Innovision Ltd IPO Day 3 Update

Key Highlights

• The initial public offering (IPO) of Innovision Ltd, a manpower and toll plaza management services company, saw a 12% subscription on the second day of bidding on March 11.
• The Innovision IPO comprises a fresh issue worth up to ₹255 crore and an offer-for-sale of up to 12,38,000 equity shares.
• The price band for the IPO has been set between ₹521 and ₹548 per share.

IPO Allocation and Utilization

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• The funds raised from the fresh issue will be allocated towards:
  • Debt repayment
  • Supporting the company's working capital needs
  • Other general corporate purposes

Company Overview

• Innovision Ltd specializes in offering manpower services, including:
  • Manned private security
  • Integrated facility management solutions
  • Manpower sourcing and payroll management
• The company also manages toll plaza operations, including user fee collection and associated services, secured through competitive bidding processes.
• Innovision Ltd is registered with the National Highways Authority of India (NHAI) for toll collection at various sites.
• Additionally, the company provides skill development training as a collaborator for various initiatives by the Center and state governments.
• Through its wholly-owned subsidiary, Innovision International Pvt Ltd, the company offers recruitment, placement consulting, and visa facilitation services.