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Informist, Monday, Mar. 23, 2026

MUMBAI - Shares of Innovision Ltd. closed at INR 374.20 on the National Stock Exchange on Monday, down almost 28% from the issue price. The stock listed on the exchange at INR 467.70, a discount of almost 10% to the issue price of INR 519. More than 7.3 million shares of the company changed hands on NSE.

The company had reduced the price band of its initial public offering to INR 494–INR 519 per share from INR 521–INR 548 per share and extended its offering to six days after getting muted response in the initial days.

Innovision provides services such as manned private security, integrated facility management services, workforce sourcing, toll plaza management, and payroll management. For the six months ended September, it had reported a net profit of INR 203.23 million on revenue of INR 4.80 billion on a consolidated basis.  (Eshitva Prakash)

IPO Alert: Innovision to list Mon; issue price set at INR 519 per share

Informist, Friday, Mar. 20, 2026

MUMBAI – Innovision Ltd. will list on bourses Monday. The issue price has been set at INR 519 per share. The company's initial public offering, which ended Tuesday, was subscribed 3.3 times. The company received bids for 21.27 million shares against almost 6.40 million shares on offer.

Innovision provides services such as manned private security, integrated facility management services, workforce sourcing, toll plaza management, and payroll management. For the six months ended September, it had reported net profit of INR 203.23 million on revenue of INR 4.80 billion on a consolidated basis. (Simran Rede)

IPO Alert: Innovision public issue subscribed 3.3 times on final day

Informist, Tuesday, Mar. 17, 2026

MUMBAI – The decision to extend its initial public offering has worked in favour of Innovision Ltd., with its public offering being oversubscribed by 3.3 times at the end of the final day. The issue received bids for 21.27 million shares against almost 6.40 million shares on offer, NSE data showed. While a majority of the interest was driven by non-institutional and qualified institutional buyers, retail participation also saw a slight uptick.

To boost demand for its offering, the company had previously reduced the IPO price band to INR 494–INR 519 per share from INR 521–INR 548 per share. The portion reserved for non-institutional investors was oversubscribed, with bids placed for 17.98 million shares against 2.18 million shares reserved for them. Qualified institutional investors' bid for 879,849 shares against the near-64,000 shares kept aside for them. Retailers bid for 2.41 million shares, as compared to the 4.16 million shares reserved for this segment. 

Innovision provides services such as manned private security, integrated facility management services, workforce sourcing, toll plaza management, and payroll management. For the six months ended Sept. 30, it had reported net profit of INR 203.23 million on revenue of INR 4.80 billion on a consolidated basis.  (Eshitva Prakash)

IPO Alert: Innovision's issue subscribed 1.2 times as of day 5

Informist, Monday, Mar. 16, 2026

MUMBAI – Innovision Ltd.'s initial public offering was oversubscribed on the fifth day after poor initial demand had led the company to extend the offer by another three days until Tuesday. The issue received bids for 7.69 million shares against the 6.40 million shares on offer, BSE data showed. This means the overall subscription was 1.20 times. The company had slashed its IPO price band to INR 494–INR 519 per share from INR 521–INR 548 per share.

The issue saw strong interest from non-institutional investors on the fifth day. These investors bid for 5.71 million shares, against 2.18 million shares reserved for them. Retail participation, however, was relatively weak. Retailers bid for just 1.17 million shares, as compared to the 4.16 million shares reserved for this segment. 

Innovision provides services such as manned private security, integrated facility management services, workforce sourcing, toll plaza management, and payroll management. For the six months ended Sept. 30, it had reported net profit of INR 203.23 million on revenue of INR 4.80 billion on consolidated basis.  (Eshitva Prakash)

IPO Alert: Innovision struggles despite extension; subscribed 30% on Day 4

Informist, Friday, Mar. 13, 2026

MUMBAI – The initial public offering of Innovision Ltd., which was extended by another three days due to weak response from investors, continued to see tepid demand on the fourth day of bidding. The issue received bids for just 1.91 million shares against 6.40 million shares on offer, BSE data showed. This means the overall subscription was just 0.3 times. The weak response led the company to cut its IPO price band to INR 494–INR 519 per share from INR 521–INR 548 per share earlier.

On day four, the portion for qualified institutional buyers was almost fully subscribed, with the company getting bids for 60,804 shares, as per exchange data. Meanwhile, only 35% of the allotted portion, or 761,967 shares reserved for non-institutional investors was subscribed. Retail investors continued to show muted interest just 1.09 million or 26% of the shares offered to this segment was subscribed to.

The IPO opened on Tuesday and was extended by another three days due to weak investor participation. The lot size for retail investors remains the same at one lot of 27 shares.

Innovision provides services such as manned private security, integrated facility management services, workforce sourcing, toll plaza management, and payroll management. For the six months ended Sept. 30, it reported a net profit of INR 203.23 million on a revenue of INR 4.80 billion on a consolidated basis.  (Eshitva Prakash)

IPO Alert: Innovision issue subscribed 23% on Day 3; to now close on Mar 17

Informist, Thursday, Mar. 12, 2026

NEW DELHI – The initial public offering of Innovision Ltd. was subscribed 23% as on Day 3, with the company receiving bids for 1.39 million shares against 6.13 million shares on offer, National Stock Exchange data showed. Due to the poor response from investors, the closing date of the issue has been extended to Mar. 17.

As on the third day, the portion for qualified institutional buyers was subscribed 0.99 times, with bids submitted for 60,804 shares as against 61,323 shares set aside for the segment. The portion for non-institutional investors was subscribed 0.31 times, with bids submitted for 642,816 shares as against 2.09 million shares set aside for the category. The retail individual investors' portion was subscribed 0.17 times, with bids submitted for 690,174 shares against 3.99 million shares allocated for the segment. 

The IPO opened for subscription on Tuesday and comprised a fresh issue of shares worth up to INR 2.55 billion and an offer for sale of up to 1.24 million shares. The company planned to use INR 1.19 billion of the total proceeds for working capital and INR 510 million for partial or complete repayment of borrowings. 

Innovision provides services such as manned private security, integrated facility management services, workforce sourcing, toll plaza management, and payroll management. For the six months ended Sept. 30, it had reported a net profit of INR 203.23 million on a revenue of INR 4.80 billion on a consolidated basis. (Astha Oriel)

IPO Alert: Poor show continues for Innovision offer, subscribed 12% on Day 2

Informist, Wednesday, Mar. 11, 2026

MUMBAI – The initial public offering of Innovision Ltd. was subscribed 0.12 times at the end of the second day, with the company receiving bids for 714,258 shares as against the 6.13 million shares on offer. While the demand for shares increased slightly from Day 1, negligible participation from retail and non-institutional players meant that the dismal performance of the public float continued.

The portion for non-institutional investors was subscribed 0.19 times, with bids submitted for 396,495 shares as against 2.09 million shares set aside for the segment. Bids for the qualified institutional buyers' subscription remained unchanged at 0.96 times on the second day, with bids submitted for 58,914 shares against 61,323 shares reserved for these investors. The retail individual investors' portion was subscribed 0.06 times, with bids submitted for 258,849 shares against the 3.99 million shares reserved for the category.

The IPO opened for subscription on Tuesday and the price band was set at INR 521–INR 548. The offer comprises a fresh issue of shares worth up to INR 2.55 billion and an offer for sale of up to 1.24 million shares. The company plans to use INR 1.19 billion of the total proceeds for working capital and INR 510 million for partial or complete repayment of borrowings. 

Innovision provides services such as manned private security, integrated facility management services, workforce sourcing, toll plaza management, and payroll management. For the six months ended Sept. 30, it had reported a net profit of INR 203.23 million on a revenue of INR 4.80 billion on a consolidated basis.  (Eshitva Prakash)

IPO Alert: Innovision public issue gets 2% subscription on opening day

Informist, Tuesday, Mar. 10, 2026

MUMBAI – There was almost no buying interest in Innovision Ltd.'s public float on the opening day. The company received bids for just 122,364 shares against 6.13 million shares on offer, or about 2% of the total issue size. The price band for the issue has been set at INR 521-INR 548 per share.

The portion reserved for qualified institutional buyers was the only one in demand, getting 96% subscription, with bids for 58,914 shares against 61,323 shares set aside for the segment. The retail investors' portion saw negligible subscription, with the company receiving bids for 61,344 shares against 3.99 million shares reserved for the category. Non-institutional investors also gave the public issue a wide berth, bidding for a mere 2,106 shares against 2.09 million shares kept aside for them.

The offer comprises a fresh issue of shares worth up to INR 2.55 billion and an offer for sale of up to 1.24 million shares. The company plans to use INR 1.19 billion of the total proceeds for working capital and INR 510 million for partial or complete repayment of borrowings. The rest of the proceeds will be used for general corporate purposes.

The Haryana-based company provides manpower services, which include manned private security, integrated facility management services, manpower sourcing, toll plaza management, and payroll management. For the six months ended Sept. 30, it had, on a consolidated basis, reported a net profit of INR 203.23 million on a revenue of INR 4.80 billion.  (Eshitva Prakash)

IPO Alert: Innovision sets price band at INR 521-INR 548 per share

Informist, Thursday, Mar. 5, 2026

MUMBAI – Innovision Ltd. has set the price band for its initial public offering at INR 521–INR 548 per share. The public offer will open for subscription on Mar. 10 and close on Mar. 12, according to an advertisement published in the Financial Express newspaper. Investors can bid for a minimum of 27 equity shares and in multiples of 27 thereafter. The face value of each share is INR 10.

The price-to-earnings ratio based on the diluted earnings-per-share for 2024-25 (Apr-Mar) for the lower end of the price band is at 33.35 times and at the upper end, it is 35.08.  The offer comprises a fresh issue of up to INR 2.55 billion and an offer for sale of up to 1.24 million shares. 

The Haryana-based company provides manpower services, which include manned private security, integrated facility management services, manpower sourcing, toll plaza management, and payroll management. The toll plaza management operations comprise user-fee collection and related services at toll plazas, secured through competitive bidding processes. For the six months ended September, the company reported a consolidated net profit of INR 203.23 million on revenues of INR 4.80 billion.  (Ashvita Chalke)

IPO Alert: SEBI issues observation letter for Innovision's fresh issue, OFS

Informist, Wednesday, Mar. 19, 2025

MUMBAI – The Securities and Exchange Board of India issued an observation letter to Innovision Ltd.'s initial public offering on Mar. 12. The regulator issuing an observation letter to an IPO-bound company means that it has identified areas in the draft prospectus that need clarification or amendment before proceeding with its public offering. This is done to ensure that a company meets all regulatory requirements for the public issue. 

The initial public offering of the company comprises a fresh issue of shares worth 2.55 billion and an offer for sale of 1.77 million shares. The company will use INR 1.27 billion of the total funds raised to fund its working capital requirements. It will use INR 430 million of the funds raised for partial or complete repayment of its borrowings and the rest will be used to fund general corporate purposes. There are 56 statutory proceedings and one criminal proceeding amounting to INR 77.72 million against the company. Innovision had contingent liabilities amounting to INR 344.8 million as of Sept. 30, the company said.  

The Haryana-based company provides manpower services, which include manned private security, integrated facility management services, manpower sourcing, toll plaza management, and payroll management. The toll plaza management operations comprise user-fee collection and related services at toll plazas, secured through competitive bidding processes, the company had said in its draft papers, citing a report from Care Analytics. As of Sept. 30, the company has operations in 22 states and 3 union territories.  (Gopika Balasubramanium)

IPO Alert: Innovision refiles DRHP for INR 2.5-bln fresh issue, OFS

Informist, Monday, Dec. 16, 2024

MUMBAI – Manpower services provider Innovision Ltd. Monday refiled its draft red herring prospectus with the Securities and Exchange Board of India to raise funds through an initial public offering after the market regulator had returned the draft papers on Oct. 1. In the new prospectus, the company has reduced the fresh issue of shares to INR 2.55 billion from INR 3.15 billion and raised the offer for sale up to 1.77 million shares from 1.18 million earlier.

Promoters Randeep Singh and Uday Pal Singh will sell 885,937 shares each in the offer-for-sale at a weighted cost of acquisition of INR 1.66 per share. The shares will have a face value of INR 10 each. The company said it will not consider a pre-initial public offering placement.

The Haryana-based company provides manpower services, which include manned private security, integrated facility management services, manpower sourcing, toll plaza management, and payroll management. The toll plaza management operations comprise user-fee collection and related services at toll plazas, secured through competitive bidding processes, the company said, citing a report from Care Analytics. As of Sept. 30, the company has operations in 22 states and 3 union territories. 

The company reported a net profit of INR 150 million for the first half of the current financial year on revenue of INR 4.13 billion. It reported a net profit of INR 102.7 million for 2023-24 (Apr-Mar) on revenues of INR 5.1 billion. For FY23, it reported a net profit of INR 88.81 million on revenue of INR 2.56 billion. In FY22, the company reported a net profit of INR 40.54 million on revenue of INR 2.1 billion.

The company will use INR 1.27 billion of the total funds raised to fund its working capital requirements. It will use INR 430 million of the funds raised for partial or complete repayment of its borrowings and the rest will be used to fund general corporate purposes. There are 56 statutory proceedings and one criminal proceeding amounting to INR 77.72 million against the company. Innovision had contingent liabilities amounting to INR 344.8 million as of Sept. 30, the company said.  

The company derives a substantial portion of its revenue from its toll plaza management services, for which it is solely dependent on the National Highways Authority of India. Toll plaza management services contributed 56.41% to the company's total revenue in the first half of the current financial year. In FY24, this segment contributed 47.38% to the total revenue. 

The manpower services segment is also a major contributor, accounting for 40.31% of the total revenue in Apr-Sept. In FY24, the manpower services contributed 51.45% to the total revenue of the company, while in FY23 revenue from this segment was 84% of the total revenue. Any loss in demand in these two segments could significantly affect the business of the company.

The offer will be made through a book building process in which at least 75% of the net issue has been earmarked for qualified institutional buyers. Not more than 15% has been earmarked for non-institutional investors and not more than 10% for retail investors. Emkay Global Financial Services Ltd. is the book running lead manager for the offer and Kfin technologies Ltd. is the registrar.  (Ayushman Mishra) 

IPO Alert: SEBI returns draft papers filed by Innovision

Informist, Tuesday, Oct. 1, 2024

MUMBAI – The Securities and Exchange Board of India has returned the draft papers filed by Innovision Ltd. for an initial public offering for a fresh issue of shares worth INR 3.15 billion and an offer for sale of up to 1.18 million equity shares by the promoters. The market regulator returned the draft paper on Sunday, according to data on SEBI's website.

Innovision had filed a draft red herring prospectus with SEBI for the initial public offering late August. The Haryana-based company provides manpower services, which include manned private security, integrated facility management services, manpower sourcing, and payroll management. (Anjali Singh)

IPO Alert:Innovision files draft paper with SEBI for fresh issue, OFS

Informist, Tuesday, Aug 20, 2024

MUMBAI – Innovision Ltd, a security manpower company, has filed its draft red herring prospectus with the Securities and Exchange Board of India to raise funds through an initial public offering. The initial public offering is a combination of a fresh issue of shares worth 3.15 bln rupees and an offer for sale of up to 1.18 mln equity shares by the promoters. In both cases, the shares will have a face value of 10 rupees each.

The offer for sale consists of up to 590,625 equity shares each by promoters Randeep Hundal and Uday Pal Singh. The proceeds from its fresh issuance to the extent of 550 mln rupees will be towards repayment or pre-payment, in part or full, of all or certain borrowings availed by the company, 1.60 bln rupees for funding working capital requirements of the company and general corporate purposes.

The Haryana-based company provides manpower services, which include manned private security, integrated facility management services, manpower sourcing, and payroll management. The toll plaza management operations comprise user-fee collection and related services at toll plazas, secured through competitive bidding processes.

Innovision also offers skill development training as a partner for various central and state government schemes. It provides recruitment, placement consultancy, and visa facilitation services through its wholly-owned subsidiary, Innovision International Pvt Ltd. It also provides remote pilot training courses for drone enthusiasts and aspiring operators through its subsidiary, Aerodrone Robotics Pvt Ltd.

Currently, Innovision operates at six toll plazas located in Uttarakhand, Assam, Uttar Pradesh, and West Bengal. As of Jun 30, the company has served over 200 clients across various sectors, providing services at more than 1,500 client locations. Key clients include Max Healthcare Ltd, Stellar Value Chain, and Sequel Logistics.

Emkay Global Financial Services Ltd is the book running lead manager and KFin Technologies Ltd is the registrar of the offer. The equity shares are proposed to be listed on the BSE and National Stock Exchange.  (Alina Geogy)  End

Edited by Ashish Shirke

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