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Innoventive Industries Ltd IPO (Innoventive Industries IPO) Detail

Apr 26, 2011 - Apr 29, 2011







Incorporated in 1991, Innoventive Industries Ltd is a multi-product engineering company engaged in the business of manufacturing and sale of precision steel tubes, tubular components, auto components, machined components and other steel products. Company's product used in different sectors such as transportation, oil & gas, power, farm equipments and general engineering. Innoventive have also developed hydraulic cylinder tubes, rubber to metal products and profiled tubes in house.

Innoventive have six manufacturing facilities located across Pune and Silvassa. They sell products in the domestic as well as export to 10 countries across the globe. In USA, they sell CEW tubes under the brand of ARIDOM through a long term arrangement with Salem Steel North America, LLC. They have over 475 customers worldwide. Major customers of Innoventive Industries include Bajaj Auto Ltd, Bharat Heavy Electricals Ltd, Thermax Ltd, John Deere India, Sundram Industries Ltd, Gabriel India Ltd and Alstom Projects Ltd. They source their primary raw material though Essar Steel Ltd, Ispat Industries Ltd and other major steel manufactures.

Company Promoters:

The promoters of the company are:
1. Mr. Chandu Chavan,
2. Mr. Sanjay Waghulade and
3. Mr. Ravindra Katre

Company Financials:

ParticularsFor the year/period ended (in Rs. Lakhs)
31-Dec-1031-Mar-1031-Mar-0931-Mar-0831-Mar-0731-Mar-06
Total Income38150.2039,222.2735,081.2727,592.6919,263.6111,722.18
Profit After Tax (PAT)3,177.303,454.011,162.86329.70550.921,017.70

Objects of the Issue:

The object of the Issue are:

1. Capacity Expansion of Manufacturing Facility;
2. Repayment of Term Loan; and
3. General Corporate Purpose.

Innoventive Industries IPO Details

Issue OpenApr 26, 2011 - Apr 29, 2011
Issue TypeBook Built Issue IPO
Issue Size18,767,521 Eq Shares of Rs 10
(aggregating up to Rs 219.58 Cr)
Face ValueRs 10 Per Equity Share
Issue PriceRs 117 - Rs 120 Per Equity Share
Market Lot50 Shares
Min Order Quantity50 Shares
Listing AtBSE, NSE

Innoventive Industries Ltd IPO Grading

This Issue has been graded 3 by ICRA Limited indicating 'Average Fundamentals'.The IPO grading is assigned on a five point scale from one to five with IPO Grade 5/5 indicating strong fundamentals and IPO Grade 1/5 indicating poor fundamentals. Click here to download the ICRA IPO Grading Document for Innoventive Industries Ltd.

Check IPO Ratings from other stock analysts.

Innoventive Industries Ltd IPO Tags:

Innoventive Industries IPO, Innoventive Industries Ltd IPO, Innoventive IPO Bidding, Innoventive IPO Allotment Status, Innoventive IPO drhp and Innoventive IPO listing.

Innoventive Industries IPO Subscription Status (Bidding Detail)

Innoventive Industries IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

QIB

NII

RII

Total

Shares Offered

9,383,760

2,815,128

6,568,633

18,767,521

Apr 29, 2011 18:00

0.85x

1.94x

1.48x

1.24x

Innoventive Industries IPO Prospectus

Innoventive Industries IPO Rating

300
3.9
Rating:Rated 3.9 stars

Vote Here ...

Innoventive Industries IPO Listing Date

Listing DateFriday, May 13, 2011
BSE Script Code533402
NSE SymbolINNOIND
Listing InB
ISININE549I01011
Issue PriceRs 117 Per Equity Share
Face ValueRs 10 Per Equity Share

Listing Day Trading Information

.
Issue Price
Open
Low
High
Last Trade
Volume
BSE
Rs 117.00
Rs 110.00
Rs 86.30
Rs 114.85
Rs 93.60
27,037,744
NSE
Rs 117.00
Rs 111.95
Rs 86.25
Rs 114.00
Rs 94.05
32,468,337

Innoventive Industries IPO Reviews / Ratings

Anand Rathi - Subscribe.
Aditya Birla Money - Subscribe for both short and long term perspective
MLR Securities - Avoid.
KR Choksey - Subscribe for long term.

Company Contact Information

Innoventive Industries Ltd
Gat No. 1261, Village Sanaswadi,
Pune Nagar Road, Taluka: Shirur,
Pune 412 208, Maharashtra, India

Phone: 91 2137 669001
Email: investor.grievance@innoventive.in
Website: http://www.innoventive.in

Innoventive Industries IPO Registrar

Karvy Computershare Private Limited
   Karvy Registry House, 8-2-596, St. No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Email: innoventive.ipo@karvy.com
Website: https://karisma.karvy.com/

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Innoventive Industries IPO Review / Comments

KAPIL DEV
262. KAPIL DEV  May 24, 2011 17:32 I Like It. | Report Abuse
Dear Raghu,

We have no other choice but to wait for some time.
Vishal Baxi
261. Vishal Baxi  May 21, 2011 18:06 I Like It. | Report Abuse
@261- Dear Raghu, you will see a jump upto Rs 100/- next week in Innoventive....you can quit at that time and minimise your loss. I suggest you to buy RCOM or Suzlon, as the valuations are quite attractive and you can see jump in these stocks.
Raghu one
260. Raghu one  May 20, 2011 17:07 I Like It. | Report Abuse
Hi,
I have been watching you comments/suggestions very closely and also following it.
But unfortunatelly ,I brought IPO of Innoventive Industries and now I am in panic though I am a long term invester.
Can you please suggest me what should I do?Shall I quit or retain it.
Thanks!!
Chintan Bhinde
259. Chintan Bhinde  May 16, 2011 13:43 I Like It. | Report Abuse
Innoventive Story is over.Now it is a dead stock.I am bearing a loss of 6500 k and selling.My resiliance is over.Bad luck to me and all the investors who lost their hard earned money
Jeetendrasinh kathia
258. Jeetendrasinh kathia  May 16, 2011 09:58 I Like It. | Report Abuse
THIRE THIRE UPER AA RAHA HE KYA LAGATA HAI
IPO LOOSER
257. IPO LOOSER  May 14, 2011 18:41 I Like It. | Report Abuse
To all 13k successful retail investors of innoventive...
pls. ask your broker to pass form's brokerage.. it will minimize someeeee loss only... because chandu&co. have given them rs. 1000 on 2 lacs application...
ARCHIT SHAH
256. ARCHIT SHAH  May 14, 2011 10:16 I Like It. | Report Abuse
Vijay

For cancellation you have directly mail to registar.

With scan copy of pan card and application number.

Also then you have to send hard copy by post
vijay
255. vijay  May 14, 2011 09:24 I Like It. | Report Abuse
dear sreedhar if a ipo application is made through online trading account (ie kotaksecurities)can the application be cancelled if after looking at the qib / hni category being poorly subscribed . I took a loss of 15k on 800 shares of innoventive industries .need to be careful next time
Madhur Kotharay
254. Madhur Kotharay  May 14, 2011 06:15 I Like It. | Report Abuse
Shreedhar, regarding your post 249:

1. Can you clarify your strategy in applying to junk companies? How do you use GMP for deciding on subscription? How do you check what shorting has taken place before IPO closes? Also, if GMP goes up because of shorting after closure but before listing, how do you capitalise on it?

2. Regarding Kostak, how do you decide which issues to sell in Kostak, and which to subscribe? I thought junk issues can also be sold in Kostak provided they get high retail subscription. It appears to me that you can sell Kostak for good companies where you expect a very high subscription. But, what about bad issues?

3. Going forward, with your explanation, it would suggest that Galaxy is a good company and expected to get high retail subscription. Also, it would not list at a high premium, if its QIB is not very high (say below 10x). So instead of applying to Galaxy, it is better to sell it in Kostak. Is this analysis correct?
chaitu s
253. chaitu s  May 14, 2011 05:49 I Like It. | Report Abuse
Reliance Mutual fund made buld deals at both NSE & BSE @98 approx.

So there is support arount this price.
Levin Lenus
252. Levin Lenus  May 14, 2011 00:19 I Like It. | Report Abuse
Sreedhar - Gr8 thanks for your advice
The points given are really valuable
I dint apply for innoventive, I feel sorry for the ppl incurred losses
Chintan Bhinde
251. Chintan Bhinde  May 13, 2011 23:08 I Like It. | Report Abuse
@251 Vishal Baxi

From where did you come across this news??
Vishal Baxi
250. Vishal Baxi  May 13, 2011 20:05 I Like It. | Report Abuse
Good news...Chandu Chavan, Chairman of Innoventive Industries, is exploring the idea of issuing bonus shares to those investors who has lose their money in this IPO, like the one given by Reliance Power in the year 2008
vas nat
249. vas nat  May 13, 2011 18:45 I Like It. | Report Abuse
Top Contributor Top Contributor (200+ Posts)
Friends - Just adding to what Sreedhar had said.


vas nat Apr 29, 2011 9:36:11 PM IST | Like | Report Abuse

vas nat's - IPO Recommendations, IPO Comments, Public Profile

Innoventive Industries Ltd IPO
Dear Sreedhar,

You have nailed the point in your final call to this ipo.

Ramky & Jaypee were cases of cheque stop payment for me. I felt bad doing this since I liked these companies but had no other option.

Again A2Z & PFS - both were tempting but desisted.

Now innoventive. Though I feel bad, I have to go with the market.
Sreedhar
248. Sreedhar  May 13, 2011 18:25 I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts)
Friends,
These are important points to consider before applying to an issue:
1)Never believe a brokerage report.All brokerage reports asked to subscribe for SCI,PFS,Innoventive etc.here is an excerpt from my previous message::

Sreedhar May 07, 2011 11:11:02 PM IST | I Like It. Like (1) | Report Abuse

Sreedhar's - IPO Recommendations, IPO Comments, Public Profile
Muthoot Finance Ltd IPO
SahranpuriJi,
Leave aside the brokerage firms.They just write favorable reports based on understanding with the IPO market hitting firms.
The same Morgan stanley which has given a sell call on SKS Micro at 400 has given a buy call at 1200.What do these people sitting in air conditioned offices with fancy MBA degrees know.Did they care to even visit the field places & inquire with the loan takers about microfin firms??The same capital market has given 48 & above to ramky,ptc financial etc.The brokerage reports can only serve one purpose gain some change by selling to raddiwala.

Our conviction in stocks is enough why go for these useless brokerage reports.

2)Distinguish between a quality company & a junk issue.A quality company which is not subscribed minimum 5 times in QIB for a big company & 10 times for companies like innoventive should not be subscribed.When a qib does not come to buy in IPO do not expect him to buy your shares when you are in a spelling spree.Here is an excerpt:
Sreedhar Apr 30, 2011 12:37:32 PM IST | I Like It. Like | Report Abuse

Sreedhar's - IPO Recommendations, IPO Comments, Public Profile
Power Finance Corporation Ltd FPO
SK Dash,
Lot of my friends from chittorgarh who were regular boarders have applied for Innoventive Industries.They all have withdrawn from the IPO now after my suggestion.The main threat is Innoventive industries is a quality company which has come out at higher valuations.100 percent of such companies have failed miserably example being PFS,Ramky,claris,hatwaycable,Jaypee & so on & it should meet the same fate.I told them only one thing when there is 99 percent odds of listing discount why should we risk our money.They will not blame me even if lists in premium .
Looks like you have applied & hope to continue in Innoventive, best of luck to you.

Sreedhar Apr 29, 2011 10:52:22 AM IST | I Like It. Like | Report Abuse

Sreedhar's - IPO Recommendations, IPO Comments, Public Profile
Power Finance Corporation Ltd FPO
Friends,
Both Servalakshmi & Innoventive are average issues . Innoventive being bigger & also is well known will be more susceptible to selling pressure.Remember quality companies which are subscribed less in QIB segment & which have priced their Issues a tad expensive mostly fail spectacularly as seen from Ramky,Jaypee,PFS,A2Z etc.Innoventive falls in this category.

3)never subscribe to junk companies.Junk companies require strategy.I had applied for Ravi distilleries ,acropetal & after finding people have shorted a lot before ipo. they covered a lot after the close which resulted in share premium touching 20-30 percent & a gain of 50 k per application.If you see there is no gmp change even after 2-3 days then stop your application.This requires a careful strategy which everyone may not be aware of.
4)Those who can sell in GMP sell only those kostaks in which retail is subscribed around 5 times.In this way you can make some money.If you sell 1 time subscribed issues like acropetal you need to pay 7000 as short term tax while you got only 2500 for selling kostak.

Time & again I have posted this message but people jumped bravely.My 100 percent sure prediction of Innoventive in discount even before issue closed & people were talking of 4 rs greymarket premium was based on this premise.If people still apply going after brokerage report,greymarket report then it is their karma.
Chintan Bhinde
247. Chintan Bhinde  May 13, 2011 17:33 I Like It. | Report Abuse
Dear Friends
Are there any chances of this one going upwards on Monday??
Please reply.
I am still Holding 300 Shares of it
Sreedhar
246. Sreedhar  May 13, 2011 16:45 I Like It. | Report Abuse
IPO Mentor IPO Mentor (900+ Posts)
SKDash,
great to know that fundamentals are not working.When it is over priced how will fundamentals work.There is always some value.Are QIBs fool to subscribe only 0.8 times for such an appealing issue.
SkDash
245. SkDash  May 13, 2011 16:32 I Like It. | Report Abuse
IPO Mentor IPO Mentor (600+ Posts)
244-Divya-good

now-a-days fundamentals are not working and ipo mkt is going as pure satta. i have applied 100 shares and sold at 107.65 in 1st 1 min. Loss 1000, however managed to recover a pert 700. Thanks God and all of you
Golmaal
244. Golmaal  May 13, 2011 15:56 I Like It. | Report Abuse
IPO Mentor IPO Mentor (800+ Posts, 500+ Likes)
divya sorry for your loss, apply in minimum quantity while applying in IPOs or instead of applying, better to trade on listing day if u have accounts with IIFL, indiabulls, sharekhan etc.

Unfortunately, i have account with icicidirect which is worst as u get delivery of shares only after 2 days and no intraday trading. I use it only for applying IPOs.

See that losses are minimal as well as gains by walking the middle line. Don't apply for too much shares where subscription levels are low.
divya goyal
243. divya goyal  May 13, 2011 15:48 I Like It. | Report Abuse
HI Friends,

I could get out @102 400 Shares
So Net Loss of 6K + Brokrage




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