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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

IPO Opening Date Apr 26, 2011
IPO Closing Date Apr 29, 2011
Issue Type Book Built Issue IPO
Face Value ₹10 per equity share
IPO Price ₹117 to ₹120 per equity share
Market Lot 50 Shares
Min Order Quantity 50 Shares
Listing At BSE, NSE
Issue Size18,767,521 Eq Shares of ₹10
(aggregating up to ₹219.58 Cr)

Innoventive Industries IPO Lot Size

The Innoventive Industries IPO market lot size is 50 shares. A retail-individual investor can apply for up to 33 lots (1650 shares or ₹198,000).

Application Lots Shares Amount (Cut-off)
Minimum 1 50 ₹6,000
Maximum 33 1650 ₹198,000

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.

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)

The Innoventive Industries IPO is subscribed 1.24 times on 4/29/2011 6:00:00 PM. The public issue subscribed 1.48 in the retail category, 0.85 in the QIB category, and 1.94 in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB0.85
NII1.94
Retail1.48
Total1.24

Innoventive Industries IPO Rating

300
3.9
Rating:Rated 3.9 stars
Vote Here ...

Innoventive Industries IPO Listing Date

Listing Date Friday, May 13, 2011
BSE Script Code 533402
NSE Symbol INNOIND
Listing In B Group of Securities
ISIN INE549I01011
IPO Price ₹117 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹117.00
₹110.00
₹86.30
₹114.85
₹93.60
NSE
₹117.00
₹111.95
₹86.25
₹114.00
₹94.05

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

KFintech Private Limited

Phone: 04067162222, 04079611000
Email: innoventive.ipo@karvy.com
Website: https://karisma.kfintech.com/

Innoventive Industries IPO Reviews / Ratings

Innoventive Industries IPO FAQs

Innoventive Industries IPO is a main-board IPO of 18,767,521 equity shares of the face value of ₹10 aggregating up to ₹219.58 Crores. The issue is priced at ₹117 to ₹120 per equity share. The minimum order quantity is 50 Shares.

The IPO opens on Apr 26, 2011, and closes on Apr 29, 2011.

KFintech Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

The Innoventive Industries IPO opens on Apr 26, 2011 and closes on Apr 29, 2011.

Innoventive Industries IPO lot size is 50 Shares and the minimum order quantity is 50 Shares.

You can apply in Innoventive Industries IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Innoventive Industries IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Innoventive Industries IPO allotment status.

The Innoventive Industries IPO listing date is on Friday, May 13, 2011.

Innoventive Industries IPO Message Board

Ranked Members  Ranked Members

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262 Comments

262. KAPIL DEV |May 24, 2011 6:32:06 PM
Dear Raghu,

We have no other choice but to wait for some time.
261. Vishal Baxi |May 21, 2011 7:06:24 PM
@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.
260. Raghu one |May 20, 2011 6:07:03 PM
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!!
259. Chintan Bhinde |May 16, 2011 2:43:58 PM
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
258. Jeetendrasinh kathia |May 16, 2011 10:58:00 AM
THIRE THIRE UPER AA RAHA HE KYA LAGATA HAI
257. IPO LOOSER |May 14, 2011 7:41:19 PM
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...
256. ARCHIT SHAH |May 14, 2011 11:16:47 AM
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
255. vijay |May 14, 2011 10:24:07 AM
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
254. Madhur Kotharay |May 14, 2011 7:15:46 AM
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?
253. chaitu s |May 14, 2011 6:49:42 AM
Reliance Mutual fund made buld deals at both NSE & BSE @98 approx.

So there is support arount this price.
252. Levin Lenus |May 14, 2011 1:19:42 AM
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
251. Chintan Bhinde |May 14, 2011 12:08:44 AM
@251 Vishal Baxi

From where did you come across this news??
250. Vishal Baxi |May 13, 2011 9:05:14 PM
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
249. vas nat |May 13, 2011 7:45:47 PM
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.
248. Sreedhar |May 13, 2011 7:25:09 PM
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.
247. Chintan Bhinde |May 13, 2011 6:33:16 PM
Dear Friends
Are there any chances of this one going upwards on Monday??
Please reply.
I am still Holding 300 Shares of it
246. Sreedhar |May 13, 2011 5:45:33 PM
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.
245. SkDash |May 13, 2011 5:32:45 PM
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
244. Golmaal |May 13, 2011 4:56:51 PM
IPO Mentor IPO Mentor (900+ Posts, 600+ 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.
243. divya goyal |May 13, 2011 4:48:17 PM
HI Friends,

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