Innomet Advanced Materials Limited

11 Sep 2024 - 13 Sep 2024 Individual Category SME NSE

Min Investment

₹120000

Price Band

₹100

Issue Size

34.24 lakhs
Equity Shares

Lot Size

1200

IPO Dates
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11 Sep 2024

Open Date

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13 Sep 2024

Close Date

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16 Sep 2024

Allotment Date

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18 Sep 2024

Listing Date

Innomet Advanced Materials Limited IPO is open for subscription from Wednesday, September 11, 2024, and closes on Friday, September 13, 2024. The price for this IPO is set at Rs 100 per share. Innomet Advanced Materials Limited IPO is offering entirely a fresh issue of 34.23 lakh equity shares worth up to Rs 34.24 crore equity shares. The allotment for this new IPO is expected to be finalised on Monday, September 16, 2024. The listing of this IPO will be done on Wednesday, September 18, 2024, at the NSE SME segment. The minimum lot size set for the retail category is 1 lot, i.e., 1200 shares. For retail investors, the minimum and maximum investment amount required is Rs 120,000. However, for the HNI category, the minimum lot size is 2 lots, i.e., 2400 shares amounting to Rs 240,000. The IPO is managed by Expert Global Consultants Private Limited, which is the book-running lead manager of this public issue. The company has appointed Skyline Financial Services Private Limited as the registrar for the issue.

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About Innomet Advanced Materials Limited

Innomet Advanced Materials Limited, incorporated in 1984, specialises in manufacturing metal powders and tungsten heavy alloys. The company operates two divisions, Innomet Powders and Innotung, producing a diverse range of products such as copper, bronze, brass, nickel, tin, and stainless-steel powders, along with custom grades designed for specific industrial applications. Innomet is ISO 9001:2015 certified, ensuring high standards in its manufacturing processes. Its products are supplied across India and internationally, reaching markets in the US, UK, Germany, Japan, and Italy. As of March 31, 2024, the company employs 56 people across various departments.

Founded

1984

Managing Director

Lakshmi Kanthamma Chilakapati, Saritha Devi Chilakapati and Vinay Choudhary Chilakapati

Parent Organization

IPO Objectives

The company proposes to utilise the proceeds from the net issue for the various purposes including funding for working capital requirements, Capital Expenditure for machinery and equipment, Repayment/Prepayment in full or part of some bank and financial institution borrowings outstanding as on the date of this Information Memorandum, General corporate purposes and Issue-related expenses

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0

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