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Innovision IPO : GMP, Price, Analysis, And Details
Table of Contents
Innovision IPO - Company Analysis
Innovision IPO under the Mainboard IPO category is a bookbuild issue of Rs. 322.84 Cr by Innovision Limited and offers clients throughout India skill development training, toll plaza management, and labor services. The company operates 35 offices around India, including corporate and registered offices. Innovision Limited is active in 23 Indian states and five union territories as of January 15, 2026.
The three operating divisions of Manpower Services are Manpower Sourcing and Payroll, Integrated Facility Management (IFM) Services, and Manned Private Security Services. As of January 15, 2026, the business provided services to over 1,000 client locations and served over 180 clients in a variety of industries.
Innovision IPO Details
The Innovision IPO date of opening is 10 Mar 2026, its initial public offering will end on 12 Mar, IPO allotment on Mar 13 and refund initiation on Mar 16, 2026.
The Rs. 322.84 crore new Mainboard IPO comprises a combination of a fresh issue of 0.47 crore shares (Rs. 255 Cr) and an offer for sale of 0.12 crore shares (Rs. 67.84 Cr).
The Innovision IPO listing date (expected) might be on Tuesday, March 17, 2026, and listing at the BSE and NSE.
The Innovision IPO price band is Rs. 521 to Rs. 548.
IPO Timetable (Tentative)
|
Events |
Date |
|
IPO Opening Date |
Mar 10, 2026 |
|
IPO Closing Date |
Mar 12, 2026 |
|
IPO Allotment Date |
Mar 13, 2026 |
|
Refund Initiation |
Mar 16, 2026 |
|
IPO Listing Date |
Mar 17, 2026 |
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Company Financials
(Amount in Cr)
|
Particulars |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Assets |
220.30 |
157.05 |
108.17 |
|
Total Income |
895.95 |
512.13 |
257.62 |
|
Profit After Tax |
29.02 |
10.27 |
8.88 |
|
EBITDA |
51.75 |
19.66 |
16.36 |
|
NET Worth |
81.88 |
52.35 |
40.26 |
|
Reserves and Surplus |
62.98 |
33.45 |
38.91 |
|
Total Borrowing |
79.05 |
48.15 |
33.34 |
Cash Flows
(Amount in lac)
|
Net Cash Flow |
31 Mar 2025 |
31 Mar 2024 |
31 Mar 2023 |
|
Net Cash Flow Operating Activities |
(218.84) |
63.97 |
34.37 |
|
Net Cash Flow Investing Activities |
17.01 |
(342.75) |
8.71 |
|
Net Cash Flow Financing Activities |
229.87 |
89.89 |
(38.32) |
Revenue Bifurcation
(Rs. in Lac)
(Source: RHP)
The Objective of the Issue
The company desires to use the Net Proceeds from the Issue to fulfill its following goals:
- Repayment or pre-payment, in part or full of all or certain borrowings availed by the Company. ~ Rs. 51 Cr.
- Funding working capital requirements of the Company. ~ Rs. 119 Cr.
Listed Peers of Innovision Ltd.
|
Name of Company |
Face Value (Rs. ) |
Basic EPS (Rs. ) |
PE Ratio (x) |
|
Krystal Integrated Services Limited |
10 |
44.61 |
13.47 |
|
Updater Services Limited |
10 |
17.70 |
8.62 |
|
SIS Limited |
5 |
0.81 |
401.85 |
|
Quess Corp Limited |
10 |
3.07 |
63.37 |
|
Highway Infrastructure Ltd |
5 |
3.40 |
15.15 |
Valuation
|
KPI |
Value |
|
ROE |
35.45% |
|
ROCE |
40.77% |
|
Debt/Equity |
0.97 |
|
RoNW |
35.45% |
|
PAT Margin |
3.25% |
|
EBITDA Margin |
5.79% |
|
Price to Book Value |
12.65 |
Evaluation of P/E Ratio
Considering the period ended on FY 2025 with an EPS of Rs. 15.62 from the last year, the resulting P/E ratio is 35.08x.
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IPO's Strengths
- Extensive geographic reach and places throughout India.
- A wide range of labor services.
- Proven procedures and techniques that result in a scalable company model.
- Seasoned operating staff and management.
- Recruiting skills, subject-matter expertise, and familiarity with labor laws.
IPO's Weaknesses
- The company has challenged one debarment decision in court after receiving debarment notices from specific clients. Any ongoing or upcoming prohibition may limit tender participation and negatively affect earnings and reputation.
- In July 2025, NHAI issued a debarment order, which the Delhi High Court has since delayed. Business operations and the intended use of IPO cash may be impacted if the injunction persists or if presumptions about its effects turn out to be false.
- Risk of Promoter Expense Governance.
Innovision IPO GMP (Grey Market Premium)
Innovision IPO GMP today is Rs. 0 as of 06 Mar 2026 while writing this information. A price band set at Rs. 548 suggests that the estimated listing price of the IPO could be around Rs. 548, indicating a gain/loss of 0%.
Innovision IPO Summary
|
IPO Opening & Closing Date |
10 Mar, 2026 to 12 Mar, 2026 |
|
Face Value |
Rs. 10 per Share |
|
Issue Price |
Rs. 521 to Rs. 548 per Share. |
|
Lot Size |
27 Shares |
|
Issue Size |
58,91,284 Shares (Rs. 323 Cr) |
|
Offer for Sale |
12,38,000 Shares (Rs. 68 Cr) |
|
Fresh Issue |
46,53,284 Shares (Rs. 255 Cr) |
|
Listing at |
BSE, NSE |
|
Issue Type |
Bookbuild issue IPO |
|
Registrar |
Kfin Technologies Ltd. |
IPO Lot Details
|
Minimum Lot Investment (Retail) |
1 Lot |
|
Maximum Lot Investment (Retail) |
13 Lots |
|
HNI (Min) |
14 Lots |
Innovision IPO Allotment Status
To check the Innovision IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.
Using BSE Website - BSE IPO allotment status
Promoters And Management of Innovision Ltd.
- Lt Col Randeep Hundal
- Uday Pal Singh
|
Pre-Issue Promoter Shareholding |
100% |
|
Post-Issue Promoter Shareholding |
74.99% |
IPO Lead Managers
- Emkay Global Financial Services Ltd.
Dividend Policy
The company has not paid a dividend during the last three years.
Conclusion
Although the company exhibits strong revenue growth and improving profitability, investors should carefully consider risks like regulatory issues and moderate margins before applying. Overall, the Innovision IPO may suit long-term investors who are comfortable with the valuation and sector outlook. The Innovision Limited IPO gives investors exposure to India's expanding manpower services and facility management sector with a strong nationwide presence.
Finowings IPO Analysis
Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO.
You must consult your financial advisor before making any financial decisions.
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To Read the Prospectus of the Company Click Here to Download the DRHP.
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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.
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