Innovatus Entertainment Networks Limited IPO Message Board (Page 3)

Top 5 customers’ contribution 78.59%, top 5 suppliers contribution 47.95%
The key promoter Azharudding Mulla is also promoter of Maagh Advt, its shares offered at Rs 60 are now traded @ Rs 30. Mr Mulla has listed his experience includes apple trading and supply among other things.
Poor earnings, poor cashflow
One of the directors is an undergraduate, staying in Nashik, and has 1 years experience. Wonder what he is contributing to the company
PAT of last 3 years is Rs 111 lacs which is half of increase in debtors of Rs 200 lacs
Main asset of the company, after receivables, is intangible asset, software. Company has 11 employees including 4 in management and 7 described as “others”.
Statutory auditor of the company is based in Ahmedabad, is it because company is unable to find CA in Mumbai to audit their financials ?
Bare balance sheet, poor cash flow, rag tag board of directors, promoter with unrelated experience, poor business visibility.

If someone is in doubt about applying or not, read @YBPK  COMMENTS :)

BTW very good analysis, but all these points or fundamental analysis have no affect on listing of IPO of small issue size.

Dear YBPK
Can u share ur major Portfolio Holdings.

@Dowg fundamentals matter for investor (people like me) who do not have information about operator / promoter behind the scene dynamics
Do not have anything major in portfolio

Although company financial and LM record not good. But it won't open in discount. One can go open.

Hi Noorul, when the financials and LM both are poor, then what is driving this IPO? Cant understand.. Any positives apart from subscription data which I am missing??

Many factors are there behind the curtain in SME listing. If everyone knows the game then who will be on loosing side here.

SOLD ALL APPLICATION S2 31k

@PLAZA just for my knowledge, how much loss the person who bought from you will suffer now? is it around 31K considering you've sold in pre-open for 50?

@PeterEngland No loss for buyer and no gain for me as there is NIL allotment

MM is same as in Moxsh

Any grey mkt purchaser from ncr

Going to apply YASONS and SHRI TECHTEX
Avoiding Innovatus (currently sub2 good but it will also not take much time to go down like Aatmaj Healthcare)

Fundamentally avoid
Still some brokers are offering Sub2 25k
With small size of 7 Cr, expect huge oversubscription (70x+ in retail)

Inspite of such a bad review by Mr. D D and other forum members, the SME is subscribed by more than 10x. It means the investors other than this forum has no idea about negatives of this issue. Mr. D D is giving his review as this forum member or other wise? He is such a senior analyst and his review might be available every in Economic news.
In view of today's subscription figures of retail, likely to subscribe not less than 50x but more.
Risky SME, AVOID for me, irrespective of subscription figures.
Now to wait for listing only and see how effective is the views of Mr. D D.
Large number of members have liked his post. But let's see the members who liked his post is going to apply or not. Not possible for us to know.

LM track record also not good. So its clearly AVOID this pricy IPO

@PKRAJ Sir, company is paying subject 25k.
I think a lot of subscription is coming from grey market deals.
Obviously there are people who may get lured into applying after looking at the subscription figures.

LM's past track record is atrocious and scary to say the least. It almost guarantees discount listing.

only 60 L profit...
taking 7.7 cr IPO ..
BIG AVOID

Till writing this comment on this IPO, its final prospectus is not available on any public domain like BSE, Lead Manager or the Company's own website. If one visits company's web, they have not yet created Investors page and no upload on its financial performance or board of directors and other compliance matters. This indicates that this company is not keen in sharing info and just wants to collect money from the public. Should investors invest in such company????

Sir  @Dilip Davda, If there is no proper description of this said company, then why did SEBI approve for IPOs, instead of delisting it and/or canceling its licence?

Regards,
Jeev

This one post saved my time and energy, and I completely ignored this IPO.
Thank You Dilip ji.

Every tom dick harry bringing some kachra shop and call it SME and want investor money. This LM should be boycotted such that he think 100 times to bring only decent SMEs. Stay home stay safe.

See

Stagnant financials. Infact adjust for inflation and it is actually declining steepily. Group company performing poorly after listing. These are clear by just superficial observations. One look at the LM performance, and it is scary. Bloodbath. One must say they are pretty consistent in this (under)performance.
GMP if believed, is giving another picture. Unable to rely on it though.
Avoid for me.

Last 7 IPOs are in dark RED. A clear avoid. I WILL SKIP. 🙏🏻

Listing ke kuch mahino me hi 50-70% niche milna chahiye

Clean avoid

As i said
It's a shit co
Trapped Investors
Already down around 18% from IPO Price
More downside possible
Pumped through Grey Markets

Poor LM record, Company sales are stagnant, trade receivables are increasing, which means company is doing the sales but not receiving the cash.
Another group company - Maagh adv is 50% down.
Only positive is small issue size. Very risky to apply open. Sell and apply only.

Same promoter as of Maagh Advertising(stock is 50% down from ipo price). It's a clear avoid. Wealth Destroyer.

@IPO AJ Thanks for sharing important information 👍

strong buyer 9 ahd...gujarat

One of the best money burner LM. If you want to lose money, you can invest confidently.😀😀😀

brlm is inventure

known for jee discount listing

last ipo
silver brand magh vilin all 50% donw
big weatlh destroy
save ur.money