Innovision IPO Update: Price Band Cut to ₹494-519, Subscription Crosses 30%

The Innovision IPO is now approaching its final days, closing on March 17. The company has revised its price band to ₹494–519 per share, down from the earlier range of ₹521–548. This adjustment reflects measured investor response but keeps the issue attractive for retail and institutional buyers alike.

Innovision IPO Overview

Innovision Ltd provides manpower and toll plaza management services, and it aims to raise ₹322.84 crore through the public offering. The total includes a fresh issue of ₹255 crore and an offer-for-sale of 12.38 lakh equity shares.

• Price Band: ₹494–₹519 per share (revised)
• IPO Closing Date: March 17
• Offer Allocation:
  • Retail Investors: ≥65%
  • Non-Institutional Investors (NII): ≥34%
  • Qualified Institutional Buyers (QIBs): ≤1%

Funds from the fresh issue are earmarked for specific purposes:

• ₹51 crore to repay certain borrowings
• ₹119 crore for working capital needs
• Remaining amount for general corporate purposes

The allotment of shares is expected on March 18, with refunds and demat credit for allottees on March 19. Shares are likely to list on BSE and NSE on March 20.

Subscription Status

As of the third day of the IPO:

• Overall Subscription: 30%
• Retail Portion: 27% subscribed
• NII Portion: 35% subscribed
• QIB Portion: 95% subscribed

A total of 19,39,059 bids were received against 63,99,943 shares on offer, indicating steady investor interest across all categories.

Innovision Financial Snapshot

Over the past two years, Innovision has shown impressive growth, driven by expansion in toll plaza management and manpower services:

• Net Revenue FY25: ₹893.1 crore (up from ₹510.3 crore in FY24, +75%)
• EBITDA FY25: ₹48.9 crore (up from ₹17.9 crore, +174%)
• Profit FY25: ₹30.0 crore (up from ₹10.4 crore, +189%)
• EBITDA Margin FY25: 5.5% (up from 3.5%)
• Profit Margin FY25: 3.4% (up from 2.0%)

The numbers reflect a strong growth trajectory, highlighting increased operational efficiency and better utilization of the company’s resources.

Summary

The Innovision IPO continues to attract investors with its revised price band, solid subscription numbers, and robust financial performance. With a clear allotment and listing schedule, the IPO is set to conclude in the coming week, providing a final window for investors to participate in this public offering.