Innoventive Industries Limited closes at Rs.93.60 on Listing Day

Innoventive Industries Limited, which listed its equity shares offered under IPO on Friday, May 13, 2011, had a disheartening listing day with the share opening at Rs.110/- on the BSE as against the Issue Price of Rs.117/- per share.

Innoventive Industries Limited touched an Intra-day High of Rs.114.85 and and Intra-day Low of Rs.86.30 on the BSE before closing the listing day at Rs.93.60, at a 20% discount to the Issue Price

Innoventive Industries Ltd. is engaged in the business of manufacturing and sale of precision steel tubes, tubular components, auto components, machined components and other steel products 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