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- Innomet Advanced Materials Ltd
Innomet Advanced Materials Ltd
In 1998, the Company started a proprietorship called Prasad Innovations, engaged in the manufacture of Diamond Tools. In 2005, the Company diversified and concentrated into Metal / Alloy powder manufacturing. It thereafter, got into advanced technological Tungsten Heavy Alloys space in 2010.
In 2018, the Company signed an agreement with IIT Madras for Development of ODS alloys and is presently engaged in manufacture of Diamond Tools, Metal Powders (Ferrous, Non-Ferrous and their Alloys) and Tungsten Heavy Alloys (THA). The work of the Company falls under the industry of metal powder metallurgy.
Innomet has been found to be in conformity with the Quality Management System Standard: ISO 9001:2015 with a scope of manufacturing and supply of Ferrous & Non-Ferrous Metal/Alloy Powders and Tungsten Heavy Alloy components. The Company operate into two divisions with brand names as Innomet Powders and Innotung.
Through Innomet Powders, they are global manufacturers of Metal and Alloy Powders through water, air and gas atomization processes. The Company has over 20 products including Copper, Bronze, Brass, Nickel, Tin and Stainless-Steel Powders for several industries and specialize in manufacturing customized grades of Metal/Alloy Powders containing Iron, Copper, Nickel, Tin, Zinc and Cobalt. Innomet is currently catering to Powder Metallurgy Components, Diamond Tools, Welding, Brazing, Catalyst, Surface Coatings, Aesthetics and many others.
Innotung, is the brand for 'The Tungsten Heavy Alloy series' manufactured through Powder Metallurgy process by Company. They supply the material in the form of bars, plates, cubes, spheres and components of various sizes and shapes also in finished machined condition as per customer drawings. Their applications include Defence, Aerospace, Radiation Shielding, Sporting and Engineering.
The Company is proposing the Initial Public Offering of 34,24,000 Fresh Issue Equity Shares.
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Innomet Advanced Materials Ltd IPO Timeline
Innomet Advanced Materials Ltd IPO opens on 11-Sep-2024, and closes on 13-Sep-2024. The Innomet Advanced Materials Ltd IPO bid date is from 11-Sep-2024 to 13-Sep-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.
| Event | Date |
|---|---|
| Innomet Advanced Materials Ltd IPO Opening Date | 11-Sep-2024 |
| Innomet Advanced Materials Ltd IPO Closing Date | 13-Sep-2024 |
| Basis of Allotment | 16-Sep-2024 |
| Initiation of Refunds | 17-Sep-2024 |
| Credit of Shares to Demat | 17-Sep-2024 |
| Innomet Advanced Materials Ltd IPO Listing Date | 18-Sep-2024 |
Innomet Advanced Materials Ltd IPO Lot Size
Innomet Advanced Materials Ltd IPO lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or 120000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹120000 |
| Maximum | 1 | 1200 | ₹120000 |
Innomet Advanced Materials Ltd IPO Details
| Innomet Advanced Materials Ltd IPO Date | 11-Sep-2024 to 13-Sep-2024 |
| Innomet Advanced Materials Ltd IPO Face Value | Shares of ₹10 per share |
| Innomet Advanced Materials Ltd IPO Price | ₹100 per share |
| Innomet Advanced Materials Ltd IPO Lot Size | 1200 |
| Issue Size | Shares of ₹10 (aggregating up to ₹34.24 Cr) |
| Fresh Issue | Shares of ₹10 (aggregating up to ₹34.24 Cr) |
| Offer for Sale | - |
| Issue Type | Fixed Price - SME |
| Listing At | NSE - SME |
| QIB Shares Offered | - |
| Retail Shares Offered | - |
| NII (HNI) Shares Offered | - |
| Company Promoters | Lakshmi Kanthamma Chilakapati, Saritha Devi Chilakapti, Vinay Chowdhary Chilakapati. |
Objects of the Issue
The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1 Funding working capital requirements of the company
- 2 Funding of capital expenditure requiremnts of the company towards purchase of machinery and equipment
- 3 Repaymenr or prepayment in full 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
Company Financials
Innomet Advanced Materials Ltd Financial Information (Restated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 03-2024 | 34.17 | 29.55 | 2.52 |
| 03-2023 | 22.57 | 27.15 | 3.22 |
| 03-2022 | 15.89 | 22.40 | 0.55 |
| Amount in ₹ Crore | |||
- Experienced Management team having knowledge to scale up and expand into new opportunities.
- Dedicated technical & functional team to provide solutions to our customers.
- Experience of handling large & complex projects.
- Multi-year relationships with most customers.
- Improving operational efficiency.
- The company has experienced negative cash flows in relation to its operating, investing and financing activities in the last three financial years. Any negative cash flows in the future would adversely affect its results of operations and financial condition.
- Its Directors & Promoters, Senior Management and Key Managerial Personnel have no interests other than reimbursement of expenses incurred and normal remuneration or benefits in the Company.
- Employee misconduct, errors or fraud could expose it to business risks or losses that could adversely affect business prospects, results of operations and financial condition.
- There are outstanding litigations involving the Company, Promoters and Directors which, if determined adversely, may affect its business and financial condition.
- The company requires a number of approvals, NOCs, licenses, registrations and permits in the ordinary course of its business. Some of the approvals are required to be obtained by it and any failure or delay in obtaining the same in a timely manner may adversely affect its operations.
- The average cost of acquisition of Equity Shares by its Promoters may be lower than the Issue Price.
- The company has significant power requirements for continuous running of its factories. Any disruption to its operations on account of interruption in power supply or any irregular or significant hike in power tariffs may have an effect on its business, results of operations and financial condition.
- The company does not have long-term agreements with its suppliers or customers and the loss of one or more of them or a reduction in their demand for its products could adversely affect its business, results of operations, financial condition and cash flows. Further, its inability to accurately forecast demand for the company products or manage its inventory or working capital requirements may have an adverse effect on its business, results of operations and financial condition.
- The compzany has issued Equity Shares at prices that may be lower than the Issue Price in the last 12 months.
- Its operations depends on the availability of timely and cost-efficient transportation and other logistic facilities and any prolonged disruption may adversely affect its business, results of operations, cash flows and financial conditions.
- Industry information of the Company included in this Prospectus has been derived from different industrial association and other governmental sources and reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate. The company has not received consent from the respective sources for the use of industry information in this prospectus.
- The titles of its registered office are not in the name of the Company and in the event need be arise, its may not be able to use the premises during the time without incurring any extra cost.
- The company is yet to receive No Objection Certificate (NOC) in respect of proposed Initial Public Offer from its Bankers and other Secured Lenders and in case the company fails to receive the same before the opening of its issue, the company may be required to refund the money borrowed from them before the due date in which event its liquidity shall be adversely affected.
- There have been certain non-compliance in past in relation to corporate law matters and its may be subjected to penalty in respect of them in which event the company financials may be adversely affected.
- The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially have an adverse effect on its business.
- There is no guarantee that its Equity Shares will be listed on the Stock Exchanges in a timely manner or at all.
- Its ability to pay dividends in the future will depends on the company earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of its financing arrangements.
- Its inability to manage the demand of existing product range and the company's manufacturing capacities and execute its growth strategy in a timely manner or within budget estimates, or its inability to meet the expectations to track the changing preferences of its customers or other stakeholders could have an adverse effect on its business, results of operations and financial condition.
- Its insurance coverage may not be sufficient or adequate to protect it against all material hazards or business losses, which may adversely affect its business, results of operations and financial condition.
- The Company requires significant amount of working capital for a continued growth. Its inability to meet the company working capital requirements may have an adverse effect on its results of operations.
- Any defaults or delay in payment by a significant portion of its customers, may have an adverse effect on the company cash flows, results of operations and financial condition.
- Changes in technology may affect its business by making the company equipment or products less competitive or obsolete.
- Significant disruptions of information technology systems or breaches of data security could adversely affect its business.
- Its Object has not been appraised by any Bank or Financial Institution. Any significant deviation in the Object could adversely impact its operations and sustainability in absence of any independent monitoring agency.
- There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the company Board of Directors, though it shall be monitored by its Audit Committee.
- The company is subject to the restrictive covenants of banks in respect of the Loan/Credit Limit and other banking facilities availed from them.
- Its Promoters and Promoter Group will continue to exercise control post completion of the Issue and will have considerable influence over the outcome of matters.
- Its may requires additional financing for the company's business operations and the failures to obtain additional financing on terms commercially acceptable to it may adversely affect its ability to grow and the company future profitability. Further, fluctuations in interest rates could adversely affect its results of operations.
- Certain information contained in this Prospectus is based on management estimates and its cannot assure you of the completeness or accuracy of the data.
- In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect its revenues and results of operations.
- Portion of its Issue Proceeds are proposed to be utilized for general corporate purposes which constitute 24.83% of the Issue Proceed. As on date the company has not identified the use of such funds.
- The requirements of being a listed company may strain its resources and distract management.
- Heavy reliance on the top 10 suppliers introduces a potential risk for significant purchases.
- The Company has not entered into any written agreements or contracts with its customers for sale of its products.
- The company's manufacturing process requires its laborers to work under potentially dangerous circumstances. In the event of any accidents, the Company may be held liable for damages and penalties which may impact the financials of the Company.
- The Company has not entered into any written agreements or contracts with Government bodies for sale of its products as a customer.
- There are some delay filing of certain GST forms and EPF returns and also delay in making statutory payment by the company.
- Its Promoter, Mrs. Lakshmi Kanthamma Chilakapati, does not possess the requisite educational qualification certificates or significant work experience.
- Unsecured loans taken by the Company can be recalled by the lenders at any time.
- The Company is yet to place orders for its plant & machinery for its proposed object, as specified in the Objects of the Issue. Any delay in placing orders, procurement of plant & machinery may delay its implementation schedule and may also lead to increase in price of these plant & machinery, further affecting its revenue and profitability.
- Import substitution.
- Going up the technology chain.
- Components for Hydrogen Economy.
- Materials for EV Battery.
- Working with IITs for indigenization of powders for Additive Manufacturing.
- Implementing ERP.
- Implementing Aerospace Standards.
- Usage of Green Power.
Innomet Advanced Materials Ltd IPO Promoter Holding
| Pre Issue Share Holding | 74.51% |
| Post Issue Share Holding | 54.80% |
Innomet Advanced Materials Ltd IPO Subscription Status (Bidding Detail)
The Innomet Advanced Materials Ltd IPO is subscribed 282.5436 times on Sep 13, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| Subscription (times) | - | - | - | - | 282.5436 |
Innomet Advanced Materials Ltd IPO Prospectus
Innomet Advanced Materials Ltd IPO Listing Date
| Listing Date | 18 Sep 24 |
| BSE Script | - |
| NSE Symbol | - |
| Listing In | NSE - SME |
| ISIN | INE0S1D01010 |
| IPO Price | ₹100 |
| Face Value | ₹10 |
Innomet Advanced Materials Ltd IPO Registrar
Skyline Financial Services Pvt
Phone: +91 22 2851 1022;
Email: ipo@skylinerta.com;
Website: www.skylinerta.com
Innomet Advanced Materials Ltd IPO Lead Manager(s)
- Expert Global Consultants Pvt Ltd
FAQs on Innomet Advanced Materials Ltd IPO
Innomet Advanced Materials Ltd IPO, which opens for subscription from 11-Sep-2024 to 13-Sep-2024 has an issue size of ₹34.24 crore. The issue type is book building issue.
In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Innomet Advanced Materials Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.
Innomet Advanced Materials Ltd IPO Opens for subscription from 11-Sep-2024 to 13-Sep-2024.
The lot size of Innomet Advanced Materials Ltd is 1200 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹120000 and ₹120000 respectively.
Allotment date for Innomet Advanced Materials Ltd is 16-Sep-2024 and refund of application amount (in case allotment is not received) will begin from 17-Sep-2024. If your allotment goes through, then shares will be credited in your Demat account by 17-Sep-2024.
The registrar for Innomet Advanced Materials Ltd IPO is Skyline Financial Services Pvt. You can check your IPO allotment status on the registrar's website.
The shares of Innomet Advanced Materials Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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