Innoventive Industries IPO
Innoventive Industries IPO — date, price band, lot size & details 2011
Innoventive Industries listed on 13 May 2011 at ₹111.95, 4.3% below the ₹117 issue price.
Innoventive Industries is a multi product engineering company making precision steel tubes, tubular and auto components, and machined parts. Its total income was Rs 392.22 crore in FY2010.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 26 Apr 2011
- Close 29 Apr 2011
- Allotment 06 May 2011
- Refund/credit TBA
- Listing 13 May 2011
Issue summary
The terms of the offer, as filed.
| IPO Dates | 26 to 29 Apr, 2011 |
|---|---|
| Price Band | ₹117 – ₹120 |
| Face Value | ₹10 |
| Lot Size | 50 Shares |
| Issue Size | ₹217.41 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 5,850 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 50 shares at the ₹117 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 50 | ₹5,850 |
| Retail (max) | 34 | 1,700 | ₹1,98,900 |
| S-HNI (min) | 35 | 1,750 | ₹2,04,750 |
| S-HNI (max) | 170 | 8,500 | ₹9,94,500 |
| B-HNI (min) | 171 | 8,550 | ₹10,00,350 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 275.93 crore in FY2008 to Rs 392.22 crore in FY2010.
- 02Profit after tax rose from Rs 3.30 crore in FY2008 to Rs 34.54 crore in FY2010.
- 03Net worth rose from Rs 24.73 crore in FY2008 to Rs 137.36 crore on 31 December 2010.
- 04It serves transport, oil and gas, power and farm equipment makers from 6 manufacturing facilities.
Risks · 5
- 01Profit was very low until recently, at Rs 3.30 crore in FY2008 and Rs 11.63 crore in FY2009.
- 02Steel prices drive its costs, and auto demand is cyclical; total assets were Rs 645.05 crore.
- 03Total assets doubled from Rs 315.59 crore in FY2008 to Rs 645.05 crore, so it is expanding fast.
- 04The issue was priced at Rs 117, the bottom of its price band.
- 05Promoter holding fell from 65.6% before the issue to 45.16% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Innoventive Industries offer document.
| Metric | 31 Dec 2010 | 31 Mar 2010 | 31 Mar 2009 | 31 Mar 2008 |
|---|---|---|---|---|
| Assets | 645.05 | 527.48 | 439.25 | 315.59 |
| Total Income | 381.50 | 392.22 | 350.81 | 275.93 |
| Profit After Tax | 31.77 | 34.54 | 11.63 | 3.30 |
| NET Worth | 137.36 | 70.90 | 36.36 | 24.73 |
| Reserves and Surplus | 98.90 | 65.90 | 31.36 | 19.73 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Innoventive Industries RHP.
Where the money goes
₹40.48 Cr of the issue is earmarked to named objects.
About the company
It makes and sells precision steel tubes, tubular components, auto components, machined components and other steel products, used in transport, oil and gas, power, farm equipment and general engineering.
It also developed hydraulic cylinder tubes, rubber to metal products and profiled tubes in house, and had six manufacturing facilities.
The IPO was Rs 217.41 crore and was entirely fresh issue at Rs 117, the bottom of the Rs 117 to Rs 120 band.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Innoventive Industries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Avendus Capital
11 issues handledBest listing: FirstCry (+40.0%). Weakest: Tribhovandas Bhimji Zaveri (-4.1%).
Axis Bank Ltd
9 issues handledBest listing: KNR Constructions (+23.5%). Weakest: Jaypee Infratech (-3.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Innoventive Industries?
The current Grey Market Premium is ₹0.
What is the Innoventive Industries IPO price band?
₹117 to ₹120, on a face value of ₹10.
When is the allotment?
The basis of allotment is 6 May 2011, with listing on 13 May 2011.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
