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Innoventive Industries Limited to list its shares on Friday, May 13, 2011

The Equity Shares of Innoventive Industries Limited would be listed and admitted to the dealings on the exchanges with effect from Friday, May 13, 2011. Innoventive Industries Limited is a Pune based multiproduct engineering company

Earlier, Innoventive Industries IPO had fixed the Issue Price of the IPO at Rs.117/- per equity share, which is at the lower end of the Price Band of Rs.117/- to Rs.120/- per equity share. 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

The IPO of Innoventive Industries IPO was assigned an IPO Grade 3/5 by ICRA. This indicates that the company has 'Average Fundamentals'. Innoventive Industries IPO was subscribed 1.24 times on an overall basis with Retail Category getting subscription to the tune of 1.94 times. However, the QIB Investors had not shown too much interest in the IPO with the category getting bid only 0.85 times

Check back Indian IPO Blog for the listing day updates on Innoventive Industries Limited IPO!

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