Innovana Thinklabs Ltd

innovana thinklabs

About the Company:

Innovana Thinklabs Limited is engaged in software and application development business which directly provide services to retail user. The operation of company are controlled from their registered office situated at Jaipur, Rajasthan.

They basically design, develop and maintain software systems and solutions, create new applications and enhance the functionality of our customers’ existing software products.

Company’s product portfolio consists of application and software such as Ad-blocker, disk cleanup, space reviver, file opener and privacy protector etc.

They have developed number of products and these products have registered their presence and popularity in 13 different languages and over 126 countries.

Company was originally incorporated as “PCVARK Software Private Limited” but was changed to “PCVARK Software Limited” on June 27, 2017.

Company delivers services across all stages of the product life-cycle, which enables us to work with a wide-range of customers and allows us to develop, enhance and deploy our customers’ software products.

Company’s services range from software and application development such as ad-blocker, Mac Space Reviver, Mac File Opener, Disk Cleanup Pro, Duplicates Cleaner, File Helper, Memory Optimizer Pro, Compress Photos, Resize Photos and Duplicate Photos Cleaner etc, compatible for Computers, laptops and mobiles.

Company’s Products & Services are as follows:

Software and application for Windows:

Ad-Blocker – Ad-Blocker blocks all types of ads on web browser (including ads on websites such as Facebook and YouTube) by default. It blocks all ads such as pop-ups, pop-under, flashy banners and other types of ads which create problems while working on computers.

Software and application for Mac:

Mac Space Reviver – The application is Quick, Easy & most efficient way to clean all duplicate files on Mac. In this application we can Scan Mac and external drives
for duplicates to recover gigabytes of precious drive space.

Mac File Opener – Mac File Opener is a tool which allows to open any type of file on Mac machine. There are various file extensions on system that can’t be opened with any of the installed apps.

Disk Cleanup Pro – Disk Cleanup Pro is one of the best & the most comprehensive Mac Maintenance & Cleanup utilities which is available on the Mac App Store.

eSecure – eSecure helps to keep your privacy and protect Mac by removing navigation history, cookies, searches, downloads or other sensitive information and privacy
threads from all your browsers.

Privacy Protector – Privacy Protector is designed to give  the best of internet experience. It includes highest industry encryption standards to ensure that data removal is thorough, yet safe and secure which cleans your browsers and make the faster.

Software and application for IOS:

Compress Photos – Compress Photos is application having ultimate power to compress videos & photos so that user can recover the wasted storage space.

Resize Photos – Resize Photos application lets reduce the frame size of the photos to perfectly fit them into another frame without affecting the quality and helps to recover a significant amount of space.

Software and application for Android:

Free Cleaner for Android – The Free Cleaner for Android is very helpful and aids the user to be more productive as it is loaded with a great variety of features that are also easy to use.

FreeUpspace – Being an all-in-one space saving suite for Android devices, FreeUpSpace lets recover loads of storage space on internal as well as external storage.

Management Team:

  1. Mr. Chandan Garg (Designation: Chairman and Managing Director)
  2. Mr. Kapil Garg (Designation: Whole Time Director)
  3. Mrs. Swaran Kanta (Designation: Non-Executive Director)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
Chandan Garg 29,20,000 5.92
Kapil Garg 79,600 1.25


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake (%)
Chandan Garg 97.33 71.22
Kapil Garg 2.65 1.94
Promoter Group Entities             0.02          Negligible
Total 100% 73.17%


Objectives of the Issue:

  • To Meet Working Capital Requirement.
  • To meet Capital Expenditure.
  • General Corporate Purpose.
  • To Meet the Issue Expenses.


Financials of the Company:

(in Crores) FY 16 FY 17 30th June 17
Revenue  6.63  15.77  5.39
Net Profit  0.59  0.97  0.28


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW(%) NAV
Innovana Thinklabs Ltd 10 6.07 11.52 55.17 88.09
Cybertech Systems & Software Ltd 10 3.70 17.20 3.60 30.90
Infobeams Technologies Ltd 10 5.30 12.50 39.00 37.60


IPO Details:

Details Info
Issue Opens on 29th November 2017
Issue Closes on:. 4th November 2017
Issue Price Rs.70
Face Value Rs.10
Minimum Lot 2000
Minimum Investment Rs.1,40,000
Issue Constitutes 26.83%
Issue Size Rs.7.7 cr
Market Cap Rs.28.70 cr
Listing at NSE SME
Total Equity Shares Offered (Fresh) 11,00,000
Equity Shares Prior 30,00,000
Equity Shares after the issue 41,00,000


IPO Valuation parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
6.07 11.53 55.17% 88.08


Markets Guruji Opinion:

IPO View Apply For: Expected listing Gain:
Subscribe Long Term 20%


Company Contact Info:
Innovana Thinklabs Limited
(Formerly known as PCVARK Software Limited)
Plot No. 237A, Gopal Tower,
(Basement Floor), Ajmer Road,
Jaipur- 302006, Rajasthan, India
Tel. No. +91-141-2362324


Lead Manager to the Issue:
305, Madhuban Building, Cochin Street,
S.B.S. Road, Fort, Mumbai, Maharashtra – 400 001.
Tel No.:+91–22–2265 5565
Fax No.:+91–22–664 4300
Investor Grievance Email:


Registrar to the Issue:
D-153A, 1st Floor, Okhla Industrial Area Phase-I,
New Delhi – 110020
Tel No.:+91 11 64732681-88
Fax No.:+91 11 26812682
Investor Grievance Email: