IPO Details
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Schedule of Innovatiview India Ltd
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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.
Innovatiview India Ltd IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | NA |
Offer for Sale | Up to ₹2000 crore |
EPS in ₹ for FY 24 | 3.98 |
Innovatiview India Ltd Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the offer |
Non-institutional Investors | Not less than 15% of the offer |
Retail Individual Investors | Not less than 35% of the offer |
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.
Innovatiview India Ltd Strengths
Largest Player in Terms of Revenue in Fiscal 2024, Growing at 69.07% year-on-year in Fiscal for Examination Integrated Security Solutions
Innovatiview India Ltd is the largest player in examination integrated security solutions in India, with a market share of 73.7% in terms of revenue in Fiscal 2024. In the examination security and surveillance industry, its market share has grown at 69.07% year-on-year in Fiscal 2024.
Extensive Portfolio of Integrated Security Offerings
The company has evolved from being a pure play examination security solutions provider to a technology-enabled provider of security and surveillance solutions as a service, catering to security and surveillance requirements during elections and other large public events, in addition to security, surveillance and intelligence systems.
Technology Intensive, Client Centric Processes
Innovatiview India Ltd is fundamentally a technology-driven company, and leverages technology to offer our solutions. Its solutions integrate hardware and software that cater to security and surveillance requirements of clients. It leverages AI and ML to improve the precision and efficacy of its offerings. Its use of AI, ML and cloud-powered solutions, reduces the requirement for human intervention resulting in cost savings for clients.
Risks of Innovatiview India Ltd
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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.
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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.
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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.
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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.
All Financial Information about Innovatiview India Ltd
Particulars (in Rs. crores)
Particulars (in Rs. crores)
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.
Innovatiview India Ltd Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Income (in ₹ crores) | 646.947 | 382.647 | 238.757 |
Profit Before Tax (in ₹ crores) | 263.723 | 152.478 | 72.019 |
Profit After Tax (in ₹ crores) | 196.719 | 114.557 | 56.175 |
EPS in ₹ | 3.98 | 2.24 | 0.84 |
Innovatiview India Ltd Balance Sheet
Parameters FY 24 FY 23 FY 22 Profit Before Tax (in ₹ crores) 263.72 152.47 72.01 Net Cash Flows (used in)/From Operating Activities (in ₹ crores) 285.28 46.79 30.02 Net Cash Used in Investing Activities (in ₹ crores) (209.79) (88.69) (14.83) Net Cash Generated From/(used in) Financing Activities (in ₹ crores) (43.09) 20.40 10.50 Net decrease/increase in Cash and Cash equivalents 32.40 (21.49) 25.69 Cash and Cash Equivalents at the end of the Year (in ₹ crores) 48.75 16.35 37.84
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.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Innovatiview India Ltd IPO FAQs
What is the Innovatiview India Ltd IPO?
The Innovatiview India Ltd IPO consists only of an offer for sale aggregating up to ₹2000 crores. The equity shares offered in the offer for sale has a face value of ₹5 each and it’s an 100% book-built offer.
When will the IPO of Innovatiview India Ltd go live?
The exact dates of the IPO are yet to be announced.
From where can I read more about Innovatiview India Ltd and its IPO?
You can read more about Innovatiview India Ltd and its IPO from the company’s draft red herring prospectus here.
