Innovative Tyres and Tubes IPO

Innovative Tyres and Tubes IPO

Business description from prospectus – Incorporated in the year 1995, Innovative Tyres and Tubes is a tyre and tube manufacturing Company, manufacturing & marketing products under the flagship brand ―Innovative. It started its journey with the acquisition of a greenfield project situated at Halol in auction from Gujarat State Financial Corporation and State Bank of Bikaner & Jaipur vide agreement dated December 15, 1995. Thereafter it revamped the closed company to a tube manufacturing facility at this property and started manufacturing of tubes in the year 1996. Within a short time after inception, it was able to successfully get our facility approved by CEAT Limited for carrying out job work activities for them.

As a result of strong business relationship with CEAT Limited, taking the relationship to the next level it set up a greenfield tyre project as a major outsourcing unit in 2003 in a close vicinity of the existing first tube plant in Halol only. While the tube manufacturing facility is spread over 11,200 sq. mtrs, the tyre manufacturing facility occupies an area of approximately 27,833 sq. mtrs. The company has an installed production capacity of 12,000 MT of tubes and tyres. Taking a leaf of learning of tyre manufacturing with two-three-wheeler tyre segment, it graduated over a period of 15 years into manufacturing of practically all segments of Nylon Tyres. Today, its product range covers all highway sizes, Off The Road (OTR) highway sizes, agriculture and industrial tyres.

Promoters of Innovative Tyres and Tubes – Mukesh Desai & Pradeep Kothari

Innovative Tyres and Tubes IPO details

Subscription Dates 22 – 26 September 2017
IPO Price band INR42 – 45 per share
Fresh issue 6,297,000 shares (INR26.45 – 28.34 crore)
Offer for sale Nil
Total IPO size 6,297,000 shares (INR26.45 – 28.34 crore)
Minimum bid (lot size) 3,000 shares
Face Value  INR10 per share
Retail Allocation 50%
Listing On NSE Emerge SME platform

Innovative Tyres and Tubes’ financial performance (in INR crore)

FY2013 FY2014 FY2015 FY2016 FY2017
Total revenue 103.0 126.6 130.5 125.9 132.5
Total expenses 100.8 123.2 125.8 121.7 126.4
Profit after tax 0.8 2.3 4.1 1.9 4.1

Innovative Tyres and Tubes Limited
1201, 1202, 1203
GIDC Halol
Panchmahals – 389350

Phone: +91 267 6220 621
Email: [email protected]


Subscription (no. of times)

Day 1 0.78
Day 2 1.85
Day 3 7.60


Earnings Per Share (EPS): INR3.63

Price/Earnings (P/E) ratio: 11.57 – 12.39

Return on Net Worth (RONW): 8.89%

Net Asset Value (NAV): INR39.22 per share

Link Intime India Private Limited
C-101, 247 Park, L.B.S. Marg,
Vikhroli (West), Mumbai – 400 083
Maharashtra, India

Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email[email protected]

Innovative Tyres and Tubes IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.

IPO Opening Date: 22 September 2017

IPO Closing Date: 26 September 2017

Finalisation of Basis of Allotment: 29 September 2017

Initiation of refunds: 3 October 2017

Transfer of shares to demat accounts: 4 October 2017

Listing Date: 5 October 2017

Listing Price on NSE SME: INR54 per share (up 20% from IPO price)

Closing Price on NSE SME: INR47.15 per share (up 4.8% from IPO price)



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