With respect to the analysis of the IPO from Innoventive Industries, published in Business Line's Sunday edition (April 24), the company clarifies that its debt-equity ratio after the offer would stand at 0.96 times, and not 1.3 times as published.
This is after factoring in funds raised from pre-IPO placement with Standard Chartered Private Equity and the repayment of debt out of the issue proceeds. This significantly reduces the financial risk based on which we made our original recommendation to readers to refrain from subscribing to the offer.