Innokaiz India IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Innokaiz India IPO will open on April 28 and close on May 3, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 21.17 crores through this public offering, consisting of 27.13 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 76 to ₹ 78 per share.
About Innokaiz India Limited (“the Company”)
Incorporated in 2013. Innokaiz India Ltd. is a corporate services and solutions provider. The company has emerged as a one-stop solution provider for various corporate needs. The company offers a wide range of services covering advertising and marketing solutions, including digital marketing, corporate travel arrangements, gifting solutions, event management, and more. Recently, the company has also forayed into a new business vertical, i.e., e-commerce.Its team of experienced and dedicated professionals provides services and solutions that are at the forefront of industry best practises. They thrive on providing the highest level of service on every assignment and providing best-in-class and cost-effective services and solutions to their clients.
A company service model is divided into the following categories;
- Advertising and Marketing Services
- Outdoor Advertising
- Event Management
- Corporate Gifting
- E-Commerce
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Working capital requirements, and
- general corporate purposes.
Financial Highlights (Restated Consolidated)
| Particulars | The period ended on 31st Oct. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 2,453 | 1,843 | 1,051 | 542 |
| Total Assets | 4,763 | 4,972 | 3,871 | 2,568 |
| Total Borrowings | 94 | 132 | 104 | 111 |
| Total Revenue | 14,884 | 28,609 | 18,506 | 13,872 |
| Profit After Tax | 610 | 792 | 509 | 362 |
IPO details
As per the DRHP filed with SEBI, 27.13 lakhs shares will be offered as part of the fresh issue on the BSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 136,000 shares of the offering. While Gretex Corporate Services Pvt Ltd will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.
| Issue Type | Book built issue IPO |
| IPO Price | ₹ 76 to ₹ 78 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1,600 shares |
| Issue Size | 2,713,600 shares (aggregating up to ₹ 21.17 crores) |
| Fresh Issue | 2,713,600 shares (aggregating up to ₹ [.] crores) |
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| Market Maker | Gretex Share Broking Pvt. Ltd. |
| Market maker portion | 136,000 shares |
| Anchor Investor shares offered | 772,800 shares |
| Listing At | BSE SME |
| Company Promoters | Mr. Balakrishnan Sukumarbalakrishnan |
Anchor Investors
A total of 772,800 shares are offered to Anchor investors. The Anchor Investor’s lock-in period for 50% of equity shares is June 19, 2023, and September 11, 2023, for the remaining portion.
| Anchor Investor Bid Date | April 27, 2023 |
| No. of shares offered to Anchor investors | 772,800 shares |
| Anchor Portion Size | ₹ 6.03 crore (Shares offered * Upper Price) |
| Anchor lock-in period end date (50% Shares) | Around June 19, 2023 (30 Days) |
| Anchor lock-in period end date (remaining shares) | Around September 13, 2023 (90 Days) |
GMP: Innokaiz India IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Innokaiz India IPO
The issue opens for subscription on April 28, 2023, and closes for subscription on May 3, 2023 (both days inclusive). The basis of allotment will be finalised on May 8th, 2023, and the refunds will be initiated on May 9, 2023. In addition, the demat credits are expected to happen on May 10th, 2023, and the stock will list on May 11, 2023, on the NSE SME segment. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | April 28, 2023 |
| Closing Date | May 3, 2023 |
| Basis of Allotment | May 8, 2023 |
| Initiation of Refunds | May 9, 2023 |
| A credit of shares to Demat A/c | May 10, 2023 |
| Listing Date | May 11, 2023 |
Lot Size
The lot size of the Innokaiz India IPO is 1,600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,600 shares of ₹ 124,800.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,600 | ₹ 124,800 |
| Retail (Maximum) | 1 | 1,600 | ₹ 124,800 |
| HNI (Minimum) | 2 | 3,200 | ₹ 249,600 |
Promoters Holdings
| Pre-issue Shares Holdings | 98.00% |
| Post-issue Shares Holdings | 71.99% |
SWOT Analysis
| STRENGTHS | WEAKNESSES |
|---|---|
| 1. Company have the experienced team. 2. Assured Payments from Clients. 3. Steady Growth. 4. Strong financial credentials. | 1. Leadership limitations such as lack of self-awareness. 2. Unregulated and unplanned growth. |
| OPPORTUNITIES | THREATS |
| 1. Broaden our geographical reach. 2. Attract new customers through special offers. 3. Grow customer loyalty / retention. | 1. Rising Competition. 2. Legal and Regulatory restrictions. Low entry barriers. |
Review [May apply]
Innokaiz India Ltd. engages in the services of corporate services and solution providers. The company has brought an IPO of ₹ 21.17 crore, which can be priced between ₹ 76 to ₹ 78 per share. If we analyse the company’s financial performance, it shows good growth in revenue during the past few years. Its revenue during FY20, FY21, and FY22 has been ₹ 138 crores, ₹ 185 crores, and ₹ 286 crores, respectively, and till October 31, 2022, the company has reported revenue of ₹ 148.84 crores, which is a good sign. On the other hand, if we look at the company’s earnings, then there is good growth in that too. The company’s profit in FY20 was ₹ 3.62 crores, whereas if we look at the profit in FY22, it is ₹ 7.92 crores, which shows more than double growth in the difference of one year. And the company earned a profit of ₹ 6.10 crores up to October 31, 2022. For the last three financial years, the company has reported an average EPS of ₹ 8.33 and an average RONW (Return On Net Worth) of 48.75%. The issue is priced at a Price-to-Book (PB) Ratio of 2.39 based on a NAV (Net Assets Value) of ₹ 32.66 by October 31, 2022, and at a Price-to-Book (PB) Ratio of 1.86 based on a post-IPO NAV of ₹ 41.87 per share (at the upper cap). From this, we can say that the company has consistently maintained its growth, which is expected to continue in the future. Over the years, the company has emerged as a one-stop solution provider for various corporate needs. The company has also expanded into new segments. The company operates in a highly competitive environment but has consistently maintained its growth. Based on the earnings of the company, it has good potential for growth in the future. The company IPO will a good option for making money in the long term.
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Innokaiz India Limited Door No. 43, Old No. 22, Real Enclave, Flat No. 1, 4th Floor, Josier Street, Nungambakkam, Chennai- 600034 Phone: 044-28250545 Email: [email protected] Website: https://innokaiz.com/ |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: [email protected] Website: https://www.bigshareonline.com/ |
| IPO Lead Manager(s) | Gretex Corporate Services Pvt Ltd |
FAQ’s
What is Innokaiz India IPO price?
The Innokaiz India IPO price is ₹ 76 to ₹ 78 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Innokaiz India IPO contains 1,600 shares of ₹ 124,800.
When will Innokaiz India IPO allotment be available?
The finalization of the basis of allotment for the Innokaiz India IPO will be done on May 8, 2023, and the allotted shares will be credited to your demat account by May 10, 2023. Check the Innokaiz India IPO allotment status.
When will Innokaiz India IPO list on exchanges?
The Innokaiz India IPO shares listing date is May 11, 2023.
How many Innokaiz India IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 50% of the offer, NII (HNI) is 15% of the offer, and retail is 35% of the offer.
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