Innoviti Allocates INR 25 Cr in ESOPs, Gearing Up for IPO Launch in 12 Months!

Innoviti Postpones IPO, Aims for Stock Exchange Listing within 12 Months

Innoviti, a leading provider of digital payment solutions, has decided to postpone its initial public offering (IPO) with plans to list on stock exchanges within the next 12 months. Rajeev Agrawal, the company’s founder and CEO, revealed that Innoviti is focused on achieving operating profitability within the next two quarters. The startup had initially announced its intention to launch on the market within the following 12 months back in August of last year.

Company’s Operations and Financial Outlook

Innoviti is currently experiencing an annualized EBITDA loss of less than INR 8 Cr while operating at an annualized run rate (ARR) of INR 160 Cr. The company reported a remarkable 192% annualized growth rate for its sales negotiating software, "Innoviti Genie," targeted at electronics shops. Additionally, their enterprise payments software, "Innoviti Unipay," showed a 28% EBITDA and a 15% annualized growth compared to the previous year. Founded in 2002 by Agrawal, Innoviti enables retailers to accept payments and integrate real-time sales data into crucial business operations. The company processes transactions from over 20,000 merchants across more than 2,000 cities in India, totaling over INR 80,000 Cr annually.

Funding Rounds and ESOP Grants

In March 2024, Innoviti secured a Reserve Bank of India (RBI) internet payment aggregator (PA) license for its PA, "Innoviti Link." The company recently closed its Series E funding round with a total investment of INR 70 Cr. With over $100 million in capital raised to date, Innoviti has garnered support from renowned investors such as Bessemer Venture Partners, FMO, and Catamaran Ventures. In a move to reward and retain talent, Innoviti granted an additional INR 25 Cr worth of ESOPs to 110 employees, bringing the total ESOP pool to INR 106 Cr.

Conclusion

Innoviti’s decision to postpone its IPO and focus on achieving operating profitability reflects its commitment to sustainable growth and financial stability. With a strong financial outlook and a track record of innovation in the digital payment space, Innoviti is poised for success in the competitive market landscape.

Frequently Asked Questions

1. How has Innoviti adjusted its IPO plans?
   • Innoviti has postponed its IPO and is now aiming to list on stock exchanges within the next 12 months.
2. What are some key financial metrics for Innoviti?
   • Innoviti is currently making less than INR 8 Cr in annualized EBITDA loss and operating at an ARR of INR 160 Cr.
3. What recent funding rounds has Innoviti closed?
   • Innoviti recently closed its Series E funding round with a total investment of INR 70 Cr.
4. How many merchants does Innoviti process transactions for annually?
   • Innoviti processes transactions from over 20,000 merchants across more than 2,000 cities in India annually.
5. Who are some of the prominent investors backing Innoviti?
   • Innoviti has received support from investors like Bessemer Venture Partners, FMO, and Catamaran Ventures.
6. What is the total value of ESOPs granted to Innoviti employees?
   • Innoviti granted an additional INR 25 Cr worth of ESOPs to 110 employees, bringing the total ESOP pool to INR 106 Cr.
7. What is the growth rate for Innoviti’s sales negotiating software, "Innoviti Genie"?
   • Innoviti reported a remarkable 192% annualized growth rate for "Innoviti Genie" targeted at electronics shops.
8. When was Innoviti founded?
   • Innoviti was founded in 2002 by Rajeev Agrawal.
9. What licensing milestone did Innoviti achieve in March 2024?
   • Innoviti secured a Reserve Bank of India (RBI) internet payment aggregator (PA) license for its PA, "Innoviti Link."
10. What is the annual operating revenue and loss reported by Innoviti for the fiscal year 2022–2023?
    • Innoviti reported operating revenue of INR 110.2 Cr and a loss of INR 86.56 Cr for the fiscal year 2022–2023.

      Tags: Innoviti, digital payment solutions, IPO, stock exchanges, financial outlook, ESOPs, funding rounds, digital payments, financial stability, sustainable growth.

      Disclaimer: This article is based on publicly available information and does not constitute financial advice. Readers are advised to conduct their own research before making any investment decisions.

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