Innovators Facade Systems Limited IPO Review

Innovators Facade Systems Limited IPO Review

Innovators Facade Systems Limited (IFSL) is Maharastra based company. This company is first of all engaged in designing, engineering, fabrication, and installation. Innovators Facade Systems Limited is also offering total solutions to its customers with respect to their requirement of facade installation in complex projects. It specializes in technically demanding facades. Starting 14th May, IFSL will also be in their process of getting listed in the stock exchange through their initial public offering. So this post will cover the Innovators Facade Systems Limited IPO Review based on the issue date, issue price and other issue details as received from the draft red herring prospectus.

About Innovators Facade Systems Limited IPO :

  • IPO Opens on – May 14, 2018.
  • IPO Closes on – May 16, 2018.
  • Face Value – Rs. 10 Per Equity Share.
  • Issue Price – Rs. 71 – Rs. 72 Per Equity Share.
  • Issue Type – Book Built Issue IPO.
  • Market Lot – 1600 Shares.
  • Minimum Order Quantity – 1600 Shares.
  • Issue Size – 5,660,800 Equity Shares of Rs 10 aggregating up to Rs 40.75 Cr.
  • Listing Exchange – BSE SME Exchange.
  • Draft Prospectus – Click Here.

Objectives of the issue:

  • Upgradation and modernization of existing manufacturing facility.
  • Funding the working capital requirements of this company.
  • General corporate purposes.

About The Company –

  • Innovators Facade Systems Limited is incorporated in 1999.
  • With an operating history of more than eighteen years, the company has developed a brand image in the facade industry.
  • The manufacturing facility of Innovators Facade Systems Limited is situated at Wada, Maharashtra and is spread over 1,25,000 square feet.
  • The product of this company’s basket ranges from glazing or curtain walls, high-end doors and windows, skylights, canopies, frame-less glazing, MS structures, stone cladding, metal cladding, roofing, and others.
  • The registered office of this company is situated at Mumbai and it has 7 branch offices across India.
  • Innovators Facade Systems Limited has a widespread presence.
  • It is executing projects in various states such as Maharashtra, Goa, Haryana, Karnataka, Tamil Nadu, Uttar Pradesh and West Bengal.
  • This company has executed almost 200 projects and has long-standing reputed clients across the construction industry.
  • Innovators Facade Systems Limited has offered its services for varied type of construction projects likes residential buildings, commercial complexes, IT Parks, airports, retail and pharma projects.
  • This company also has a recognized list of clients including M/s. Hiranandani Realtors Pvt. Ltd., M/s. Relcon Infraprojects Limited, M/s. Larsen & Toubro Limited, M/s. Grauer & Weil (I) Limited etc.
  • The current manpower strength of Innovators Facade Systems Limited is 198 employees.
  • This company has another 76 personnel including Executive directors, accountants, administrative executives, supervisors, Estimation and designer, 6 business development, marketing and sales personnel and 6 employees in the purchase department.

Innovators Facade Systems Limited

Innovators Facade Systems Limited

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Promoters of the company :

  • Radheshyam Sharma, aged 52 years, is the Promoter, Chairman and Managing Director of this company.
  • Jolly Multitrade Private Limited, is the Promoter of this company.

Company Financials:

Innovators Facade Systems Limited IPO


Innovators Facade Systems Limited IPO Review:

From the DRHP it is seen that the company’s profits had got a blow on the financial year 2016. But IFSL again managed to turn around on the FY 2017. They have even skyrocketed their profits in the first 3 quarters on FY 2018. The earnings per share have also made a long jump from 2.16 to 5.60. The company’s share has also become favourite for investors like Vijay Kedia who along with Pantomath Group have invested in 1532258 shares through private dealing. The price that Mr Vijay Kedia paid per share is Rs. 62. Hence, the issue price of Rs. 71 to Rs. 72 per equity share is looking attractive and less.

The only concern for investors is the dream run in last 9 months, i.e, first 3 quarters of FY 2018. In case IFSL can sustain the growth, it can be a good bet for long-term. Therefore, our Innovators Facade Systems Limited IPO Review has a NEUTRAL view at this time. But we feel that ISFL can be tried by risk takers and long-term investors.

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