Innoventive Industires IPO to hit markets on April 26, 2011

The Initial Public Offering (IPO) of Innoventive Industires Limited will open for subscription by investors on Tuesday - April 26, 2011. The company is coming out with Public Issue of Equity Shares of Rs. 10/- each aggregating to Rs. 21,958 Lacs for cash at a price band of Rs.117 to Rs.120 through 100% book building process.

The Minimum Order Quantity is 50 Equity Shares and in multiples of 50 Equity Shares. The Maximum Subscription Amount for Retail Investor is Rs.200000.

The Rating Agency ICRA has assigned IPO Grading of IPO GRADE 3.

Axis Bank Limited and Avendus Capital Private Limited are the Book Running Lead Managers to the issue. Avendus Securities Private Limited, Reliance Securities Limited, ENAM Securities Private Limited and SBICAP Securities Limited are the syndicate members to the IPO.

Karvy Computershare Private Limited is the registrar to the company. The IPO closes for subscription on April 29, 2011. For QIB bidders Issue closes on April 28, 2011.

Source : Equity Bulls

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