Innovision IPO Opens March 10: Price Band Set at ₹521 to ₹548 Per Share
Innovision, a Gurgaon based provider of manpower services and toll plaza management, has announced the price band for its upcoming initial public offering. The IPO will open for subscription on March 10 and close on March 12.Innovision IPO Price Band and Issue Size
The company has fixed the price range at ₹521 to ₹548 per equity share. Investors can bid for a minimum of one lot comprising 27 shares and in multiples thereafter.At the upper end of the price band, Innovision aims to raise ₹322.84 crore. The issue consists of a fresh issue of ₹255 crore and an offer for sale of 12.38 lakh equity shares.
At the highest price of ₹548 per share, the company’s post listing market capitalization is estimated at ₹1,290.72 crore.
Investor Allocation and Reservation
Of the total issue size, 65 percent is reserved for retail investors, 34 percent for non institutional investors, and 1 percent for institutional investors.Business Overview and Expansion Journey
Founded in 2007 as a provider of manned private security services, Innovision has gradually expanded its operations into a broader range of manpower services. The company entered the skill development segment in FY14 and later diversified into toll plaza management in FY19.As of January 15, 2026, Innovision operates across 23 states and 5 union territories, strengthening its nationwide presence.
In FY25, manpower services contributed 41 percent to the company’s revenue, while toll plaza management accounted for 56 percent.
Financial Performance in FY25 and H1 FY26
Innovision reported a strong financial performance in FY25. The company posted a profit of ₹29 crore, marking a 182.5 percent increase from ₹10.3 crore in the previous fiscal. Revenue rose 75 percent to ₹893.1 crore from ₹510.3 crore.For the six months ended September 2025, the company recorded a profit of ₹20 crore on revenue of ₹480 crore.
Use of IPO Proceeds
From the fresh issue proceeds of ₹255 crore, ₹51 crore will be used to repay certain borrowings. Another ₹119 crore will be allocated towards working capital requirements, while the remaining amount will be used for general corporate purposes.As of January 15, 2026, the company’s total outstanding working capital borrowings stood at ₹134.5 crore. The fresh issue is expected to significantly reduce this burden.
IPO Timeline and Key Intermediaries
Emkay Global Financial Services is the book running lead manager to the issue, while Kfin Technologies is acting as the registrar.The IPO allotment is expected to be finalized on March 13, 2026. The shares are tentatively scheduled to list on the BSE and the National Stock Exchange of India on March 17.
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