Innomet Advanced Materials, a prominent player in the field of metal powders and tungsten heavy alloys, is preparing for its IPO, marking a significant milestone in the realm of powder metallurgy. The company’s IPO is a fixed price issue, amounting to ₹34.23 Crores and consisting entirely of a fresh issue of 34.23 Lakh shares. The subscription period is set to begin on September 11, 2024, and conclude on September 13, 2024. The allotment of shares is anticipated to be finalized around September 16, 2024, with a tentative listing date on the NSE SME scheduled for September 18, 2024.

The share price for this IPO is set at ₹100 per equity share, with a minimum lot size of 1,200 shares. Retail investors must invest a minimum of ₹120,000, while High-Net-Worth Individuals (HNIs) are required to invest in a minimum of 2 lots (2,400 shares), totaling ₹240,000.

EXPERT GLOBAL CONSULTANTS PRIVATE LIMITED is the book-running lead manager, while SKYLINE FINANCIAL SERVICES PRIVATE LIMITED will act as the registrar for the issue. Prabhat Financial Services Limited is designated as the sole market maker for the Innomet Advanced Materials IPO.

As of September 12, 2024, the grey market premium (GMP) for the Innomet Advanced Materials IPO is projected to be in the range of ₹35 to ₹40. This suggests potential listing gains of approximately 35% to 40%. It’s important to note that the grey market premium is subject to demand and supply dynamics and does not guarantee actual market performance.

The live subscription status as of 04:00 PM on September 12, 2024, shows that the IPO has been subscribed 4.81 times on its second day of the subscription period. For the latest updates, investors can check the IPO live subscription status on the NSE website.

The proceeds from the IPO will be utilized for several key objectives:

₹1159.70 Lakhs for funding the working capital of the company.

₹788.20 Lakhs for capital expenditure towards the purchase of machinery and equipment.

₹209.19 Lakhs for the repayment or prepayment of outstanding borrowings.

₹850.00 Lakhs for general corporate purposes.

₹416.51 Lakhs for issue expenses.

Innomet Advanced Materials boasts a steady financial performance with revenue increasing from ₹2,240.35 Lakhs in FY22 to ₹2,955.45 Lakhs in FY24. EBITDA and PAT also reflect positive growth trends. The pre-issue EPS stands at ₹2.65, with a post-issue EPS of ₹1.94. The P/E ratios and ROCE/ROE metrics suggest that the IPO is fairly priced.

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