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Manpower and infrastructure services firm Innovision Limited has fixed the price band for its initial public offering (IPO) at Rs. 521 to Rs 548 per equity share. The public issue will open for subscription on March 10 and close on March 12, 2026.
The company plans to raise Rs. 322.84 crore through the IPO, which includes a fresh issue of shares worth Rs. 255 crore and an offer-for-sale (OFS) of 12.38 lakh shares by existing shareholders.
Shares of the company are expected to list on the BSE and the NSE on March 17, 2026, according to the tentative schedule.
The anchor investor portion will open on March 9, 2026, a day before the issue opens for public subscription.
Investors can apply for a minimum lot of 27 shares, and bids can be placed in multiples of this lot size.
Under the issue structure, 75% of the shares are reserved for qualified institutional buyers (QIBs). Non-institutional investors (NIIs) will get 15% of the allocation, while retail investors will receive 10%.
The basis of allotment is likely to be finalized on March 13, 2026. Shares are expected to be credited to investors’ demat accounts on March 16, 2026, while refunds for unsuccessful bids will also be processed around the same time.
Innovision plans to use the funds raised through the fresh issue mainly to reduce debt and support operational needs.
The company will allocate about Rs. 51 crore for repayment or prepayment of certain borrowings. Another Rs. 119 crore will be used to meet working capital requirements. The remaining funds will be used for general corporate purposes.
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Innovision Limited started its operations in 2007 as a private security services provider and later added manpower outsourcing, toll plaza management, and skill development services to its service offerings.
The company provides its services to customers in 23 states and five union territories, serving industries such as infrastructure, healthcare, logistics, and government projects.
The company announced its fiscal year 2025 revenue figure of Rs. 8,931 crore, which represents a growth from the previous year's revenue of Rs. 5,103 crore. The company experienced revenue growth, which resulted in an increase in net profit to Rs 29 crore from Rs 10.3 crore.
Emkay Global Financial Services serves as the main book-running lead manager for the project, while KFin Technologies has assumed the role of registrar for the public offering.
