Innovision Ltd IPO Update

The public offering for Innovision Ltd, a manpower and toll plaza management services provider, has been extended to March 17 with a revised price band of ₹494 to ₹519 per share. The initial price band of ₹521 to ₹548 per share was reduced due to a tepid response from investors.

IPO Details

• The IPO has reserved not more than 1% of the shares for Qualified Institutional Buyers (QIB),
• Not less than 34% for Non-Institutional Investors (NII), and
• Not less than 65% for Retail Investors.
• The company aims to raise ₹322.84 crore at the upper end of the price band, including a fresh issuance of ₹255 crore and an offer-for-sale of 12.38 lakh equity shares.
• The funds obtained will be utilized as follows:
  • ₹51 crore for reducing certain borrowings,
  • ₹119 crore for working capital needs, and
  • The remaining funds for general corporate purposes.

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Subscription Status

• As of the fourth day, the subscription status stands at 30%.
• The retail portion is subscribed 26%, while the NII portion has been booked 35%.
• The QIB portion received 95% bids.

Grey Market Premium

• The current grey market premium (GMP) is ₹19.
• The estimated listing price is ₹538 apiece, which is 3.66% higher than the IPO price of ₹519.

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Company Performance

• Innovision Ltd has undergone substantial growth over the past two years, mainly due to its expansion in the toll plaza management and manpower services sectors.
• Net revenue increased to ₹893.1 crore in FY25, rising from ₹510.3 crore in FY24, representing a 75% increase year-over-year.
• EBITDA grew to ₹48.9 crore in FY25, up from ₹17.9 crore in FY24, demonstrating a 174% year-over-year increase.
• Profit jumped to ₹30.0 crore in FY25 from ₹10.4 crore in FY24, reflecting an impressive 189% year-over-year growth.

Listing Date

• Innovision Ltd is expected to be listed on BSE and NSE on Friday, March 20.