Innokaiz India IPO is entirely a fresh issue offer of 27,13,600 equity shares with a face value of Rs. 10 each. Innokaiz India IPO aims to raise ₹21.17 crore from this issue. The company has fixed price band at ₹76 to ₹78 per equity share. Innokaiz India is a corporate services and solutions provider Company. The company will be listed on BSE SME platform.
IPO opens
Apr 28, 2023
IPO Closes
May 03, 2023
IPO Size (Rs.)
₹21.17 Cr
IPO Size (shares) (100% fresh issue)
2,713,600 shares
Net Issue (minus anchor)
1940800 shares
Face Value:
₹10
IPO Price in Rs :
₹76 to ₹78
Minimum Lot
1600
Listing At
NSE SME
Anchor Quota
28.48%
QIB Quota
18.99%
NII Quota
19.28%
Retail Quota
33.25%
Lead Manager
GRETEX CORPORATE
Registrar
BIGSHARE SERVICES
Company was incorporated in the name of Innokaiz India Private Limited in 2013.
Innokaiz India Limited is a corporate services and solutions provider Company.
It has emerged as are a one stop solution provider for various corporate needs.
It offers a comprehensive range of services covering Advertising and Marketing Solutions including Digital Marketing, Corporate Travel Arrangements, Gifting Solutions, Event Management etc.
outdoor advertisement services include the services at outdoor Bus Shelters, Arch, Police Booth, General Booth, Pole Kiosk, Signal Post, Temp Hoarding, Sun Pack flute Board, Backdrop, Banners, Road show, Mobile Van, Etc.
In signage it provides Backlit Board, Nonlit Board, ACP Pylon, Acrylic Boards, Cutout, Standee etc.
Digital Marketing: SEO, UI/UX, Content Marketing, and Web Development.
Recently, it has ventured into new business vertical i.e., E-Commerce Business. Its team of experienced and dedicated professionals provide services and solutions that are at the forefront of industry best practice.
The company is promoted by Mr. Sukumar Balakrishnan.
Anchor Investors:
Innokaiz India IPO: Financials
Particulars / Rs. Lacs
Oct-22
2022
2021
2020
Revenue from operations
14,863.59
28,592.69
18,495.01
13,869.74
Profit/(Loss) before Tax
821.5
1,066.25
689.98
489.02
Profit after Tax
610.28
791.63
509.15
361.55
Share Capital
751
190
100
100
Reserves and Surplus
1,702.00
1,841.72
1,050.09
540.35
Net Asset Value (in Rs.)
32.66
Total borrowings
– Long Term
48.48
74.25
59.2
76.07
– Short Term
45.14
57.92
44.32
34.53
Post issue Share Capital
1022.36
FV
10
IPO price
78
EPS FY22
7.74
PE Fy22
10.07
EPS Fy233 (ann)
10.23
PE Fy23 (ann)
7.62
Market cap in Lacs
7974
Market Cap/sales (ann)
0.28
Salient Points
The company has conducted 15,250 Roadshows/ Lead Generation and Sales Promotion activities.
Innokaiz India financial performance has been consistent and from Fy20 to Fy22 the revenues have grown at a CAGR of 44% and net profit at 48%.
The company aims to utilize IPO proceeds for the following purposes.
To meet incremental working capital requirements (Rs. 14.00 cr.)
To fulfil issue-related expenses Rs. 2.90 cr.
General corporate purposes -(remaining amount)
Upon completion of the Issue, Promoter will own 71.99 % of the Post-Issue Equity Share capital of the Company.
The company has availed Term Loans from Banks & NBFC’s (unsecured) like Bajaj Finserv Ltd., ICICI Bank, IDFC Bank, RBL Bank.
Peers:
Compnay
CMP
FV
Revenue Fy22 Rs Lacs
NPM%
PE
RONW
NAV
Innokaiz India
78
10
28,592
4.11%
8
42.96
24.54
DAPS Advertising
28
10
1,868
5.88
13
7.65
24.03
Brandbucket Media
17.8
10
1,727
1.33
35
44.04
32.15
Social media reports indicate a low GMP of about Rs. 8-10 on the issue price.
PE ratio is 10x (fy22 earnings) and 7.6x (fy23 annualized). Looks reasonable.
P/BV is 1.86 based on its post IPO NAV of Rs. 41.87 per share.
I intend to apply in Innokaiz India IPO even as its overall quality like many other SME issues is difficult to asses due to limited information.
SME IPO are more volatile and carry a large risk.
There are two lead managers for this IPO, Share India Securities Limited and Khambatta Securities Limited.
Share India Securities Limited trrecently managed Maiden Forgings Limited and Exhicon Events Media Solutions Limited.
Gretex Share Broking Private Limited will act as the Market Maker
The lead Manager Gretex corporate has a mixed record. In past it has managed issues like Retina Paints Limited, ResGen Limited, Reetech International, Steelman Steelcom etc.
Please do your own diligence as SME IPOs are more volatile and risky than mainboard IPOs and need more funds.
Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management . Also Certified in some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Please do your own due diligence as stock market/MF investments have high degree of inherent risk.
