A well-sold story during IPO generated lots of interest in Innoventive among institutionalinvestors. One fine day, the profitable company\'s liabilities surged and its net loss widened. What went wrong?
Moneylife Digital Team
Innoventive Industries Ltd (Innoventive) a Pune-based iron and steel product maufacturer, is struggling to survive. Its share price is languishing at about one-fifth of its listing price, its liabilities have skyrocketed, so has its loss. Before entering the capital markets, Innoventive had total revenues of Rs425.2 crore. Today, its annual loss is more than that. The company\'s misfortune has left several investors, including institutional investors, who were lured by the \'growth story\' of Innoventive, in jeopardy.
.jpg "MoneyLife")
