Innovision Limited IPO: Subscription Period and Pricing

Innovision IPO Opens Today: Price Band Set at ₹521–₹548 Per Share, Issue Aims to Raise ₹322.84 Crore​

The initial public offering (IPO) of Innovision Limited, a company engaged in manpower services and toll plaza management, opens for subscription today, Tuesday, March 10. The three day public issue will remain open for bidding until March 12.

Innovision IPO Price Band and Lot Size​

The Gurgaon based company has fixed the price band for the IPO at ₹521 to ₹548 per equity share.

Investors can place bids starting with a minimum lot size of 27 shares and in multiples thereafter.

In the grey market, Innovision’s unlisted shares were trading at ₹548 today. However, grey market premiums only reflect pricing trends in the unofficial market and can change rapidly.

Issue Size and Market Capitalisation​

At the upper price band of ₹548 per share, Innovision aims to raise ₹322.84 crore through the public issue.

The IPO consists of:

• A fresh issue worth ₹255 crore
• An offer for sale of 12.38 lakh equity shares

Following the listing, the company’s market capitalisation is estimated to be around ₹1,290.72 crore.

Investor Allocation Structure​

The IPO allocation has been structured across investor categories as follows:

• 65 percent reserved for retail investors
• 34 percent for non institutional investors
• 1 percent for institutional investors

Company Background and Business Expansion​

Innovision was founded in 2007 as a provider of manned private security services. Over the years, the company has expanded its operations into a broader range of manpower services.

The company entered the skill development segment in FY14 and later expanded into toll plaza management in FY19.

As of January 15, 2026, Innovision operates across 23 states and 5 union territories.

Use of IPO Proceeds​

Proceeds from the fresh issue will be used for several corporate purposes.

• ₹51 crore will be used to repay certain borrowings
• ₹119 crore will be allocated toward working capital requirements
• The remaining amount will be used for general corporate purposes

As of January 15, 2026, the company had total outstanding working capital borrowings of ₹134.5 crore. The fresh issue proceeds are expected to reduce this borrowing burden.

Financial Performance​

In FY25, Innovision generated 41 percent of its revenue from manpower services and 56 percent from toll plaza management.

The company reported a profit of ₹29 crore in FY25, marking a 182.5 percent increase from ₹10.3 crore in the previous year.

Revenue during the same period rose 75 percent to ₹893.1 crore from ₹510.3 crore.

For the six months ended September 2025, Innovision reported a profit of ₹20 crore on revenue of ₹480 crore.

Key IPO Details​

Emkay Global Financial Services is acting as the book running lead manager for the issue, while Kfin Technologies is the registrar.

The IPO allotment is expected to be finalised on March 13, 2026. The shares are tentatively scheduled to list on the BSE and NSE on March 17.