IN
Innovision Limited IPO
Manpower Services · Toll Plaza Management · Skill Development
📋 Mainboard IPO
BSE & NSE
₹548
Issue Price
₹322.84 Cr
Issue Size
Mar 17, 2026
Listing Date
₹1,290.72 Cr
Market Cap (Pre-IPO)
📅 IPO Timetable
All dates tentative
🔓
IPO Opens
Tuesday, 10 March 2026
Bidding starts — apply before close
🔒
IPO Closes
Thursday, 12 March 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Friday, 13 March 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Monday, 16 March 2026
Unallotted funds returned; shares credited to demat
🏷️
Listing on BSE & NSE
Tuesday, 17 March 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date10 March 2026 (Tue)
IPO Close Date12 March 2026 (Thu)
Listing Date17 March 2026 (Tue)
Face Value₹10 per share
Price Band₹521 to ₹548
Issue Price (Upper Band)₹548 per share
Issue TypeBook Build — Fresh + OFS
Total Issue Size58,91,284 shares (₹322.84 Cr)
Fresh Issue46,53,284 shares (₹255.00 Cr)
Offer for Sale (OFS)12,38,000 shares (₹67.84 Cr)
Pre-Issue Shares1,89,00,000
Post-Issue Shares2,35,53,284
Lot Size27 shares
Promoter Holding (Pre)100%
Promoter Holding (Post)74.99%
Market Cap (Pre-IPO)₹1,290.72 Cr
Listing ExchangeBSE & NSE
Lead ManagerEmkay Global Financial Services
RegistrarKFin Technologies Ltd.
💰 Lot Size & Minimum Investment
At issue price ₹548
| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Retail — Minimum | 1 | 27 | ₹14,796 |
| Retail — Maximum | 13 | 351 | ₹1,92,348 |
| S-HNI (sNII) — Min | 14 | 378 | ₹2,07,144 |
| S-HNI (sNII) — Max | 67 | 1,809 | ₹9,91,332 |
| B-HNI (bNII) — Min | 68 | 1,836 | ₹10,06,128 |
👥 Investor Reservation
SEBI mandated allocation
≥ 65%
Retail (RII)
Min 1 lot · 27 shares
Max 13 lots
≥ 34%
NII / HNI
sNII: 14–67 lots
bNII: 68+ lots
≤ 1%
QIB
Mutual funds
FIIs, banks
💡 What this means: At least 65% of shares are reserved for retail investors. If oversubscribed, allotment is by lottery — each applicant gets at most 1 lot (27 shares at ₹14,796).
📈 Company Financials
Restated Consolidated · ₹ Crore
| Metric | Sep 2025 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Total Assets | 271.66 | 220.30 | 157.05 | 108.17 |
| Total Income | 483.10 | 895.95 | 512.13 | 257.62 |
| PAT | 20.00 | 29.02 | 10.27 | 8.88 |
| EBITDA | 30.42 | 51.75 | 19.66 | 16.36 |
| Net Worth | 102.33 | 81.88 | 52.35 | 40.26 |
| Reserves & Surplus | 83.43 | 62.98 | 33.45 | 38.91 |
| Total Borrowings | 112.39 | 79.05 | 48.15 | 33.34 |
Revenue Growth
FY 2022–23₹257.62 Cr
FY 2023–24₹512.13 Cr
FY 2024–25₹895.95 Cr
🎯 Key Performance Indicators
35.45%
ROE
FY 2024–25
40.77%
ROCE
FY 2024–25
3.25%
PAT Margin
FY 2024–25
5.79%
EBITDA Margin
FY 2024–25
19.55%
RoNW
Sep 30, 2025
0.97x
Debt/Equity
FY 2024–25
⚖️ Valuation & EPS
Pre-IPO EPS
₹15.36
FY25 earnings + pre-issue shares
P/E: 35.69x
Post-IPO EPS
₹16.99
Annualised H1 FY26 + post-issue shares
P/E: 32.26x
Price to Book Value
12.65x
At issue price ₹548
Market Cap (Pre-IPO)
₹1,290.72 Cr
At issue price ₹548
ℹ️
Pre-IPO EPS uses pre-issue shares (1,89,00,000) and FY25 earnings. Post-IPO EPS uses post-issue shares (2,35,53,284) and annualised H1 FY26 earnings. Indicative figures from the RHP.
🎯 Objects of the Issue
Net proceeds utilisation
1
Repayment or pre-payment (in part or full) of certain borrowings availed by the Company
₹51.00 Cr
2
Funding working capital requirements of the Company
₹119.00 Cr
3
General corporate purposes (balance of net proceeds from fresh issue)
Balance
Total (items 1 & 2)
₹170.00 Cr
🏢 About Innovision Limited
Est. 2007 · Pan-India
Incorporated in 2007, Innovision Limited is a diversified manpower and facility services company operating across 23 states and 5 union territories of India. The company maintains 35 offices nationwide and serves over 180 clients across 1,000+ premises.
Its three core segments are Manned Private Security Services, Integrated Facility Management (IFM), and Manpower Sourcing & Payroll. It also manages toll plazas and runs skill development training at its centre in Turkiawas, Rewari, Haryana.
Key clients: Max Healthcare Limited, Stellar Value Chain, and Sequel Logistics across retail, healthcare, warehousing, logistics, and BFSI sectors.
Competitive Strengths
🗺️Wide geographical reach — 23 states & 5 UTs with 35 offices
🧩Diverse portfolio — security, IFM, manpower sourcing & payroll
⚙️Established systems and processes enabling a highly scalable business model
👥Experienced management team with deep domain knowledge in manpower services
📜Strong recruitment capability and thorough knowledge of labour regulations
Company Promoters
RH
Lt. Col. Randeep Hundal
Promoter, Innovision Limited
UP
Uday Pal Singh
Promoter, Innovision Limited
⚠️
Disclaimer: This page presents publicly available information from the Innovision IPO RHP for informational purposes only. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
📅 Key Dates
IPO Opens10 Mar 2026
IPO Closes12 Mar 2026
Allotment13 Mar 2026
Refund & Credit16 Mar 2026
Listing Day17 Mar 2026
💡 Quick Summary
Price Band₹521 – ₹548
Issue Price₹548 / share
Lot Size27 shares
Min. Investment₹14,796
Issue Size₹322.84 Cr
Fresh Issue₹255.00 Cr
OFS₹67.84 Cr
ListingBSE & NSE
🏦 Registrar & Lead Manager
Lead Manager
Emkay Global Financial Services Ltd.
📍 Company Address
Innovision Limited
1/209, First Floor, Sadar Bazar,
Delhi Cantt, New Delhi – 110010
📞 +91-011-208-9790
cs@innovision.co.in
www.innovision.co.in →
1/209, First Floor, Sadar Bazar,
Delhi Cantt, New Delhi – 110010
📞 +91-011-208-9790
cs@innovision.co.in
www.innovision.co.in →
🛡️ Regulatory Note: IPO investments are subject to SEBI regulations. Always read the RHP before applying. Consult a SEBI-registered advisor before investing.
📊
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