Innomet Advanced Materials IPO Subscription Status

Innomet Advanced Materials' initial public offering (IPO) has garnered significant investor interest, with subscription rates climbing steadily over the three-day period. Starting modestly on day one, the IPO witnessed a surge in demand, resulting in an impressive 25.96 times oversubscription by the close of day three. This strong response underscores the robust market appetite for Innomet Advanced Materials' shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 11th September 2024, has seen increasing investor participation across categories. The Retail segment, in particular, has shown exceptional demand, while the Non-Institutional Investors (NII) category has also demonstrated strong interest.

This enthusiastic response to Innomet Advanced Materials' IPO comes amid positive sentiment in the Indian stock market, particularly towards companies in the advanced materials and metal powders sector. The company's diverse product range and international presence appear to have resonated well with investors looking for exposure to India's growing manufacturing and technology industries.

Subscription Status of Innomet Advanced Materials IPO for Days 1, 2, and 3:

On day 1, Innomet Advanced Materials IPO was subscribed 0.53 times. By the end of day 2, the subscription status had risen to 7.77 times; on day 3, it reached 25.96 times.

Here are the subscription details for Innomet Advanced Materials IPO as of Day 3 (13th September 2024 at 11:46:00 AM):

Total Applications: 50,829

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range. 
• ** The portion of anchor investors (or market makers) is not included in the total number of shares offered. 
• *** Market Maker portion is not included to NII/HNI.

Key Highlights:

• The IPO of Innomet Advanced Materials is currently subscribed 25.96 times, with strong demand across investor categories.
• Retail investors have shown exceptional interest, with a subscription ratio of 37.51 times.
• Non-Institutional Investors (NII) have demonstrated solid enthusiasm, with a subscription ratio of 13.47 times.
• The overall subscription trend shows a significant increase day-on-day, indicating high investor confidence and positive sentiment towards the issue.

Innomet Advanced Materials IPO - Day 2 Subscription at 7.77 Times

Key Highlights:

• On Day 2, Innomet Advanced Materials' IPO was subscribed 7.77 times, with strong demand from Retail Individual Investors (RII).
• Retail investors showed increased interest with a subscription ratio of 10.99 times, nearly thirteen times their subscription from the previous day.
• Non-Institutional Investors (NII) showed significantly increased interest with a subscription ratio of 3.63 times.
• The overall subscription trend indicated building momentum, with both retail and NII categories showing increased participation.

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Innomet Advanced Materials IPO - Day 1 Subscription at 0.53 Times

Key Highlights:

• The IPO of Innomet Advanced Materials was subscribed 0.53 times on Day 1, with initial demand primarily from Retail Individual Investors (RII).
• Retail investors showed early interest with a subscription ratio of 0.85 times, indicating positive sentiment among individual investors.
• Non-Institutional Investors (NII) showed limited initial interest with a subscription ratio of 0.21 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Innomet Advanced Materials IPO

Innomet Advanced Materials Limited, incorporated in 1984, manufactures Metal Powders and Tungsten Heavy Alloys. The company operates through two divisions: Innomet Powders and Innotung.

Key features of Innomet Advanced Materials:

• Complies with Quality Management System Standard: ISO 9001:2015 for manufacturing and supply of Ferrous & Non-Ferrous Metal/Alloy Powders and Tungsten Heavy Alloy components
• Offers a diverse range of over 20 products, including copper, bronze, brass, nickel, tin, and stainless-steel powders
• Specialises in producing custom grades of metal and alloy powders containing iron, copper, nickel, tin, zinc, and cobalt
• Has supplied products in India as well as in US, UK, Germany, Netherlands, Japan, Italy, New Zealand, Lebanon and Brunei
• 56 employees in various departments as of 31st March 2024

Highlights of the Innomet Advanced Materials IPO

• IPO Date: 11th September 2024 to 13th  September 2024
• Listing Date: 18th September 2024 (Tentative)
• Face Value: ₹10 per share
• IPO Price: ₹100 per share
• Lot Size: 1200 Shares
• Total Issue Size: 3,423,600 shares (aggregating up to ₹34.24 Cr)
• Fresh Issue: 3,423,600 shares (aggregating up to ₹34.24 Cr)
• Issue Type: Fixed Price Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Expert Global Consultants Private Limited
• Registrar: Skyline Financial Services Private Ltd
• Market Maker: Prabhat Financial Services