Bookbuilding IPO | ₹217 Cr | Listed at BSE, NSE | Tue, Apr 26, 2011 - Fri, Apr 29, 2011
Innoventive Industries IPO is a book build issue of ₹217.41 crores. The issue is entirely a fresh issue of 1.86 crore shares of ₹217.41 crore.
Innoventive Industries IPO bidding started from Apr 26, 2011 and ended on Apr 29, 2011. The shares got listed on BSE, NSE on May 13, 2011.
Innoventive Industries IPO price band is set at ₹117 per share. The lot size for an application is 50. The minimum amount of investment required by an retail is ₹6,000 (50 shares) (based on upper price). The lot size investment for sNII is 35 lots (1,750 shares), amounting to ₹2,04,750, and for bNII, it is 171 lots (8,550 shares), amounting to ₹10,00,350.
Avendus Capital Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Innoventive Industries IPO RHP for detailed Information.
IPO Open
Tue, Apr 26, 2011
IPO Close
Fri, Apr 29, 2011
Issue Price
₹117 per share
Market Cap (Pre-IPO)
₹697.83 Cr
| IPO Date | 26 to 29 Apr, 2011 |
| Listed on | Fri, May 13, 2011 |
| Face Value | ₹10 per share |
| Price Band | ₹117 to ₹120 |
| Issue Price | ₹117 per share |
| Lot Size | 50 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,85,81,650 shares (agg. up to ₹217 Cr) |
| Fresh Issue | 1,85,81,650 shares (agg. up to ₹217 Cr) |
| Share Holding Pre Issue | 4,10,62,349 shares |
| Share Holding Post Issue | 5,96,43,999 shares |
| BSE Script Code / NSE Symbol | 533402 / INNOIND |
| ISIN | INE549I01011 |
Innoventive Industries IPO comprises a total issue size of 1,85,81,650 shares. Out of which, 92,90,825 (50.00%) are allocated to QIB, 27,87,247 (15.00%) allocated to NII 65,03,578 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 92,90,825 | 50.00% | NA |
| NII (HNI) Shares Offered | 27,87,247 | 15.00% | NA |
| Retail Shares Offered | 65,03,578 | 35.00% | 1,30,071 |
| Total Shares Offered | 1,85,81,650 | 100.00% |
Investors can bid for a minimum of 50 shares and in multiples thereof.
| 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 |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capacity Expansion of Manufacturing Facility | 16.31 |
| 2 | Repayment of Term Loans | 5.00 |
| 3 | General Corporate Purpose | 19.17 |
| KPI | |
|---|---|
| RoNW | 48.72% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 65.6% | 45.16% |
| Market Cap | ₹697.83 Cr. |
The Innoventive Industries IPO is subscribed 1.24 times on April 29, 2011 6:00:00 PM (Day 4). The public issue subscribed 1.48 times in the retail category, 0.85 times in the QIB category, and 1.94 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 0.85 | 93,83,760 | |
| NII | 1.94 | 28,15,128 | |
| Retail | 1.48 | 65,68,633 | |
| Total | 1.24 | 1,87,67,521 |
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 IPO, Innoventive Industries Ltd IPO, Innoventive IPO Bidding, Innoventive IPO Allotment Status, Innoventive IPO drhp and Innoventive IPO listing.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management fee | 6.52 |
| 2 | Underwriting commission, brokerage and selling commission | 2.17 |
| 3 | Registrar's fees | 0.03 |
| 4 | Advertisement and marketing expenses | 2.26 |
| 5 | Printing and distributions expenses | 1.35 |
| 6 | IPO Grading expenses | 0.10 |
| 7 | Advisors | 0.45 |
| 8 | Bankers to the Issue | |
| 9 | Others (including Monitoring Agent fees, SEBI filing fees, bidding software expenses, depository charges, listing fee etc.) | 2.71 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹117.00 | ₹117.00 |
| Open | ₹110.00 | ₹111.95 |
| Low | ₹86.30 | ₹86.25 |
| High | ₹114.85 | ₹114.00 |
| Last Trade | ₹93.60 | ₹94.05 |
Lead Manager Reports
Innoventive Industries IPO is a main-board IPO of 1,85,81,650 equity shares of the face value of ₹10 aggregating up to ₹217 Crores. The issue is priced at ₹117 per share. The minimum order quantity is 50.
The IPO opens on Tue, Apr 26, 2011, and closes on Fri, Apr 29, 2011.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Innoventive Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Innoventive Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Innoventive Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Innoventive Industries IPO opens on Tue, Apr 26, 2011 and closes on Fri, Apr 29, 2011.
Innoventive Industries IPO lot size is 50, and the minimum amount required for application is ₹5,850.
You can apply in Innoventive Industries IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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 Fri, May 13, 2011.
