Zerodha

Angel One

(₹20/Trade)

Zerodha

(Free Intraday)

IPOs, NCDs, OFS, Rights Issues, Buyback and Stock Brokers

Mainboard IPOs & FPOS SME IPOs & FPOS NCD Issues Rights Issues IPO Reports Stock Broker Stock Report

Innovision IPO Details

Bookbuilding IPO | ₹319 Cr | Listed at BSE, NSE | Tue, Mar 10, 2026 - Tue, Mar 17, 2026

IPO Stats
IPO Timetable
FAQ

Innovision IPO is a book build issue of ₹319.25 crores. The issue is a combination of fresh issue of 0.49 crore shares aggregating to ₹255.00 crores and offer for sale of 0.12 crore shares aggregating to ₹64.25 crores.

Innovision IPO bidding started from Mar 10, 2026 and ended on Mar 17, 2026. The allotment for Innovision IPO was finalized on Mar 18, 2026. The shares got listed on the NSE and the BSE on Mar 23, 2026.

Innovision IPO is set final issue price at ₹519 per share. The lot size for an application is 27 shares. The minimum amount of investment required by an individual investor (retail) is ₹14,013 (27 shares) (based on upper price). The lot size investment for sNII is 15 lots (405 shares), amounting to ₹2,10,195, and for bNII, it is 72 lots (1,944 shares), amounting to ₹10,08,936.

Emkay Global Financial Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.

Refer to Innovision IPO RHP for detailed Information.

IPO Stock Quote & Charts

IPO Details

IPO Date

10 to 17 Mar, 2026
Listing Date

Mon, Mar 23, 2026
Face Value

₹10 per share
Price Band

₹494 to ₹519
Issue Price

₹519 per share
Lot Size

27 Shares
Sale Type

Fresh capital cum OFS
Issue Type

Bookbuilding IPO
Listing At

BSE, NSE

Total Issue Size

61,51,294 shares (agg. up to ₹319 Cr)
Fresh Issue

49,13,294 shares (agg. up to ₹255 Cr)
Offer for Sale

12,38,000 shares of ₹10 (agg. up to ₹64 Cr)
Share Holding Pre Issue

1,89,00,000 shares
Share Holding Post Issue

2,38,13,294 shares
BSE Script Code / NSE Symbol

544732 / INNOVISION
ISIN

INE0ADB01012

IPO Timetable (Tentative)

IPO Open

Tue, Mar 10, 2026
Allotment

Wed, Mar 18, 2026
Credit of Shares

Fri, Mar 20, 2026

IPO Close

Tue, Mar 17, 2026
Refund

Fri, Mar 20, 2026
Listing

Mon, Mar 23, 2026

IPO Reservation

Innovision IPO offers total 61,51,294 shares. Out of which 61,512 (1.00%) allocated to QIB, 20,91,440 (34.00%) allocated to NII 39,98,342 (65.00%) allocated to RII.

Investor Category	Shares Offered	% of Net Issue	% of Total Issue	Max Allottees
QIB Shares Offered	61,512	1.00%	1.00%	NA
NII (HNI) Shares Offered	20,91,440	34.00%	34.00%	NA
− bNII > ₹10L	13,94,294		22.67%	3,442
− sNII < ₹10L	6,97,146		11.33%	1,721
Retail Shares Offered	39,98,342	65.00%	65.00%	1,48,086
Total Shares Offered	61,51,294	100.00%	100.00%

IPO Lot Size

Investors can bid for a minimum of 27 shares and in multiples thereof.

Application	Lots	Shares	Amount
Retail (Min)	1	27	₹14,013
Retail (Max)	14	378	₹1,96,182
S-HNI (Min)	15	405	₹2,10,195
S-HNI (Max)	71	1,917	₹9,94,923
B-HNI (Min)	72	1,944	₹10,08,936

IPO Subscription Details

About Innovision Ltd.

Incorporated in 2007, Innovision Limited provides manpower services, toll plaza management, and skill development training to clients across India. The company has 35 offices, including registered and corporate offices, across India. As of Jan 15, 2026, Innovision Limited operates in in 23 states and 5 union territories of India.

Manpower Services comprises 3 operational segments as follows: Manned Private Security Services, Integrated Facility Management (IFM) Services and Manpower Sourcing and Payroll.

As of Jan 15, 2026, the company served more than 180 clients across various sectors and rendered services to over 1,000 client premises.

The company serves customers across sectors including retail, healthcare, warehousing, logistics and BFSI. Max Healthcare Limited, Stellar Value Chain and Sequel Logistics are some of the customers.

Period Ended	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	271.66	220.30	157.05	108.17
Total Income	483.10	895.95	512.13	257.62
Profit After Tax	20.00	29.02	10.27	8.88
EBITDA	30.42	51.75	19.66	16.36
NET Worth	102.33	81.88	52.35	40.26
Reserves and Surplus	83.43	62.98	33.45	38.91
Total Borrowing	112.39	79.05	48.15	33.34
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects

Est Amt (₹ Cr.)
1 Repayment or pre-payment, in part or full of all or certain borrowings availed by the Company

51.00
2 Funding working capital requirements of the Company

119.00
3 General Corporate Purposes

39.80
Total

209.80

Company Financials (Restated Consolidated)

Period Ended	30 Sep 2025	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	376.24	272.39	268.10	133.96
Total Income	89.43	163.74	155.18	97.03
Profit After Tax	7.76	14.43	8.42	4.38
EBITDA	16.24	39.44	31.70	17.64
NET Worth	209.37	95.78	76.40	31.49
Reserves and Surplus	188.84	80.36	61.30	24.34
Total Borrowing	76.07	93.95	118.79	68.55
Amount in ₹ Crore

Key Performance Indicator (KPI)

KPI	Sep 30, 2025	Mar 31, 2025
ROE	19.55%	35.45%
ROCE	18.19%	40.77%
Debt/Equity	1.10	0.97
RoNW	19.55%	35.45%
PAT Margin	4.17%	3.25%
EBITDA Margin	6.34%	5.79%
Price to Book Value		11.98

Check IPO Peer Comparison here.

	Pre IPO	Post IPO
EPS (₹)	15.36	16.80
P/E (x)	33.8	30.89
Promoter Holding	100%	74.17%
Market Cap	₹1,235.91 Cr.

Lt Col Randeep Hundal and Uday Pal Singh are the company promoters.

The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.

IPO Review

[Dilip Davda]

IL is in the business of providing manpower services, toll plaza management and skill development trainings. Toll Plaza Management has a lion shares in its revenue, followed by Manpower and Skill Development segments. The company marked growth in its top and bottom lines for the reported periods. Based on its recent financial data, the issue appears exorbitantly priced. There is no harm in skipping this pricey bet, however, only well-informed/cash surplus investors may park moderate funds for long term. (This review still holds good).

Read detail review…

Innovision IPO Recommendations

Review By	Subscribe	May Apply	Neutral	Avoid
Brokers	1	0	0	2
Members	0	0	0	1

IPO Subscription Status

The Innovision IPO is subscribed 3.46 times on March 17, 2026 6:54:40 PM (Day 6). The public issue subscribed 0.60 times in the retail category, 14.30 times in the QIB category, and 8.60 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category	Subscription (x)	Shares Offered	Shares bid for
QIB (Ex Anchor)	14.30	61,513	8,79,849
NII	8.60	20,91,440	1,79,82,270
bNII (> ₹10L)	10.29	13,94,498	1,43,44,452
sNII (< ₹10L)	5.22	6,96,942	36,37,818
Retail	0.60	39,98,341	24,08,400
Total	3.46	61,51,294	2,12,70,519

Total Applications: 82,951

Refer to Innovision Revised timeline & Issue Extension here

IPO Expenses

# Issue Expenses

Est Amt (₹ Cr.)
1 Fees payable to the BRLM and commissions (including underwriting commission, brokerage and selling commission)

49.70
2 Commission/processing fee for SCSBs, Sponsor Bank and Bankers to the Offer. Brokerage underwriting and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs

1.50
3 Fees payable to the Registrar to the Offer

0.32
4 Others including (i) Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses; (ii) Printing and distribution of stationery; (iii) Advertising and marketing expenses; (iv) Fees payable to legal counsel; (v) Fees payable to other advisors to the Offer including but not limited to Statutory Auditors, Independent Chartered Accountant, industry service provider and Independent Chartered Engineer; and (vi) Misc.

5.05
Total

56.57

Listing Day Trading Information

Price Details	BSE	NSE
Final Issue Price	₹519.00	₹519.00
Open	₹466.00	₹467.70
Low	₹372.80	₹374.20
High	₹468.60	₹470.00
Last Trade	₹372.80	₹374.20

Check IPO Performance…

IPO Registrar

Kfin Technologies Ltd.

04067162222, 04079611000
innovision.ipo@kfintech.com
Visit Website

IPO Lead Manager(s)

Emkay Global Financial Services Ltd. (Past IPO Performance)

Lead Manager Reports

Lead Manager Performance Summary
Lead Manager Performance Tracker

Contact Details

Innovision Ltd. Address

1/209, First Floor,

Sadar Bazar,

Delhi Cantt,

Delhi, New Delhi, 110010

+91 011 208 9790
cs@innovision.co.in
Visit Website

IPO FAQs

What is the Innovision IPO?

Innovision IPO is a main-board IPO of 61,51,294 equity shares of the face value of ₹10 aggregating up to ₹319 Crores. The issue is priced at ₹519 per share. The minimum order quantity is 27.

The IPO opens on Tue, Mar 10, 2026, and closes on Tue, Mar 17, 2026.

Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

How to apply in Innovision IPO through Angel One ?

Angel One customers can apply online in Innovision IPO using UPI as a payment gateway. Angel One customers can apply in Innovision IPO by login into Angel One Console (back office) and submitting an IPO application form.

Steps to apply in Innovision IPO through Angel One

Visit the Angel One website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the ‘Innovision IPO’ row and click the ‘Bid’ button.
Enter your UPI ID, Quantity, and Price.
Submit IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Angel One IPO Application Process Review for more detail.

When Innovision IPO will open?

The Innovision IPO opens on Tue, Mar 10, 2026 and closes on Tue, Mar 17, 2026.

What is the lot size of Innovision IPO?

Innovision IPO lot size is 27, and the minimum amount required for application is ₹14,013.

How to apply for Innovision IPO?

You can apply in Innovision IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Angel One, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

When is Innovision IPO allotment?

The finalization of Basis of Allotment for Innovision IPO will be done on Wednesday, March 18, 2026, and the allotted shares will be credited to your demat account by Fri, Mar 20, 2026. Check the Innovision IPO allotment status.

When is Innovision IPO listing date ?

The Innovision IPO listing date is on Mon, Mar 23, 2026.