Innovision Files for ₹323 Crore IPO: Key Highlights from Red Herring Prospectus

Innovision IPO Details

IPO Timeline The initial public offering (IPO) of Innovision is scheduled to open for public subscription on Tuesday, March 10, and will remain open till Thursday, March 12. The share allotment is expected to be finalized on Friday, March 13, while the stock is proposed to debut on the BSE and the NSE on Tuesday, March 17.

IPO Pricing The IPO price band is set at ₹521 to ₹548 per share.

IPO Details The book build issue combines a fresh issue of 47 lakh shares to raise ₹255 crore and an offer for sale (OFS) of 12.4 lakh shares aggregating to ₹67.84 crore.

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Key Facts

• Book-running lead manager: Emkay Global Financial Services Ltd.
• Registrar: KFin Technologies
• Selling shareholders: Lt Col Randeep Hundal and Uday Pal Singh
• Objects of the offer: Payment of certain borrowings, funding of working capital requirements, and general corporate purposes
• Business: Manpower services, toll plaza management, and skill development training
• Operations: Present in 23 states and 5 union territories as of January 15, 2026
• Financial performance:
  • Profit: ₹9 crore (FY23), ₹10.3 crore (FY24), and ₹29 crore (FY25)
  • Revenue from operations: ₹255.56 crore (FY23), ₹510.3 crore (FY24), and ₹893.1 crore (FY25)
• Promoters: Lt Col Randeep Hundal and Uday Pal Singh
• Industry peers: Innovision Limited, Krystal Integrated Services Limited, Updater Services Limited, SIS Limited, Quess Corp Limited, and Highway Infrastructure Ltd
• Industry outlook: The Indian security services (manned security) market is projected to grow at a CAGR of 11.5% from 2023 to 2029, reaching ₹1,716 billion by 2029.