Innomet Advanced Materials IPO Blows Up 47x on Final Day – Discover Latest GMP and Key Facts Now!

The IPO of Innomet Advanced Materials, which started on Wednesday, September 11, is set to close today, Friday, September 13. The ₹34.24 crore IPO has attracted significant interest from both retail and non-institutional investors.

IPO Subscription Status

As of 12:54 pm today, the IPO has been subscribed 47.40 times. The company received bids for 15,41,66,400 shares against the 32,52,000 shares on offer, excluding the market maker portion.

• Retail Portion: Subscribed 59 times, with bids for 9,60,13,200 shares against 16,26,000 available.
• Non-Institutional Buyers: Subscribed 34.8 times, with bids for 5,66,36,400 shares against 16,26,000 available.

Latest GMP

The grey market premium (GMP) for the IPO is ₹95. This suggests that shares might list at ₹195, reflecting a 95% premium.

IPO Details

• Issue Size: Fresh issue of 34.24 lakh shares.
• Price: ₹100 per share.
• Minimum Investment: ₹1,20,000 for a lot of 1200 shares.

The share allotment status is expected to be finalised on Monday, September 16. Successful bidders will see their shares credited to their demat accounts on Tuesday, September 17, while refunds for unsuccessful applicants will also be processed on the same day. The shares are expected to list on the NSE SME platform on Wednesday, September 18.

Company Overview

Innomet Advanced Materials makes metal powders and tungsten-heavy alloys, offering over 20 products, including copper, bronze, brass, nickel, tin, and stainless steel powders. The company serves various domestic and international customers.

Financial Performance:

• FY22: Profit of ₹55.17 lakh
• FY23: Profit of ₹3.22 crore
• FY24: Profit of ₹2.52 crore

The company plans to use the funds from the IPO for working capital, paying off debt, and general corporate purposes.