a player in the manpower and human resources sector since 2007, offers services like security guards and specialized personnel, along with training. They cater to industries including healthcare, warehousing, logistics, and BFSI. Co-owned by Lt. Col. Randeep Hundal and Udaypal Singh, the company has subsidiaries like Walk India Foundation and Aerodrone Innovation International Private Limited. Hundal's other directorships hint at a focus on robotics. Their upcoming IPO from March 10th-12th, 2026, values the company at ₹1300 crore, aiming to raise ₹323 crore. Funds will be used for loan repayment (₹51 crore) and working capital (₹119 crore). However, the company's financials raise concerns. While net profit is expected to rise post-loan repayment, increasing trade receivables suggest clients are delaying payments, potentially straining cash flow. A negative net cash flow from operations is also noted. Compared to industry peers like SIS, which trades at a PE of 14 and PB of 1.7, Innovation's IPO valuation seems steep with an estimated PE of 27 and PB of 4. This suggests the company might be overvalued. Given these financial red flags and the high valuation, I'd advise caution for both short-term and long-term investors, as the potential for listing gains appears uncertain.

#IPO#Miscellaneous#MacroViews#PersonalFinance#EquityResearch

661 likes·70 comments