Innoventive may not be inventive offer!

OFFER AT A GLANCE
Name	Innoventive Industries Ltd
Offer Quantity	1.83 cr to 1.88 cr Shares of Rs 10 each
% on Total Equity	30.8% to 31.4%
Offer Amount	Rs 219.58 cr
Offer Price	Rs 117 to Rs 120
Bid Quantity	50 & Multiples of 50
Bid/Offer Opens	April 26, 2011
Bid/Offer Closes	April 28, 2011-QIB portion
April 29, 2011-Retail & Others
Rated By	ICRA
Rating	3/5
Lead Managers	Axis Bank, Avendus Capital
Registrars	Karvy Computershare

                  Issue objective The company proposes to spend Rs 163 crore on expansion of capacity and repay high-cost term loans worth Rs 50 crore. The balance (Rs 6.58 crore) is meant for general corporate purpose. Parentage The company, originally known as Arihant Domestic Appliances Pvt. Ltd, was incorporated in 1991 by a different set of promoters for the manufacture and assembly of mixers, grinders and emergency lights. The present promoter-chairman, Chandu Chavan, joined the board in March 2002. The company