Innomet Advanced Materials IPO

Incorporated in 1984, Innomet Advanced Materials Limited manufactures Metal Powders and Tungsten Heavy Alloys. The company has two divisions. Innomet Powders. Innotung. Innomet complies with the Quality Management System Standard: ISO 9001:2015 for the manufacturing and supply of Ferrous & Non-Ferrous Metal/Alloy Powders and Tungsten Heavy Alloy components. The company offers a diverse range of over 20 products, including copper, bronze, brass, nickel, tin, and stainless-steel powders for various industries. They specialize in producing custom grades of metal and alloy powders containing iron, copper, nickel, tin, zinc, and cobalt. The company has supplied its products in India as well as in US, UK, Germany, Netherlands, Japan, Italy, New Zealand, Lebanon and Brunei. As of March 31, 2024, the company has 56 employees in various departments.

The Company proposes to utilize the funds which are being raised through this Issue (“Net Proceeds”) towards the following object: Funding working capital requirements of the Company; Funding of capital expenditure requirements of the company towards the purchase of machinery and equipment; Repayment or prepayment, in whole or in part, of all or a portion of certain outstanding borrowings availed by the company, from banks and financial institutions; General corporate purposes; and Issue Expenses

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