Liqvd Digital India Limited
Bookbuilding IPO · BSE
- Price band
- ₹51 - ₹54
- Lot size
- 2,000 shares
- Issue amount
- ₹41 cr
- Total subscription
- 5.3×
- Opens
- 23 Sept 2026
- Closes
- 25 Sept 2026
- Allotment
- 28 Sept 2026
- Listing
- 30 Sept 2026
Offer at a glance
Issue overview
- Issue size
- 75,94,000 shares
- Face value
- ₹5 per share
- Minimum investment
- ₹1,02,000
- Fresh issue
- ₹36.13 cr
- Offer for sale
- ₹4.87 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,08,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 1,59,41,177
- Shares after issue
- 2,22,63,177
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 4,000 | ₹2,16,000 |
| sHNI | 3 | 6,000 | ₹3,24,000 |
| bHNI | 10 | 20,000 | ₹10,80,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 25 Sept 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 992 | 1,420 |
| HNIs(10L +) | 120 | 1,445 |
| HNIs (2-10L) | 60 | 106 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 11.67 | 11.67 |
| RETAIL | 21.43 | 30.67 |
| NIB | 5.84 | 163.87 |
| HNIs 2+ | 1.94 | 4.54 |
| HNIs 10+ | 3.9 | 159.56 |
| HNIs | 5.84 | 164.1 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 |
|---|---|
| EPS | 5.03 |
| ROE | 0 |
| ROCE | 44.05 |
| RONW | 25.63 |
| PRE IPO(PE) | 10.74 |
| POST IPO(PE) | 14.96 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| R K Swamy Limited | 22.37 | 98 | 5 | 104.71 | 8.60 | 4.38 |
| Vertoz Limited | 11.75 | 35.97 | 10 | 27.35 | 12.31 | 3.06 |
| AdCounty Media India Limited | 8.08 | 77.94 | 10 | 47.53 | 27.96 | 9.65 |
| Yaap Digital Limited | 11.4 | 138 | 10 | 51.82 | 28.25 | 12.1 |
| Liqvd Digital Limited | 10.74 | 54.00 | 5 | 21.45 | 25.36 | 4.39 |
Company information
Company profile
Founded in 2013, the company operates as a creative-first digital marketing agency offering complete marketing and communication solutions such as content creation, media planning, social media management, influencer marketing, SEO, and AI-based content services. It helps brands connect with their target audience using data-driven strategies and technology. After acquiring AdLift Marketing in April 2025, the company strengthened its expertise in performance marketing, SEO, and analytics, and expanded its presence internationally through AdLift Inc. in the United States. The company works across four main verticals—Media, Retainer, Project, and Production—providing flexible solutions for both long-term and one-time campaigns. It serves a wide range of clients including large companies, mid-sized brands, and D2C startups, mainly in Maharashtra and Gujarat, and is headquartered in Mumbai with additional offices in Gurgaon and a content studio in Mumbai, with a significant share of revenue coming from its promoter, Concept Communication Limited.
Strengths
- Full-Service Digital Marketing Solutions: The company provides end-to-end digital marketing services, including media buying, content creation, influencer marketing, SEO and performance marketing. AI-powered content creation through AdLift Marketing further strengthens its service offerings.
- Diversified & Loyal Client Portfolio: The company has served 85 clients over the last three years across industries such as IT and communication, FMCG, logistics, financial services, manufacturing and healthcare. This provides a diversified customer base.
- In-House Technology & Scalable Operations: The company uses its in-house platforms iManage and Tesseract for project management, performance tracking and AI-driven content creation. These tools support efficient, consistent and scalable campaign execution.
Risk factors
- AdLift Marketing Acquisition Risk: The company plans to use ₹900.02 lakhs of Net Proceeds to acquire the remaining 23.21% stake in AdLift Marketing . Any difficulty or delay in completing the acquisition on agreed terms could affect its future plans and growth prospects.
- Dependence on Digital Advertising Spend: Digital operations contributed 98.93% of revenue in FY2026, 99.38% in FY2025 and 98.74% in FY2024 . A decline in clients’ digital advertising budgets or changing market trends could negatively impact revenue and financial performance.
- Risk of Clients Moving Marketing In-House: Clients may choose to handle advertising, creative, marketing, data analytics and market research activities internally. This could reduce demand for the company’s services and affect its customer base, revenue and growth.
Promoters
Arnab Mitra
Ashish Motilal Jalan
Vivek Suchanti
Concept Communication Ltd
Registrar & documents
Lead manager
Indorient Financial Services Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
B - 206, Second Avenue CTS No 17/2A/1 Subhash Nagar, Village Vyarvail MIDC, Andheri East, Chakala MIDC, Mumbai, Maharashtra, 400093
+91 22 4322 6262
[email protected]Company website ↗Understanding LIQVD 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.