloys.
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The company has two divisions:
- 1. Innomet Powders.
- 2. Innotung.
Innomet complies with the Quality Management System Standard: ISO 9001:2015 for the manufacturing and supply of Ferrous & Non-Ferrous Metal/Alloy Powders and Tungsten Heavy Alloy components. The company offers a diverse range of over 20 products, including copper, bronze, brass, nickel, tin and stainless-steel powders for various industries. They specialize in producing custom grades of metal and alloy powders containing iron, copper, nickel, tin, zinc and cobalt. The company has supplied its products in India as well as in the US, UK, Germany, Netherlands, Japan, Italy, New Zealand, Lebanon and Brunei.
Innomet Advanced Materials Limited 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 | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 21.37% |
| ROCE | 16.27% |
| Debt/Equity | 1.27 |
| RoNW | 17.11% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.65 | 1.95 |
| P/E (x) | 37.78 | 51.37 |
Objectives of Innomet Advanced Materials IPO
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The Company proposes to utilize the funds which are being raised through this Issue (“Net Proceeds”) towards the following objectives:
- 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.
- 5. Issue Expenses.
Innomet Advanced Materials IPO Review
The company that was in the diamond tools business has diversified into Metal Powder and THA products. It posted inconsistency in the bottom lines for the reported periods. Based on FY24 earnings, the issue relatively appears exorbitantly priced above 51 P/E. Well-informed investors may park moderate funds for the long term.
FAQs for Innomet Advanced Materials IPO
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What is the Innomet Advanced Materials IPO?
Innomet Advanced Materials IPO is an SME IPO. The company is going to raise ₹34.24 Crores via IPO. The issue is priced at ₹100 per equity share. The IPO is to be listed on NSE.
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When will Innomet Advanced Materials IPO open for subscription?
The IPO is to open on September 11, 2024, for QIB, NII, and Retail Investors. The IPO will close on September 13, 2024.
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What is Innomet Advanced Materials IPO Investors Portion?
The investors’ portion for QIB is 00%, NII is 50%, and Retail is 50%.
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What is Innomet Advanced Materials IPO Issue Size?
Innomet Advanced Materials IPO issue size is ₹34.24 crores.
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What is the Innomet Advanced Materials IPO Price Band?
Innomet Advanced Materials IPO Price Band is ₹100.
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What is Innomet Advanced Materials IPO Lot Size?
The minimum bid is 1200 Shares with ₹120,000 amount.
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What is the Innomet Advanced Materials IPO Allotment Date?
Innomet Advanced Materials IPO allotment date is September 16, 2024.
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What is the Innomet Advanced Materials IPO Listing Date?
Innomet Advanced Materials IPO listing date is September 18, 2024. The IPO is to be listed on NSE.
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What is the current GMP of Innomet Advanced Materials IPO?
The current GMP of Innomet Advanced Materials IPO is 95 (95.00%).
RHP:
RHP of Innomet Advanced Materials Limited IPO.
DRHP:
DRHP of Innomet Advanced Materials Limited IPO.
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What is the Innomet Advanced Materials IPO?
Innomet Advanced Materials IPO is an SME IPO. The company is going to raise ₹34.24 Crores via IPO. The issue is priced at ₹100 per equity share. The IPO is to be listed on NSE.
-
When will Innomet Advanced Materials IPO open for subscription?
The IPO is to open on September 11, 2024, for QIB, NII, and Retail Investors. The IPO will close on September 13, 2024.
-
What is Innomet Advanced Materials IPO Investors Portion?
The investors’ portion for QIB is 00%, NII is 50%, and Retail is 50%.
-
What is Innomet Advanced Materials IPO Issue Size?
Innomet Advanced Materials IPO issue size is ₹34.24 crores.
-
What is the Innomet Advanced Materials IPO Price Band?
Innomet Advanced Materials IPO Price Band is ₹100.
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What is Innomet Advanced Materials IPO Lot Size?
The minimum bid is 1200 Shares with ₹120,000 amount.
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What is the Innomet Advanced Materials IPO Allotment Date?
Innomet Advanced Materials IPO allotment date is September 16, 2024.
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What is the Innomet Advanced Materials IPO Listing Date?
Innomet Advanced Materials IPO listing date is September 18, 2024. The IPO is to be listed on NSE.
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What is the current GMP of Innomet Advanced Materials IPO?
The current GMP of Innomet Advanced Materials IPO is 95 (95.00%).
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