- Issue price
- ₹519per share
- Issue size
- ₹319.25 Cr61,51,294 shares
- Face value
- ₹10per equity share
- Lot size
- 27 sharesMin. ₹14,013 at the upper price
- OpensTue, 2026
- ClosesTue, 2026
- AllotmentWed, 2026
- ListingMon, 2026
Dates marked in the offer document as tentative. Times in IST.
Information only, not investment advice. This page provides information compiled from official offer documents for information purposes only. It is not investment advice or a recommendation to apply for, buy or sell any security. We are not a SEBI-registered investment adviser or research analyst. Investments in IPOs are subject to market risks; read the offer document carefully before investing.
Issue details
- Issue type
- Book built, fresh issue and offer for sale
- Fresh issue
- 49,13,294 shares (₹255 Cr)
- Offer for sale
- 12,38,000 shares (₹64.25 Cr)
- Total issue
- 61,51,294 shares (₹319.25 Cr)
- Face value
- ₹10
- Listing at
- NSE, BSE
- Promoter holding
- 99.98% → 74.16%
Source: ProspectusUpdated
Reservation
Share of the total issue- Retail65.0%
- NII34.0%
- QIB1.0%
| Category | Shares | Of net offer | Stated in RHP |
|---|---|---|---|
| Retail individual investors | 39,98,342 | 65.00% | 65% |
| Non-institutional investors (NII) | 20,91,440 | 34.00% | 34% |
| Qualified institutional buyers (QIB) | 61,512 | 1.00% | 1% |
Source: ProspectusUpdated
Lot size
Amounts at ₹519 per share| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail individual investors | 1 | 27 | ₹14,013 |
Source: ProspectusUpdated
Subscription
Category-wise subscription is published by the exchanges while the issue is open. It appears here once the figures are added.
Valuation
FY 2024-25- EPS (basic)
- ₹15.62
- EPS (diluted)
- ₹15.62
- P/E (FY 2024-25 at cap price)
- 33.23×
- P/E (FY 2024-25 at floor price)
- 31.63×
- RoNW
- 35.45%
- NAV per share (At cap price)
- ₹131.08
- Debt to equity (Six months ended Sep 30, 2025)
- 1.10
- ROCE
- 40.77%
Source: ProspectusUpdated
Financials
Consolidated, restated · ₹ crore| Period ended | 30 Sep 20256 months | 31 Mar 2025FY 2024-25 | 31 Mar 2024FY 2023-24 | 31 Mar 2023FY 2022-23 |
|---|---|---|---|---|
| Revenue from operations | 480.00 | 893.13 | 510.33 | 255.57 |
| Total income | 483.10 | 895.95 | 512.13 | 257.62 |
| EBITDA | 30.42 | 51.75 | 19.66 | 16.36 |
| Profit after tax | 20.00 | 29.02 | 10.27 | 8.88 |
| Net worth | 102.33 | 81.88 | 52.35 | 40.26 |
| Reserves and surplus | 83.43 | 62.98 | 33.45 | 38.91 |
| Total assets | 271.66 | 220.30 | 157.05 | 108.17 |
| Total borrowing | 112.39 | 79.05 | 48.15 | 33.34 |
FY 2024-25 vs FY 2023-24: revenue +75.0%, profit after tax +182.5%. Periods shorter than 12 months are shown as reported and are not annualised.
Source: ProspectusUpdated
About the company
The company provides manpower services including manned security, facility management and manpower sourcing, along with toll plaza management and skill development training across India. It was incorporated in 2007 and operates in 23 states and 5 union territories.
- Incorporated
- 2007
- Industry
- Manpower Services
- CIN
- U74910DL2007PLC157700
- Website
- innovision.co.in
Source: ProspectusUpdated
Promoters and shareholders
| Name | Before issue | After issue | Shares offered |
|---|---|---|---|
| Lt Col Randeep Hundal | 49.99% | 37.08% | 6,19,000 |
| Uday Pal Singh | 49.99% | 37.08% | 6,19,000 |
Source: ProspectusUpdated
Objects of the issue
₹ crore| Purpose | Amount |
|---|---|
| Repayment or prepayment of certain borrowings | 51.00 |
| Funding working capital requirements | 119.00 |
| General corporate purposes | 39.80 |
Source: ProspectusUpdated
Peer comparison
As listed in the offer document| Company | EPS | P/E | RoNW | NAV per share |
|---|---|---|---|---|
| Innovision LimitedIssuer | ₹15.62 | 33.23× | 35.45% | ₹43.32 |
| Krystal Integrated Services Limited | ₹44.61 | 12.35× | 14.30% | ₹312.92 |
| Updater Services Limited | ₹17.7 | 7.90× | 12.33% | ₹144.07 |
| SIS Limited | ₹0.81 | 4342.28× | 0.49% | ₹166.79 |
| Quess Corp Limited | ₹3.07 | 57.07× | 4.23% | ₹72.92 |
| Highway Infrastructure Limited | ₹3.4 | 14.45× | 19.03% | ₹20.37 |
Source: ProspectusUpdated
Strengths and risks
Our summary of what the offer document statesStrengths
- Operates across many states with a diversified manpower services portfolio.
- Holds toll plaza management and skill development business lines alongside manpower services.
- Has a large workforce of over 14,000 personnel as of January 2026.
- Revenue has grown substantially over the reported periods.
Risks
- Debarment notices from NHAI and a client have been issued, and litigation on these is pending.
- Working capital dependence is high, with significant short-term borrowings.
- Net Debt to EBITDA and debt-to-equity ratios are elevated.
- Workforce-related service claims and employee disruptions could affect operations.
- Offer proceeds depend on the outcome of NHAI-related litigation and assumptions.
Source: ProspectusUpdated
Documents
Contacts
Source: ProspectusUpdated
Allotment status
Check whether shares were allotted on the official pages below, using your PAN, application number or DP/client ID. Results appear once the basis of allotment is finalised.
- Allotment
- Refunds
- Demat credit
- Listing
Source: ProspectusUpdated
After listing
Listing price, day-one high and low, and the change from the issue price (₹519) appear here after the shares list on NSE and BSE.
Work out the gain or loss on allotted shares after charges and tax →
Frequently asked questions
When does the Innovision IPO open and close?
According to the Prospectus, the issue opens on Tuesday, 10 March 2026 and closes on Tuesday, 17 March 2026.
What is the Innovision IPO price band?
The final issue price is ₹519 per share.
What is the lot size of the Innovision IPO?
One lot is 27 shares, which is ₹14,013 at ₹519 per share.
Where will Innovision shares list?
On NSE and BSE. The tentative listing date is Monday, 23 March 2026.
Who is the registrar of the issue?
KFin Technologies Limited (SEBI registration INR000000221). Allotment status is checked on the registrar's website.
How do I check the Innovision IPO allotment status?
The basis of allotment is expected to be finalised on Wednesday, 18 March 2026. After that, search by PAN, application number or DP/client ID on the registrar's website (KFin Technologies Limited), the NSE website or the BSE website. Shares that are allotted are credited to your demat account; for an application that is not allotted, the blocked amount is released.
How will the money raised be used?
₹51 Cr for repayment or prepayment of certain borrowings, ₹119 Cr for funding working capital requirements, ₹39.8 Cr for general corporate purposes.
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Spotted something wrong?
Our data comes from official offer documents, but mistakes can slip through. Report an error and tell us which figure looks wrong and where you saw the correct one (the offer-document page number helps). For anything else, see Contact.