Innovision IPO

Innovision IPO

Listed

MainboardOpens 10 March 2026Closes 17 March 2026

Innovision Limited, established in 2007, is a diversified service provider specializing in manpower services, toll plaza management, and skill development training. The company operates in 23 states and 5 union…

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Live GMPSubscriptionAllotment
Price band
₹521 - ₹548
Issue size
₹322.84 Cr
Lot size
27 shares
Type
Mainboard
GMP
₹0 (0.0%)
Est. listing
₹548
Est. profit / app
—
Retail quota
65.00%

Key ratios

As per RHP / filings
Face value
₹10
EPS
16.99
P/E ratio
32.26
RoNW
19.55%
ROE
19.55%
Debt / Equity
1.1
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Timeline

  1. IPO Opens

    10 Mar 2026

  2. IPO Closes

    17 Mar 2026

  3. Allotment

    18 Mar 2026

  4. Listing

    20 Mar 2026

IPO Timeline & Listing Details

EventDate
IPO Open Date10 March 2026
IPO Close Date17 March 2026
Allotment Date18 March 2026
Listing Date20 March 2026

Investment Categories

CategoryLotsAmount
Retail (Min)
1₹14,796
Retail (Max)Just less than ₹2,00,000
13₹1,92,348
SHNI (Min)Just above ₹2,00,000
14₹2,07,144
SHNI (Max)Below ₹10,00,000
67₹9,91,332
BHNIAbove ₹10,00,000
68₹10,06,128

IPO Reservation Details

CategoryReservation
QIB (Qualified Institutional Buyer)1.00%
NII (Non-Institutional Investor)34.00%
SHNI (Small Non-Institutional Investor)11.33%
BHNI (Big Non-Institutional Investor)22.67%
Retail65.00%
Total100.00%

IPO Objectives

  • Funding working capital requirements of the Company (₹119.00 Cr).
  • Repayment or pre-payment, in part or full, of certain borrowings availed by the Company (₹51.00 Cr).
  • General Corporate Purposes.

Strengths

  • The company maintains a Pan-India Reach with an extensive geographic presence across 23 states, supported by 35 offices and a robust warehousing facility.
  • It operates a Diversified Business Model that combines stable manpower services with high-volume toll plaza management and specialized skill development.
  • It has demonstrated Strong Financial Performance, highlighted by a 130% rise in PAT from FY24 to FY25 and a massive 193% revenue growth between FY22 and FY23.
  • The business exhibits High Efficiency Metrics, achieving a robust RoCE of 40.77% and an exceptional RoNW of 35.45% in FY25.
  • The infrastructure is highly Scalable, with established training centers and in-house manufacturing capabilities (wood, metal, plastic) providing a strong base for inorganic growth.

Weaknesses

  • The company operates with Thin Net Margins, with a PAT margin of approximately 3.25% in FY25, reflecting the high operational costs inherent in the service and manpower sector.
  • It carries Debt Leverage with a debt-to-equity ratio of 0.97 (FY25), which is moderate but requires consistent interest servicing and cash flow management.
  • The business is in a Highly Competitive Industry, characterized by low entry barriers and intense pressure from both large national players and local unorganized firms.
  • It faces significant Regulatory Risks, being heavily exposed to evolving labor laws, minimum wage regulations, and the Private Security Agency Acts.
  • Despite strong historical financials, the Low Subscription Demand of 0.17x seen in the early bidding stages suggests a cautious or weak investor sentiment for this specific issue.
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Financial Performance

Period Ended30 Sep 2025 (H1)31 Mar 202531 Mar 202431 Mar 2023
Assets (₹ Cr.)271.66220.3157.05108.17
Revenue (₹ Cr.)483.1895.95512.13257.62
PAT (₹ Cr.)2029.0210.278.88
Net Worth (₹ Cr.)102.3381.8852.3540.26

Peer Comparison

CompanyP/B RatioP/E RatioRONW (%)Net Worth (₹ Cr.)
Innovision Ltd.12.6532.2619.55%102.33
SIS Limited1.64-21.9213.09%2,408
Quess Corp Ltd.2.5846.1819.03%1,086

Subscription Details

Daily Bids Status

CategoryDay 1Day 2Day 3Day 4Day 5Day 6
QIB1x1x1.03x0.99x13.09x14.3x
NII0x0.2x0.38x0.36x2.73x8.6x
S-HNI0x0.03x0.32x0.31x0.59x5.22x
B-HNI0x0.28x0.41x0.39x3.8x10.29x
RII0.02x0.07x0.29x0.27x0.29x0.6x
Total0.02x0.12x0.33x0.31x1.25x3.46x

Overall Subscription Statistics

CategoryShares OfferedShares BidBid Amount (₹ Cr)
QIB61,5138,79,84945.66
NII20,91,4401,79,82,270933.28
Small NII6,96,94236,37,818188.8
Big NII13,94,4981,43,44,452744.48
RII39,98,34124,08,400125
Total61,51,2942,12,70,5191,103.94
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Company Details

Registrar Details

Frequently Asked Questions

What is the business focus of Innovision?
Innovision Limited provides integrated manpower services (security, facility management, staffing), toll plaza management, and skill development training for private and government sectors across India.
When does the Innovision IPO close for subscription?
The Innovision mainboard IPO closes today, March 12, 2026.
What is the price band and minimum retail investment?
The price band is set at ₹521 to ₹548 per share. A retail investor needs a minimum of 27 shares, which costs ₹14,796.
What is the current Grey Market Premium (GMP) for Innovision?
As of March 12, 2026, the GMP is approximately ₹71, suggesting a potential listing price of ₹619 (~13% premium).
How has the IPO been subscribed so far?
The IPO has received a tepid response, subscribed 0.17 times overall as of Day 3 morning, with the retail portion at 0.12x.
Where will the Innovision shares list?
The shares are proposed to list on both the BSE and NSE with a tentative listing date of March 17, 2026.

Innovision IPO News & Updates

Follow the latest updates for Innovision IPO, including grey market moves and allotment news.

Innovision IPO IPO Pages

Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.

Innovision IPO Details

Issue size, price, financials, and company info

Innovision IPO GMP

Live grey market premium and listing estimate

Innovision IPO Subscription

QIB, NII, Retail, SHNI and BHNI subscription

Innovision IPO Allotment

Allotment date, chances, and check by PAN

Innovision IPO Review

SWOT, strengths, risks, and IPO review

Innovision IPO FAQ

Common questions on dates, GMP, and allotment

Innovision IPO Registrar

Registrar website and how to check allotment

Innovision IPO Timeline

Open, close, allotment, and listing dates

Innovision IPO News

Updates, blogs, and latest IPO news

Sources

We match Innovision IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • Kfin Technologies Ltd.Official site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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