What is the GMP of Innovision IPO today?

The Grey Market Premium (GMP) for Innovision IPO is currently ₹0. With an upper price band of ₹519, the estimated listing price is ₹519 per share, reflecting an expected listing gain of ~0%. Grey market premiums can fluctuate based on market sentiment and subscription demand.

What is the price band and lot size for Innovision IPO?

The price band for Innovision IPO is ₹494 to ₹519 per equity share. The minimum lot size is 27 shares, which requires a minimum retail application investment of ₹14,013.

What are the important dates for Innovision IPO?

Innovision IPO opens for subscription on 2026-03-10T00:00:00 and closes on 2026-03-17T00:00:00. The basis of allotment is scheduled for 2026-03-18T00:00:00, and shares are expected to list on 2026-03-23T00:00:00 on BSE, NSE.

How can I check the allotment status for Innovision IPO?

You can check Innovision IPO allotment status on the registrar's official portal (KFin Technologies Limited) or through the official BSE and NSE IPO allotment status pages using your PAN number or Application number.

How to apply for Innovision IPO?

Investors can apply for Innovision IPO online through ASBA (Application Supported by Blocked Amount) via their internet banking account, or via UPI using authorized stockbroking platforms like Zerodha, Groww, Angel One, and Upstox.

When does the Innovision IPO open and close?

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

What is Innovision IPO price band?

The issue price band is ₹494.00 to ₹519.00 per equity share.

What is the Innovision IPO lot size?

The minimum lot size is 27 shares per application.

What is the Innovision IPO allotment date?

The allotment is scheduled on 18 Mar 2026.

Innovision IPO Details - Dates, Price Band, Issue Size

All IPOs

Issue Size

319.00 Cr

Price Band

₹494.00 - ₹519.00

Lot Size

27 Shares

Min Investment

₹14,013

GMP

₹0

Subscription

3.46x

₹1,103.94 Cr

10 Mar 2026

IPO Opens

COMPLETED

17 Mar 2026

IPO Closes

COMPLETED

18 Mar 2026

Basis of Allotment

COMPLETED

20 Mar 2026

Refunds

COMPLETED

20 Mar 2026

Demat Credit

COMPLETED

23 Mar 2026

Listing

COMPLETED

IPO Timeline

IPO OpensDONE

10 Mar 2026

IPO ClosesDONE

17 Mar 2026

Basis of AllotmentDONE

18 Mar 2026

RefundsDONE

20 Mar 2026

Demat CreditDONE

20 Mar 2026

ListingDONE

23 Mar 2026

About Innovision IPO

Innovision IPO open date is March 10, 2026 and the IPO will close on March 17, 2026. Innovision IPO is a Book build Issue. The company to raise around ₹306 crores via IPO that comprises fresh issue of ₹242 crores and offer for sale up to 12,38,000 equity shares with face value of ₹10 each.

Innovision IPO price band is ₹494 to ₹519 per share. The retail quota is 65%, QIB is 1%, and HNI is 34%. Innovision IPO to list on BSE, NSE on March 23, 2026. The allotment of Innovision IPO date is March 18, 2026.

The company reported revenue of ₹895.95 crores in 2025 against ₹512.13 crores in 2024. The company reported profit of ₹29.02 crores in 2025 against profit of ₹10.27 crores in 2024. As per the financials the IPO investors should apply the IPO for a long term.

IPO Details

Innovision IPO Details and Specifications
IPO Date	10 Mar 2026 to 17 Mar 2026
Face Value	₹10 Per Share
Price Band	₹494.00 - ₹519.00
Lot Size	27 Shares
Total Issue Size	Approx 319.00 Cr 61,51,294 Equity Shares
Fresh Issue	Approx 255.00 Cr 49,13,294 Equity Shares
Offer for Sale	Approx 64.00 Cr 12,38,000 Equity Shares
Retail Portion	65%
Sale Type	Offer for sale
Issue Type	Bookbuilding IPO
Listing Date	23 Mar 2026
Listing At	BSE & NSE
Total Subscription Amount	₹1,103.94 Cr

Issue Reservation

Investor Category	Shares Offered	% Net Issue
QIB	TBA	0.00%
- QIB (Ex. Anchor)	61,512	1.00%
NII	20,91,440	34.00%
- bNII > ₹10L	13,94,294	22.67%
- sNII < ₹10L	6,97,146	11.33%
Retail	39,98,342	65.00%
Total	61,51,294	100.00%

IPO Lot Size

Application	Lots	Shares	Amount
Individual investors (Retail) (Min)	1	27	₹14,013
Individual investors (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

About Company

Set up in 2007, Innovision Limited offers manpower services, manages toll plazas, and provides skill development training across India. As of January 16, 2026, the firm operates 35 offices across 23 states and 5 union territories in India. Its manpower services are divided into 3 segments: Manned Private Security Services, Integrated Facility Management (IFM) Services, and Manpower Sourcing and Payroll.

Max Healthcare Limited, Stellar Value Chain, and Sequel Logistics are among the company’s major customers. Its services are catered to retail, healthcare, warehousing, logistics, and BFSI sectors. So far, the firm has served over 180 clients. Moreover, the firm also offers training to security guards at its training centre in Rewari, Haryana, following government rules.

Contact Details

Innovision Ltd.

1/209, First Floor,

Sadar Bazar,

Delhi Cantt,

Delhi, New Delhi, 110010

+91 011 208 9790

cs@innovision.co.in

Visit Website

Registrar

KFin Technologies Limited

04067162222

innovision.ipo@kfintech.com

Lead Managers

Emkay Global Financial Services Ltd

Day-wise GMP Trend

Date & Time	GMP (₹)	Est. Listing Price	Est. Gain (%)	Est. Profit / Lot (₹)
23-Mar-2026 12:00 PM	+₹0	₹519	+0.00%	₹0
22-Mar-2026 12:00 PM	+₹0	₹519	+0.00%	₹0
21-Mar-2026 12:00 PM	+₹0	₹519	+0.00%	₹0
20-Mar-2026 12:00 PM	+₹0	₹519	+0.00%	₹0
19-Mar-2026 12:00 PM	+₹0	₹519	+0.00%	₹0
18-Mar-2026 12:00 PM	+₹0	₹519	+0.00%	₹0
17-Mar-2026 12:00 PM	₹-3	₹516	-0.58%	₹-81
16-Mar-2026 12:00 PM	+₹19	₹538	+3.66%	₹513
14-Mar-2026 12:00 PM	+₹7	₹526	+1.35%	₹189
13-Mar-2026 12:00 PM	+₹4	₹523	+0.77%	₹108
12-Mar-2026 07:00 AM	+₹71	₹590	+13.68%	₹1,917
11-Mar-2026 12:00 PM	+₹60	₹579	+11.56%	₹1,620
10-Mar-2026 07:00 AM	+₹0	₹519	+0.00%	₹0
09-Mar-2026 07:00 AM	+₹0	₹519	+0.00%	₹0
07-Mar-2026 08:00 AM	+₹0	₹519	+0.00%	₹0
06-Mar-2026 06:00 AM	+₹0	₹519	+0.00%	₹0
05-Mar-2026 07:00 AM	+₹0	₹519	+0.00%	₹0

Subscription Status

Category	Subscription (x)	Shares Offered	Shares bid for	Total Amount (₹ Cr)
QIB (Ex. Anchor)	14.30x	61,512	8,79,849	₹45.66 Cr
NII	8.60x	20,91,440	1,79,82,270	₹933.28 Cr
bNII > ₹10L	10.29x	13,94,294	1,43,44,452	₹744.48 Cr
sNII < ₹10L	5.22x	6,97,146	36,37,818	₹188.80 Cr
Retail	0.60x	39,98,342	24,08,400	₹125.00 Cr
Total	3.46x	61,51,294	2,12,70,519	₹1,103.94 Cr

Objects of the Issue

01 Repayment or pre-payment, in part or full of all or certain borrowings availed by the Company : 51.00 Cr
02 Funding working capital requirements of the Company : 119.00 Cr
03 General Corporate Purpose : 39.80 Cr
04 Issue Expenses : 56.57 Cr

Company Financials

Period Ended	30 SEPT 2025	31 MAR 2025	31 MAR 2024
Total Income	483.10	895.95	512.13
Profit After Tax	20.00	29.02	10.27
EBITDA	30.42	51.75	19.66
NET Worth	102.33	81.88	52.35
Reserves and Surplus	83.43	62.98	33.45
Total Borrowing	112.39	79.05	48.15

Amount in ₹ Crore

IPO Valuation - KPI

KPI	31 Mar 2025
ROCE	40.77%
Debt/Equity Ratio	0.97
Return on Net Worth (RoNW)	35.45%
PAT Margin	3.25%
EBITDA Margin	5.79%
Net Asset Value (NAV)	₹43.32
Earning Per Share (EPS)	₹15.62
Price/Earning P/E Ratio	-

Peer Comparison

Company Name	EPS (₹)	P/E (x)	NAV (₹)	RoNW (%)	Income (₹ Cr)
Highway Infrastructure Ltd	3.40	15.15	20.37	19.03	495.72
Quess Corp Limited	3.07	63.37	72.92	4.23	14,967.20
SIS Limited	0.81	401.85	166.79	0.49	13,189.04
Updater Services Limited	17.70	8.62	144.07	12.33	2,736.06
Krystal Integrated Services Limited	44.61	13.47	312.92	14.30	1,212.78

Promoters and Holding Pattern

Lt Col Randeep Hundal, Uday Pal Singh are the company's promoters of Innovision.

Particular	Pre IPO	Post IPO
Promoter and Promoter Group	100.00%	74.17%
Others*	0.00%	25.83%

Strengths

The company claims to operate through 39 offices across India, with operations in 23 states and 5 Union Territories as of January 15, 2026. It is licensed under the Private Security Agencies (Regulation) Act (PSARA) in 19 states and 4 Union Territories, enabling it to provide manned private security services across multiple jurisdictions
The company claims to operate a PSARA-compliant training centre at Rewari, Haryana, spread over approximately 3,000 square yards. The facility is supported by certified trainers and is used to provide mandatory training to security personnel in accordance with regulatory requirements.
Innovision provides manned private security, integrated facility management (IFM), and manpower sourcing and payroll services. As of January 15, 2026, its clients as of September 30, 2025, March 31, 2025, March 31, 2024, and March 31, 2023, were 6, 10, 9, 7, and 5, respectively, and had availed the complete stack of manpower services, indicating cross-utilisation of its service segments.
In its toll plaza management segment, the company's sole client is NHAI, a government entity. As of January 15, 2026, it was operating 9 toll plazas and had undertaken a total of 60 toll-related projects, including ongoing assignments across Uttar Pradesh, Assam, Jharkhand, Rajasthan, and Haryana. Its experience in managing projects across diverse geographies may provide operational advantages in executing and scaling similar projects in the future.
The skill development segment primarily serves government clients under central and state-sponsored schemes. The company is associated with NSDC and various sector skill councils and reported training 54,149 persons in FY25 across multiple vocational sectors.
The company is ISO 9001:2015 certified for quality management systems. It also claims to hold ISO 14001 certification for environmental management systems and ISO 45001 certification for occupational health and safety management systems.
The company has reported growth in revenue from operations and profit after tax over the last three years. Revenue from operations increased from Rs 255.56 crore in FY23 to Rs 510.56 crore in FY24 and further to Rs 893.13 crore in FY25. During the same period, PAT rose from Rs 8.88 crore in FY23 to Rs 10.27 crore in FY24 and Rs 29.02 crore in FY25.

Risks

The company has received multiple show-cause notices and debarment orders from NHAI in relation to alleged fraudulent practices at the Paschim Medati Toll Plaza, West Bengal, including allegations of using parallel software and breaching contractual obligations, resulting in contract termination and encashment of performance securities. An adverse outcome of the ongoing debarment proceedings initiated by key clients, particularly NHAI, may adversely affect the company's business.
The company was debarred by Gujarat Gas Limited for one year in February 2025 for submission of a false completion certificate by an employee. The debarment was subsequently revoked upon payment of Rs 0.20 crore. Additionally, NHAI issued a notice dated October 31, 2025, seeking termination of a manpower services contract and debarment of the company for one year, which was later quashed by the Punjab & Haryana High Court. However, NHAI has been granted liberty to initiate fresh proceedings. Recurrence of such debarment actions, blacklisting, or encashment of performance guarantees could materially affect the company's ability to secure new contracts, damage its reputation, and adversely impact its cash flows and financial condition.
NHAI has debarred the company for one year from undertaking new projects. However, this order has been stayed by the Delhi High Court, and the matter is pending adjudication. Any adverse decision may restrict the company from bidding for new NHAI toll projects and may result in deferment or rescheduling of the utilisation of funds proposed to be deployed towards working capital requirements, thereby impacting its revenue and financial position.
During FY25, Lt. Col. Randeep Hundal utilised the official corporate credit card towards personal expenses amounting to Rs 0.30 crore, which was subsequently adjusted against loans repayable by the company to him. Such breaches of the terms of usage of corporate facilities could impact the company's reputation, day-to-day operations, and finances.
The company is dependent on a single client, NHAI, for its toll plaza management revenue, which contributed Rs 273.99 crore (57.08%) in the six months ended September 30, 2025, Rs 501.43 crore (56.14%) in FY25, Rs 241.80 crore (47.38%) in FY24, and Rs 33.33 crore (13.04%) in FY23 to its total revenue. Any inability to win new bids from NHAI or adverse changes in government policies in the toll sector may severely impact this segment and adversely affect the company's results of operations.
Manpower services contributed Rs 202.03 crore (42.09%) and Toll Plaza Management contributed Rs 273.99 crore (57.08%) in the six months ended September 30, 2025; Rs 369.56 crore (41.38%) and Rs 501.43 crore (56.14%) in FY25; Rs 262.54 crore (51.45%) and Rs 241.81 crore (47.38%) in FY24; and Rs 215.73 crore (84.41%) and Rs 33.33 crore (13.04%) in FY23, respectively, representing a substantial portion of total revenue. Any demand reduction, failure to renew or secure contracts, increased competition, or termination of contracts in these segments may adversely impact the company's results of operations and financial condition.

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About Innovision IPO

IPO Details

Innovision IPO Details and Specifications
IPO Date	10 Mar 2026 to 17 Mar 2026
Face Value	₹10 Per Share
Price Band	₹494.00 - ₹519.00
Lot Size	27 Shares
Total Issue Size	Approx 319.00 Cr 61,51,294 Equity Shares
Fresh Issue	Approx 255.00 Cr 49,13,294 Equity Shares
Offer for Sale	Approx 64.00 Cr 12,38,000 Equity Shares
Retail Portion	65%
Sale Type	Offer for sale
Issue Type	Bookbuilding IPO
Listing Date	23 Mar 2026
Listing At	BSE & NSE
Total Subscription Amount	₹1,103.94 Cr

Investor Category

Shares Offered

% Net Issue

QIB

TBA

0.00%

- QIB (Ex. Anchor)

61,512

1.00%

NII

20,91,440

34.00%

- bNII > ₹10L

13,94,294

22.67%

- sNII < ₹10L

6,97,146

11.33%

Retail

39,98,342

65.00%

Total

61,51,294

100.00%

Application

Lots

Amount

Individual investors (Retail) (Min)

₹14,013

Individual investors (Retail) (Max)

378

₹1,96,182

S-HNI (Min)

405

₹2,10,195

S-HNI (Max)

1,917

₹9,94,923

B-HNI (Min)

1,944

₹10,08,936

About Company

Contact Details

Innovision Ltd.

1/209, First Floor,

Sadar Bazar,

Delhi Cantt,

Delhi, New Delhi, 110010

+91 011 208 9790

cs@innovision.co.in

Visit Website

Date & Time

GMP (₹)

Est. Listing Price

Est. Gain (%)

Est. Profit / Lot (₹)

23-Mar-2026 12:00 PM

+₹0

₹519

+0.00%

₹0

22-Mar-2026 12:00 PM

+₹0

₹519

+0.00%

₹0

21-Mar-2026 12:00 PM

+₹0

₹519

+0.00%

₹0

20-Mar-2026 12:00 PM

+₹0

₹519

+0.00%

₹0

19-Mar-2026 12:00 PM

+₹0

₹519

+0.00%

₹0

18-Mar-2026 12:00 PM

+₹0

₹519

+0.00%

₹0

17-Mar-2026 12:00 PM

₹-3

₹516

-0.58%

₹-81

16-Mar-2026 12:00 PM

+₹19

₹538

+3.66%

₹513

14-Mar-2026 12:00 PM

+₹7

₹526

+1.35%

₹189

13-Mar-2026 12:00 PM

+₹4

₹523

+0.77%

₹108

12-Mar-2026 07:00 AM

+₹71

₹590

+13.68%

₹1,917

11-Mar-2026 12:00 PM

+₹60

₹579

+11.56%

₹1,620

10-Mar-2026 07:00 AM

+₹0

₹519

+0.00%

₹0

09-Mar-2026 07:00 AM

+₹0

₹519

+0.00%

₹0

07-Mar-2026 08:00 AM

+₹0

₹519

+0.00%

₹0

06-Mar-2026 06:00 AM

+₹0

₹519

+0.00%

₹0

05-Mar-2026 07:00 AM

+₹0

₹519

+0.00%

₹0

Innovision IPO Details

About Innovision IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Innovision IPO open and close?

What is Innovision IPO price band?

What is the Innovision IPO lot size?

What is the Innovision IPO allotment date?

What is the Innovision IPO listing date?

What is the minimum investment required in Innovision IPO?

Join the discussion

Innovision IPO Details

About Innovision IPO

IPO Details

Issue Reservation

IPO Lot Size

About Company

Day-wise GMP Trend

Objects of the Issue

Company Financials

IPO Valuation - KPI

Peer Comparison

Promoters and Holding Pattern

Strengths

Risks

Frequently Asked Questions (FAQ)

When does the Innovision IPO open and close?

What is Innovision IPO price band?

What is the Innovision IPO lot size?

What is the Innovision IPO allotment date?

What is the Innovision IPO listing date?

What is the minimum investment required in Innovision IPO?

Join the discussion