Innovision IPO
Market Sentiment
Market Lot Size
IPO Details
IPO Reservation
Financial Analysis
| Metric | 2023 | 2024 | 2025 | Sep 2025 |
|---|---|---|---|---|
| Revenue | 257.62 | 512.13 | 895.95 | 483.10 |
| Expense | 247.32 | 501.16 | 856.90 | 459.53 |
| Profit (PAT) | 8.88 | 10.27 | 29.02 | 20.00 |
| Total Assets | 108.17 | 157.05 | 220.30 | 271.66 |
| Company | P/E | EPS | Market Cap (Cr) |
|---|---|---|---|
| Krystal Integrated Services Limited | 13.47 | 44.61 | 14 |
| Updater Services Limited | 8.62 | 17.70 | 12 |
| SIS Limited | 401.85 | 0.81 | 0 |
| Quess Corp Limited | 63.37 | 3.07 | 4 |
| Highway Infrastructure Ltd | 15.15 | 3.40 | 19 |
Promoters: Lt Col Randeep Hundal and Uday Pal Singh
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,89,00,000 | 100.00% |
| Promoter Holding Post Issue | 2,35,53,284 | 74.99% |
Company Information
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.
| Purpose | Amount (Cr) |
|---|---|
| Repayment or pre-payment, in part or full of all or certain borrowings availed by the Company | 51.00 |
| Funding working capital requirements of the Company | 119.00 |
| General Corporate Purpose | - |
Resources & Documents
Innovision Ltd., 1/209, First Floor,, Sadar Bazar,, Delhi Cantt,, Delhi, New Delhi, 110010
Innovision has set a price band of Rs 521–Rs 548 per share for an issue size of Rs 323 crore. The stock listed with a 14.65% discount versus its issue price on March 23, 2026.
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.
The issue is promoted by Lt Col Randeep Hundal and Uday Pal Singh with Emkay Global Financial Services Ltd. acting as lead manager. Net proceeds will primarily be used towards Repayment or pre-payment, in part or full of all or certain borrowings availed by the Company (Rs 51 crore) and Funding working capital requirements of the Company (Rs 119 crore).
Grey market is quoting a discount of Rs -90 (-16.4% over issue price), down Rs 90 from the previous session. Final subscription data records overall subscription at 3.32x, retail at 0.58x, QIB at 13.75x, NII at 8.26x.
On fundamentals, the company is posting revenue growth of 75.0%, a profit margin of 3.2%, return on equity of 35.5% in its most recent reported period. Listed peers in this segment include Highway Infrastructure Ltd (P/E 15.15x, market cap Rs 19 crore) and Krystal Integrated Services Limited (P/E 13.47x, market cap Rs 14 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as an Avoid view — key indicators are weak enough that the risk-reward looks unfavourable for now. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Understanding Grey Market Premium (GMP)
The Grey Market Premium (GMP) is an unofficial indicator of how an IPO's shares are trading in the grey market before they are officially listed on a stock exchange. It reflects investor sentiment and demand for the IPO shares ahead of listing day.
How does it work? The grey market is an informal, over-the-counter market where investors buy and sell IPO shares before the official listing date. If an IPO has a positive GMP, it suggests that investors expect the stock to list above its issue price. A negative GMP indicates expectations of a listing below the issue price.
Example: If an IPO has an issue price of ₹100 and the GMP is ₹50, the expected listing price would be approximately ₹150 (issue price + GMP). This translates to an estimated listing gain of 50%.
Factors that influence GMP:
- Subscription levels — Higher subscription typically drives GMP up
- Market conditions — Bullish markets tend to boost GMP across all IPOs
- Company fundamentals — Strong financials and growth potential attract premium
- Industry sentiment — Positive outlook for the sector can increase demand
- IPO pricing — Reasonably priced IPOs relative to peers tend to command higher GMP
Disclaimer: GMP is an unofficial metric from the grey market and is not regulated by SEBI or any stock exchange. GMP values fluctuate frequently and should not be the sole basis for investment decisions. Always consider company fundamentals, financial health, and your own risk appetite before investing in any IPO.
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