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Innoventive Industries Ltd IPO Message Board (Page 13)

ARCHIT SHAH
22. ARCHIT SHAH  Apr 23, 2011 13:20
Dear Sreedhar,

This company is working good since from many years.
Also automobile market growth is good.
But i seems price is higher side for this company.

So please comment on this ipo.
amit mishra
21. amit mishra  Apr 22, 2011 20:30
dear sreedhar ravi shall we apply for innoventive ipo? my broker told me that not much activity is going in grey market.
LAKHVINDER VIRK
20. LAKHVINDER VIRK  Apr 22, 2011 17:39
IT WILL LIST AROUND 135-140
GOOD IPO
tejas j shah
19. tejas j shah  Apr 22, 2011 11:10
The Public Issue of Innoventive Industries going to open on 26-Apr-2011, in the Price Band of Rs. 117-120. The Issue seems heavily priced. As On 28-Sep-2010 they have done preferential allotement at a price of rs. 10 only & after 9 months of that event they are asking people to pay a price of rs. 120 (12 times higher). The Financial of the Company are as under:

Price Band: 117-120
EPS (2010-11) : 9.39 (Annualised)
P/E Ratio: 12.77 times

Generally Ancillaries companies commands a p/e of 7 times to 16 times depending upon the size of the company, margins etc. but looking towards this company which comes at p/e multiple of 12.77 does not leave a scope of listing gain & people should avoid this issue.
Gem ipo finder
18. Gem ipo finder  Apr 22, 2011 08:42
MY FIRST LOOK AT THE VALN:-

For 9 months ended dec’10 –

Sales = 343 cr
Pat = 37 cr
Nw = 149 cr

Expected for fy ’11-

Sales = 455 cr
Pat = 52 cr
Nw = 370 cr ( post ipo )
No of sh post ipo = 6 cr shares

So eps = 9
Bv = 60/sh


Therefore pe @ 120 comes to 13 times and price to book comes to 2 times.

Peers are trading at -

1) Tube Investments of India pe = 34
2) Lumax Auto Technologies pe = 25

as the co is in the business of tubes and auto components.


Conclusion:-

Asking pe of 13 times is not cheap of a steel value added co even jindal shaw or psl do not command that valn. In my opinion 15 pe can be given on listing and price should be 135 that is more or less justified.one can apply it amongst the current ipo , the size is also decent Rs 200 cr, the operators play will be missing I think.
santonu
17. santonu  Apr 21, 2011 22:36
Top Contributor Top Contributor (200+ Posts)
muthoot ipo becomes history now.among the other 5 , who is worth
Tambi Mohit
16. Tambi Mohit  Apr 21, 2011 18:37
Have some one idea Company has 141/- Nav and 46.12 EPS how can gave 120/- a share so cheep Its an Engineering company.
Chem cho
15. Chem cho  Apr 21, 2011 18:07
IPO Guru IPO Guru (1800+ Posts, 1700+ Likes)
INNOVATIVE INDUSTRIES IPO
GREY MARKET PREMIUM RS 8 WILL INCREASE AS THE ISSUE CLOSES ON 29/4/11
shekha
14. shekha  Apr 21, 2011 18:02
what is the gray market premium of innoventive ind. ltd.
Gem ipo finder
13. Gem ipo finder  Apr 21, 2011 14:53
Innoventive Industries (IIL), a Pune-based multiproduct engineering company, is entering the Indian capital markets with its initial public offer (IPO) aggregating Rs 219.58 crore. The price band of the issue has been fixed between Rs 117 to Rs 120.

Mas
12. Mas  Apr 21, 2011 09:52
Price Band 117/- to 120/-
santonu
11. santonu  Apr 20, 2011 23:14
Top Contributor Top Contributor (200+ Posts)
except innventive and muthhot ,other 4 deems to be junk
santonu
10. santonu  Apr 20, 2011 23:13
Top Contributor Top Contributor (200+ Posts)
whether ASBA for muthhoot fin IPO will be released by 29th so that i can apply for innoventive ipo
kumarguptaamit
9. kumarguptaamit  Apr 19, 2011 19:17
Hi all, I was wondering on the PAT growth figures of the Inoventive..from FY09 to Fy10, so I decided to chekcup with their corporate office and this is what i got to know..may be of some help for you folks..

As per their official records:

       FY10      FY09
Income(Cr)-->       421       362
EBIDTA (Cr)--> 115.10      70.20
PAT(Cr) -->      34.30      14.10


1. In FY 2009-10, they have introduced a new pilgering technology (patent filed) and this is leading to the savings of lot of energy, labour and other mfrng. cost and this is one reason for their increased profit between the FY09 and FY10. For full FY11- pilgering CEW pipes has already crossed 60cr of turnover.

2. Further they have got a special subsidy contribution from maharashtra govt, which was around 15 Cr in FY10 and would be approx. between 20-25 cr for FY11 and is likely to continue till FY15 atleast.

3. Further, if we look at their RHP's pg 52, we can understand the reason for high Raw material cost for FY09. which as per them was as follows:
fy09- the raw material cost prior to recession was quite high (already committed)
fy10- it was at normal level in fy10 and is also normal for FY11.

FY12 orderbook

order bok for the fy12 is almost 150cr from bajaj, 40-50 cr from thermax & bhel both, us export orders for about 100 cr approx. as the key ones.
total=300 cr approx. (atleast)..

just for information.. incase it might help few of us to take soem decision on whether to apply for thios ipo or not.. plus..some views on the above form our expert friends

thanks
MOTA BHAI
8. MOTA BHAI  Apr 19, 2011 16:49
GO FOR IT, if u r still left with funds after Muthoot Finance
Chem cho
7. Chem cho  Apr 19, 2011 15:55
IPO Guru IPO Guru (1800+ Posts, 1700+ Likes)
I WOULD GIVE FIRST PREFERENCE TO INNOVENTIVE AND THEN SECOND TO MUTHOOT IN THE CURRENT 5 IPO OPENING IN LAST WEEK OF APRIL
KK Natarajan
6. KK Natarajan  Apr 19, 2011 14:37
IPO Mentor IPO Mentor (500+ Posts)
Among the current lot only Muthoot and Innoventive look to be good.
vas nat
5. vas nat  Apr 19, 2011 13:13
Top Contributor Top Contributor (200+ Posts)
Future Ventures appears to have made up their mind on lowering the issue price to Rs.10-11 aginst earlier proposed idea of Rs.26-28 (Source : Business India)

Any thoughts on the valuation front?
Gem ipo finder
4. Gem ipo finder  Apr 19, 2011 12:57
FUTURE GROUP IS ONLY PROMISE.......

I WILL AVOID EVERY CO FROM THIS GROUP.......

REMEMBER FCH.......

THEIR PROMOTERS ARE OPORTUNIST THE LOOK FOR OPPORTUNITY TO OFFLOAD THEIR STAKES AT UNREALISTIC VALN EXAMPLE FCH......

500% AVOID FROM MY SIDE
Sreedhar
3. Sreedhar  Apr 19, 2011 12:47
IPO Mentor IPO Mentor (900+ Posts)
come on guys.Wat is this nonsense.The keeps keep piling on.Why are they falling upon each other to raise capital.its outrageous.Who pays these book managers, I do not know.No planning .Cant these people bring issue one after another.



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