The IPO of Innoventive Industries Limited has received a very little response from the investors with the 3rd day subscription figure reached to just 0.87 times on an overall basis. Innoventive Industries IPO is open on 26th Apr 2011 and will get closed on 29th Apr 2011 for subscription. The IPO has managed to get a little bit better response from Retail Individual Investors Category where it overbid by 0.93 times on the 3rd day of subscription. The price band for the issue is Rs 117 at lower level and Rs 120 at upper level. Innoventive Industries Limited is engaged in the business of manufacturing and sale of precision steel tubes, tubular components, auto components, machined components and other steel products. Its products meet stringent requirements of Surface Finish, Wall Thickness, Dimension Tolerance and Mechanical Properties required by discerning global customers.
The category-wise subscription status of IPO on closing of 3rd day is given below:-
Qualified Institutional Buyers (QIBs) : 0.85 times
Non Institutional Investors : 0.80 times
Retail Individual Investors : 0.93 times
Overall : 0.87 times
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
The Book Running Lead Managers (BRLM) to the offer are Axis Bank Limited and Avendus Capital Private Limited.
Registrar of the Issue : Karvy Computershare Private Limited, Hyderabad.
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