Innovision IPO Opens for Trading, Muted Listing Expected Amid Initial Public Offering's First Day

Innovision IPO Day 1 Report

Key Statistics:

• ₹255 crore: Fresh issuance of equity shares
• 12.38 lakh: Number of equity shares offered for sale by promoters
• ₹68 crore: Value of OFS at maximum price
• ₹521 - ₹548: Price band for Innovision IPO
• ₹1,300 crore: Company valuation at upper limit of price band

IPO Details: Innovision Ltd, a Haryana-based provider of manpower and toll plaza management services, is set to open for public subscription from March 10 to March 12. The company's IPO includes a fresh issuance of ₹255 crore alongside an Offer For Sale (OFS) of 12.38 lakh equity shares, valued at ₹68 crore at the maximum price, from its promoters Randeep Hundal and Uday Pal Singh.

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IPO Allocation: The funds raised from the new issuance will be allocated for debt repayment, working capital needs, and various corporate purposes.

Company Overview: Innovision focuses on delivering workforce services, encompassing manned security solutions, comprehensive facility management, as well as recruitment and payroll administration.

Grey Market Trend: The grey market price of Innovision IPO shares is ₹0, indicating that shares are trading at their issue price of ₹548 with no premium or discount.