Innovision Ltd IPO Report

IPO Details

• IPO Period: Opened on 10 March 2026 and closes on 12 March 2026
• Price Band: ₹521 to ₹548 per share
• IPO Size: ₹323 crore, comprising ₹68 crore from Offer for Sale (OFS) and ₹255 crore from fresh issuance of shares
• Lot Size: 27 shares per lot

Grey Market Premium

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• IPO GMP: ₹0 per share, trading at par in the grey market

Key Dates

• IPO Allotment Date: Expected to be 13 March 2026
• IPO Listing Date: Expected to be 17 March 2026

Financial Analysis

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• Return on Net Worth (RoNW): 35.45%, the highest in the peer group, indicating efficient capital use
• Price-to-Earnings (P/E) Ratio: 35.69x, already pricing in significant future growth
• EBITDA Margin: 5.78%, thin margins leave limited margin of safety

Investment Recommendation

• Swastika Investmart Report: The issue looks highly priced with a PE of 45 at the end of FY25 and 32 at the end of FY26
• SEBI-registered Equity Analyst Avinash Gorakshkar: Avoid applying to this IPO due to high valuation