Innovatiview India IPO

About Innovatiview India Ltd IPO

The IPO comprises only an offer for sale aggregating up to ₹2000 crores of equity shares of face value of ₹5 each. It has no fresh issue and is a 100% book-built offer.

Objectives of Innovatiview India Ltd IPO

Innovatiview India Ltd will not receive any proceeds from the offer and the offer proceeds will be received by the promoter selling shareholders, in proportion to the offered shares sold by the respective promoter selling shareholders as part of the offer after deducting their portion of the offer related expenses and the relevant taxes thereon.

Industry Outlook

The security and surveillance solutions industry is characterised by high entry barriers, in the form of asset requirements, geographical reach, operational intensity, trained manpower network, client relationships and pre-qualification criteria for participation in tenders.

While the total addressable market (TAM) for examination security and surveillance in India is expected to grow at a CAGR of 2.7% from FY 24 to 29, the TAM for events security and surveillance is projected to grow at a CAGR of 3.9% during the same period.

Company Information

Innovatiview India Ltd is a technology-driven company providing automated ancillary security and surveillance solutions for examinations, elections and large-scale events pan-India. As of September 30, 2024, the company is the largest player for examination integrated security solutions in India, with a market share of 73.7% in terms of revenue in Fiscal 2024. The company’s comprehensive security system includes closed circuit television (CCTV) surveillance, biometric control, physical security systems like frisking, voice over internet protocol (VoIP) communication systems, global positioning system (GPS) tracking as well as dedicated examination infrastructure.

Risks of Innovatiview India Ltd

• Dependence on Top 10 Clients: The company derived 80.70%, 73.58%, 77.91% and 69.20% of its revenue from operations in six months ended September 30, 2024 and Fiscals 2024, 2023 and 2022 respectively, from its top 10 clients. Loss of any of its key clients, or reduction in revenue earned from such key clients, may have an adverse effect on its business, financial condition, cash flows and results of operations.

• Dependence on Government Contracts: The company depends on contracts entered into with government institutions that account for a significant portion of its revenues. It cannot assure that such contracts will continue to be awarded to it in future. Failure to be awarded such contracts may adversely affect its business, results of operations, cash flows and financial condition.

• Reliance on vendor network: They rely on their vendor network to offer their services across India, and any failure to maintain their vendor network, or failure by such vendors to render their services, may adversely affect their business, results of operations, cash flows and financial condition.

• Reliance on examination and event management related services: Their revenue from operations are primarily earned theough examination and event management related services. They derived 89.44%, 81.37%, 74.27% and 50.89% of their revenue from operations from such solutions in six months ended September 30, 2024 and Fiscals 2024, 2023 and 2022, respectively. Any adverse events affecting the market for examination integrated security solutions may adversely affect their business, results of operations, cash flows and financial condition.

Anchor Investor Bidding Date TBA

IPO Registrar and Book Running Lead Managers

• Registrar: MUFG Intime India Pvt Ltd, formerly known as Link Intime India Private Ltd
• Book Running Lead Managers: DAM Capital Advisors Ltd, ICICI Securities Ltd, JM Financial Ltd, Motilal Oswal Investment Advisors Ltd and Shannon Advisors Pvt Ltd

Business Model

Innovatiview India’s Ltd offers comprehensive examination integrated security solutions in the form of closed-circuit television (CCTV) surveillance, biometric control, physical security systems like frisking, voice over internet protocol (VoIP), communication systems, global positioning system (GPS) tracking as well as dedicated examination infrastructure.

The offerings also include providing security and surveillance solutions for elections and large-scale events. In addition, the company also provides information technology (IT) equipment rental services.

Company Growth Trajectory

Innovatiview India Ltd has established a track of consistent revenue growth and profitability. Its revenue from operations increased from ₹238.208 crore in Fiscal 2022 to ₹638.052 crores in Fiscal 2024, at a CAGR of 64.61%. Its profit after tax for the year increased from ₹56.175 crores in Fiscal 2022 to ₹ 196.719 crores in Fiscal 2024 at a CAGR of 87.13%.

Innovatiview India’s total income has increased from ₹2387.57 crores in FY 22 to ₹6469. 47 crores in FY 24. Along the same lines, profit after tax also increased from ₹561.75 crores in FY 22 to ₹1,967.19 crores in FY 24.

Market Position:

Innovatiview India is one of the first companies in India to introduce and integrate artificial intelligence (AI) technology in CCTV surveillance and accurate touchless biometric verification solutions for impersonation control in examinations. (Source: F&S Report) In the six months ended September 30, 2024, they served over 72 clients through their diversified security and surveillance solutions and have secured over 1,409 examinations across India.

How to Check Allotment Status of Innovatiview India Ltd IPO?

1. Visit the Registrar’s Website

Visit the official website of MUFG Intime India Private Ltd and choose ‘Public Issues’ from ‘Investor Services’ dropdown. Choose the company name from the ‘Select Company’ dropdown. Enter either your PAN, application number, DP client ID, etc and click on ‘Submit’ to check status.

2. Check on Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Select 'Equity' from the dropdown menu
• Choose 'Innovatiview India Ltd' in the next dropdown
• Enter your application number
• Enter your PAN
• Click 'Search’ to know allotment status

3. Verify on the National Stock Exchange Website

The National Stock Exchange (NSE) has an IPO Bid Verification module. You can use it to check the status of Innovatiview India Ltd IPO. Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'. On the NSE IPO Bid Verification page, enter:

• Application number
• PAN

Then click 'Submit' to know the allotment status.

How to Apply for Innovatiview India Ltd IPO?

• Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.