Innovision Ltd.
INNOVISIONMainboard
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Overview
Innovision Limited is a diversified service provider operating across India, specializing in manpower solutions, toll plaza management, and skill development. Established in 2007, the company initially focused on manned security services and has since expanded its portfolio to include integrated facility management (IFM), manpower sourcing, and payroll services. It manages user fee collection at national highway toll plazas for clients like NHAI and serves as a training partner for various central and state government skill development schemes. Through its subsidiaries, Innovision Limited is also venturing into emerging sectors such as drone pilot training and international recruitment consultancy.
Opening Date
Mar 10, 2026
Closing Date
Mar 12, 2026
Listing Date
Mar 17, 2026
IPO Type
Mainboard
IPO Status
Open
Issue Size
322.84 Cr
Fresh Issue
255 Cr
Offer for Sale
67.84 Cr
Price Band
₹521 - ₹548
Lot Size
27
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
The main objectives of the issue are to utilize the net proceeds for the following purposes:
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Repayment or pre-payment, in part or full, of all or certain borrowings availed by the company, amounting to ₹51.00 crores, to reduce outstanding indebtedness and improve the debt-equity ratio.
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Funding working capital requirements of ₹119.00 crores to manage extended credit periods for manpower services and meet the security deposit and bank guarantee needs for toll plaza and government contracts.
- •
Financing general corporate purposes, which may include ongoing corporate expenses, capital expenditure for office and IT infrastructure, and providing margin money for bank guarantees, with the amount not exceeding 25% of the Gross Proceeds.
Key Performance Indicator
P/E Ratio
35.69
EPS
15.36
ROE
19.55%
ROCE
18.19%
RONW
19.55%
Debt to Equity Ratio
—
PAT Margin
4.17%
EBITDA Margin
6.34%
P/B
12.65
SWOT Analysis
Strengths
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Wide geographical reach with operations in 23 states and 5 union territories.
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Diverse portfolio of services including manpower, toll management, and skill development, allowing for cross-selling.
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Established systems and processes supported by multiple ISO certifications, enabling a scalable business model.
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Experienced management team led by promoters with over 15 years of industry expertise.
Weaknesses
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History of debarment notices from key clients like NHAI, which could impact future contract eligibility and reputation.
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High working capital requirements due to extended credit periods and the need for large security deposits and bank guarantees.
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Significant dependence on a large workforce, exposing the company to service-related claims, employee disruptions, and high attrition.
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An instance of a promoter using an official credit card for personal expenses, raising potential corporate governance concerns.
Opportunities
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Growing demand for private security in India due to a low police-to-public ratio and increasing urbanization.
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Expansion into the high-growth drone industry, including training and potential manufacturing, a market projected to reach ₹1,940 billion by CY28.
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Increased government spending on highway infrastructure, creating more opportunities in the toll plaza management sector.
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Rising adoption of Integrated Facility Management (IFM) services in corporate India, providing a significant avenue for growth.
Threats
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Heavy dependence on government contracts, especially from NHAI, making revenues vulnerable to policy changes and political factors.
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Intense competition from both organized and unorganized players, along with pricing pressure from clients, which can erode profit margins.
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Technological advancements such as AI-driven surveillance and automation could reduce the demand for traditional manned security services.
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High employee attrition rates common in the security industry, leading to increased recruitment and training costs.
Subscription Rate
Frequently Asked Questions about Innovision Ltd.
Innovision Limited is a diversified service provider operating across India, specializing in manpower solutions, toll plaza management, and skill development. Established in 2007, the company initially focused on manned security services and has since expanded its portfolio to include integrated facility management (IFM), manpower sourcing, and payroll services. It manages user fee collection at national highway toll plazas for clients like NHAI and serves as a training partner for various central and state government skill development schemes. Through its subsidiaries, Innovision Limited is also venturing into emerging sectors such as drone pilot training and international recruitment consultancy.
The Innovision Ltd. IPO is scheduled to open for subscription on Mar 10, 2026 and close on Mar 12, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Innovision Ltd. IPO is ₹521 to ₹548. Investors can place bids within this range once the issue opens.
The minimum lot size for the Innovision Ltd. IPO is 27 shares. The minimum investment amount ₹14,796.
The total issue size of the Innovision Ltd. IPO is approximately ₹322.84. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Innovision Ltd. IPO has been subscribed 0.12 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Innovision Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Innovision Ltd. are expected to list on stock exchanges on Mar 17, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Innovision Ltd. IPO are proposed to be used for The main objectives of the issue are to utilize the net proceeds for the following purposes:, Repayment or pre-payment, in part or full, of all or certain borrowings availed by the company, amounting to ₹51.00 crores, to reduce outstanding indebtedness and improve the debt-equity ratio., Funding working capital requirements of ₹119.00 crores to manage extended credit periods for manpower services and meet the security deposit and bank guarantee needs for toll plaza and government contracts., Financing general corporate purposes, which may include ongoing corporate expenses, capital expenditure for office and IT infrastructure, and providing margin money for bank guarantees, with the amount not exceeding 25% of the Gross Proceeds.
Before applying for the Innovision Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
