INNOVATE Corp.
INNOVATE Corp. (NYSE: VATE) is trading at $7.77, about ₹745 at today's USD/INR rate, as of 25 Sep 2026, 4:00 PM ET, up 3.32% today. Indian residents can buy INNOVATE from India on Paasa under the RBI's Liberalised Remittance Scheme.
Quote
Today's low
$7.55
Today's high
$7.88
52 week low
$3.75
52 week high
$21.30
VATE opened at $7.55, closed previously at $7.52, and has traded between $3.75 and $21.30 over the past 52 weeks.
About
INNOVATE Corp. (VATE), a New York-based entity founded in 1994 and previously known as HC2 Holdings, Inc. until its name change in September 2021, manages a diverse range of subsidiaries operating within the infrastructure, life sciences, and spectrum sectors across the United States. Its extensive infrastructure division delivers services such as industrial construction, structural steel work, and facility maintenance. These capabilities are applied to a wide array of projects, including commercial structures like office complexes, hotels, casinos, convention centers, sports arenas, shopping malls, and hospitals, as well as significant industrial and civic infrastructure like dams, bridges, mines, metal processing plants, refineries, pulp and paper mills, and power generation facilities. INNOVATE also manufactures specialized components such as trusses, girders, water pipes, storage tanks, tunnel liners, pressure vessels, strainers, filters, separators, and other custom products. The company additionally offers integrated solutions encompassing digital engineering, modeling, detailing, construction, heavy equipment installation, and facility services, alongside expert steel and rebar detailing and BIM modeling and management. Furthermore, it supplies equipment critical to the oil, gas, petrochemical, and pipeline industries. Within the life sciences realm, INNOVATE focuses on the development of products designed to address early osteoarthritis of the knee, as well as aesthetic and medical technologies for skin care. Finally, its spectrum operations include the management of various over-the-air broadcasting stations and the operation of Azteca America, a Spanish-language broadcast network.
Key statistics
Avg. volume
305.95K
Market cap
$106.00M
P/E Ratio
-4.22
Price-to-sales ratio
0.07
Enterprise value
$700.60M
Free cash flow yield
133.97%
Debt-to-equity ratio
-2.92
Return on equity
9.58%
ROIC
13.92%
Beta
2.35
Dividend yield
10.04%
Last dividend
$0.78
Financial overview
Revenue
$1.25B
Earnings per share
-$4.84
Free cash flow
$120.50M
Net profit margin
-1.48%
Gross margin
15.08%
EBITDA
$57.90M
Revenue growth
12.55%
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This is not an investment recommendation
How to buy INNOVATE from India
Indian residents can buy INNOVATE shares through Paasa in four steps. Funds leave India under the RBI's Liberalised Remittance Scheme and the shares are held in your own name with Interactive Brokers.
Open a Paasa account
Complete digital KYC with your PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Add funds under LRS
Transfer INR from your Indian bank account. Your bank reports the remittance under the RBI's Liberalised Remittance Scheme and converts it to US dollars.
Search for INNOVATE and place an order
Find INNOVATE by name or by its ticker, VATE, and choose an order type. You can buy by amount or by quantity — fractional shares mean there is no minimum trade size. INNOVATE trades 7:00 pm – 1:30 am IST; orders can only execute during that window.
Track holdings and download tax reports
Follow your INNOVATE position in USD and INR, and use Paasa's capital-gains and dividend statements when you file your Indian return.
Read the full guide: how to invest in INNOVATE from India
Trading and taxes when buying INNOVATE from India
Trading and limits
- Trading hours
- 9:30 am – 4:00 pm ET
- LRS limit
- $250,000Per financial year, under the RBI's Liberalised Remittance Scheme.
Tax for Indian residents
- TCS on remittance
- 20%Collected by your bank on LRS remittances above ₹10 lakh in a financial year. The TCS is adjustable against your income-tax liability.Adjusting TCS against your tax
- Capital gains in India
- 12.5% or slab rateGains on shares held for more than 24 months are long-term and taxed at 12.5%. Gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate.Capital gains explained
- Dividends
- Slab rateDividends are taxed at your slab rate in India. The US withholds tax on dividends paid to Indian residents at the treaty rate; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit in India. INNOVATE’s current yield is 10.04%.Dividend tax explained
- US estate tax
- May applyUS-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons.US estate tax calculator
Custody. Shares are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
FAQs
Can Indian residents buy INNOVATE stock?
Yes. INNOVATE (VATE) has been listed on the New York Stock Exchange since 2009, in the Engineering & Construction industry, and Indian residents can buy it through Paasa. You fund the account from your Indian bank under the RBI's Liberalised Remittance Scheme and the money is converted to US dollars. Shares are held in your own name at Interactive Brokers LLC and are SIPC-insured up to $500,000 in total, including $250,000 for cash.
How much does one INNOVATE share cost in rupees?
One INNOVATE share is $7.77 — about ₹745 at a USD/INR rate of 95.92 on 25 Sep 2026. Both the INNOVATE price and the rupee rate move during the day, so the rupee cost changes with them.
What are the LRS and TCS rules for buying INNOVATE from India?
Remit up to $250,000 per financial year under the RBI's Liberalised Remittance Scheme (LRS). Banks collect 20% tax at source on LRS remittances above ₹10 lakh in a financial year; the TCS is adjustable against your income-tax liability. FX and the LRS declaration are handled by your bank when you fund your account.
Can I buy whole shares of INNOVATE?
Yes. One INNOVATE share is $7.77, and you can buy as many whole shares as you like. You can also buy by amount rather than by quantity: there is no minimum trade size, and Paasa supports fractional investing in INNOVATE.
How are gains on INNOVATE shares taxed in India?
The US does not levy capital gains tax on shares for Indian residents, so the tax is an India-side one. Gains on shares held for more than 24 months are long-term and taxed at 12.5%. Gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate. The gain is computed in rupees using the USD/INR rate on the purchase and the sale date, so the rupee move counts alongside the INNOVATE price. Paasa issues a capital-gains statement for your return.
Does INNOVATE pay a dividend, and how is it taxed in India?
Yes. INNOVATE pays a dividend and the current yield is 10.04%; the last declared dividend was $0.78 per share, about ₹74.82. Dividends are taxed at your slab rate in India. The US withholds tax on dividends paid to Indian residents at the treaty rate; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
When can I trade INNOVATE from India?
The New York Stock Exchange trades 7:00 pm – 1:30 am IST in Indian time, so the close lands after midnight. The window shifts to 8:00 pm – 2:30 am IST when the US is on standard time. Orders can only execute during that window.
Is there estate or inheritance tax on INNOVATE shares held from India?
US-situs assets such as US-listed shares can be exposed to US estate tax for non-US persons. It applies to your overall holdings in that jurisdiction rather than to any one position. Paasa's US estate tax calculator shows the exposure for a given portfolio value.
Do I have to declare INNOVATE shares in my Indian tax return?
Yes. Foreign shares held on 31 March must be reported in Schedule FA of your Indian income-tax return. Paasa gives you a Schedule FA-ready statement listing your INNOVATE holding, its cost and its closing value.
How do I sell INNOVATE and bring the money back to India?
You sell during market hours (7:00 pm – 1:30 am IST) and the proceeds settle in USD in your Paasa account. From there you can hold the balance, reinvest, or repatriate. Funds can be withdrawn in any currency to any bank account in your own name. Whether the sale is short- or long-term is decided by the 24-month holding period.