Innovision Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹494 - ₹519
- Lot size
- 27 shares
- Issue amount
- ₹306 cr
- Total subscription
- 3.46×
- Opens
- 10 Mar 2026
- Closes
- 17 Mar 2026
- Allotment
- 18 Mar 2026
- Listing
- 23 Mar 2026
Offer at a glance
Issue overview
- Issue size
- 58,91,284 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹13,338
- Fresh issue
- ₹242 cr
- Offer for sale
- ₹64 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,013
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,89,00,000
- Shares after issue
- 2,35,53,284
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 27 | ₹14,013 |
| sHNI | 15 | 405 | ₹2,10,195 |
| bHNI | 72 | 1,944 | ₹10,08,936 |
Share reservation
Subscription & GMP
Subscription by category
Reported 17 Mar 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,48,087 | 67,543 |
| HNIs(10L +) | 3,443 | 6,963 |
| HNIs (2-10L) | 1,721 | 8,950 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 3.19 | 45.66 |
| FIIs | 0 | 0.04 |
| Others | 0 | 45.62 |
| RETAIL | 207.51 | 125 |
| HNIs 2+ | 36.17 | 188.8 |
| HNIs 10+ | 72.37 | 744.48 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 10.82 | 15.62 | 6.29 | 5.01 |
| ROE | 19.55 | 35.45 | 19.62 | 22.06 |
| ROCE | 18.19 | 40.77 | 26.92 | 32.05 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 35.69 | 0 | 0 |
| POST IPO(PE) | 32.26 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Krystal Integrated Services Limited | 13.47 | 0 | 10.00 | 312.92 | 14.30 | 44.61 |
| Updater Services Limited | 8.62 | 0 | 10.00 | 144.07 | 12.33 | 17.70 |
| SIS Limited | 401.85 | 0 | 5.00 | 166.79 | 0.49 | 0.81 |
| Quess Corp limited | 63.37 | 0 | 10.00 | 72.92 | 4.23 | 3.07 |
| Highway Infrastructure Ltd | 15.15 | 0 | 5.00 | 20.37 | 19.03 | 3.40 |
| Innovision Limited | 35.69 | 0 | 10.00 | 43.32 | 35.45 | 15.62 |
Company information
Company profile
Incorporated in 2007, Innovision Limited is a workforce solutions and facility management company that provides services such as manpower deployment, toll plaza management, and skill development training across India. Its manpower services are mainly divided into three segments: manned private security services, integrated facility management (IFM) services, and manpower sourcing with payroll management. The company focuses on meeting the blue-collar workforce requirements of businesses ranging from small enterprises to large corporations by providing skilled manpower and operational support to improve efficiency and performance. Innovision also manages toll plaza operations and conducts professional training programs for security personnel through its training centre in Turkiawas, Rewari, Haryana, following the guidelines of the Private Security Agency Regulatory Act. The company holds several international certifications, including ISO 9001, ISO 27001, ISO 8000, ISO 14001, ISO 18788, and ISO 45001, reflecting its commitment to quality, security standards, environmental responsibility, and workplace safety, while its client base includes organizations such as Max Healthcare Limited, Stellar Value Chain, and Sequel Logistics.
Strengths
- Diverse Manpower Service Portfolio: The company offers a broad range of manpower solutions across multiple industries, allowing it to provide customized services that support client acquisition, strengthen retention, and address evolving workforce requirements.
- Scalable Systems & Processes: Well-structured recruitment, training, and operational frameworks, supported by data-driven performance monitoring, help maintain service quality while enabling efficient scaling of operations.
- Strong Recruitment Expertise: An experienced in-house team of over 100 professionals, supported by a large candidate database and strong labour law expertise, ensures reliable, efficient, and timely staffing solutions for clients.
Risk factors
- Debarment and Contract Compliance Risk: The Company has received debarment notices from certain clients and has challenged one such order in court. Any continued or future debarment could restrict participation in tenders and adversely affect revenue, operations, and reputation.
- NHAI Debarment Impact: A debarment order issued by NHAI in July 2025 has been stayed by the Delhi High Court. However, if the order is reinstated or related assumptions prove inaccurate, it may impact business operations and the planned utilization of IPO proceeds.
- Promoter Expense Governance Risk: Certain personal expenses of the Promoter were charged to the Company’s corporate credit card during FY2025 and later adjusted. Any recurrence of such instances may raise corporate governance concerns and affect financial management practices.
Promoters
Lt Col Randeep Hundal
Uday Pal Singh
Registrar & documents
Lead manager
Emkay Global Financial Services Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
1/209, First Floor, Sadar Bazar, Delhi Cantt, Delhi, New Delhi, 110010
+91 011 208 9790
[email protected]Company website ↗Understanding INNOVISION IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.