Innomet Advanced Materials IPO: Quick Steps To Check Allotment Status Online, GMP

The initial public offering of Innomet Advanced Materials Ltd recorded a stunning demand from investors as it was overwhelmingly subscribed by 323 times on its last day of bidding (i.e. Friday, September 13, 2024). The public issue was reportedly subscribed 226.97 times under retail investment segment and 367.77 times in others category by Friday. The 34.24 crore issued obtained bids for 1,05,34,03,200 shares against 3,252,000 shares for offer, according to reports.

It is worth mentioning that Innomet Advanced Materials IPO was subscribed 7.77 times on Day 2 (September 12), and 0.53 times on Day 1 (Sept 11).

Innomet Advanced Materials IPO was a fixed priced offer consisting of a completely fresh issue of 34.24 lakh shares.
Innomet Advanced seeks to use the funds raised through the public offer for working capital needs, financing capital expenditure for buying machinery & equipment, and repaying or prepaying, either fully or partially, specific outstanding borrowings from banks and financial institutions, as per reports available.

Expert Global Consultants Private Limited is the book running lead manager of the Innomet Advanced Materials IPO and market maker for the issue is Prabhat Financial Services.

The price for the offering was set at Rs 100 apiece. Retail investors were eligible to bid for a minimum lot size of 12,00 shares aggregating to Rs 1,20,000. Meanwhile, high net-worth investors were eligible to apply for a minimum lot size of 2400 shares aggregating to Rs 2,40,000.

Innomet Advanced Materials' IPO Share Allotment Status: It is likely to be finalised by today. It is expected to be listed on the NSE SME platform Emerge on September 18. Investors will be able to check allotment status of Innomet Advanced Materials IPO through Skyline Financial Services Private Ltd.

Here Is How To Check Innomet Advanced Materials IPO Allotment Status:

Open Skyline Financial Services Website (https://www.skylinerta.com/ipo.php)

Choose Innomet Advanced Materials Limited Under Check Application Status page.

Fill necessary details that may include the application number, PAN, or DPID/Client ID.

Click On search button.

Allotment status will be shown on screen.

Innomet Advanced Materials IPO GMP: The grey market premium of Innonmet Advanced Materials is Rs 95 as of 11:24 a.m. on Monday, indicating the gain of 95% as against the IPO price, as per chittorgarh.com. The likely listing price on the basis of GMP is Rs 195 per share.

Key Details About Innomet Advanced Materials IPO Timeline

The IPO Open Date of Innomet Advanced Materials was Wednesday, September 11 and the IPO Close Date was Friday, September 13. Allotment date is Monday, September 16. The refunds initiation date is Tuesday, September 17 and shares will be credited to Demat on Tuesday, September 17. Listing date is Wednesday, September 18.

About: Innomet Advanced Materials Limited, founded in 1984, produces metal powders and tungsten heavy alloys. It operates and specializes in two divisions namely metal powder manufacturing (ferrous and non-ferrous alloys) and tungsten heavy alloys component manufacturing. Under metal powder manufacturing (ferrous and non-ferrous alloys), the applications include powder metallurgy, diamond tools, welding, brazing, catalysts, surface coatings and aesthetics. While under tungsten heavy alloys component manufacturing, the applications include radiation shielding, balance weights, ballasts for general engineering, aeronautic, naval and aerospace segments, pre fragments for defence applications etc.