Innovision IPO
Market Sentiment
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Final | Final | Day 7 | Final |
|---|---|---|---|---|---|---|
| QIB | 0.96x | 0.96x | 0.95x | 0.95x | 12.58x | 14.93x |
| NII | 0.00x | 0.19x | 0.35x | 0.35x | 2.63x | 8.98x |
| bNII > ₹10L | 0.00x | 0.27x | 0.38x | 0.38x | 3.65x | 10.32x |
| sNII 2-10L | 0.00x | 0.03x | 0.29x | 0.30x | 0.57x | 5.23x |
| Retail | 0.02x | 0.06x | 0.27x | 0.26x | 0.28x | 0.63x |
| Total | 0.02x | 0.12x | 0.30x | 0.30x | 1.20x | 3.61x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| 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 |
Peer Comparison
| Company | EPS | P/E | Market Cap (Cr) |
|---|---|---|---|
| Krystal Integrated Services Limited | 44.61 | 13.47 | 14 |
| Updater Services Limited | 17.70 | 8.62 | 12 |
| SIS Limited | 0.81 | 401.85 | 0 |
| Quess Corp Limited | 3.07 | 63.37 | 4 |
| Highway Infrastructure Ltd | 3.40 | 15.15 | 19 |
Promoters & Holding Pattern
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% |
Strengths & Risks
- Strongly subscribed — 3.6x overall (final).
- Strong institutional (QIB) demand — 14.9x.
- Revenue grew 75% in the latest reported year.
- Strong return on equity — 35%.
- Mostly fresh capital — proceeds fund the company's growth, not an exit.
Our data checks haven't flagged a specific concern for Innovision — but that isn't a clean bill of health. Read the risk-factors section of the RHP, which lists company-specific risks our data can't capture.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Innovision
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.
Company Contact Information
Innovision Ltd., 1/209, First Floor,, Sadar Bazar,, Delhi Cantt,, Delhi, New Delhi, 110010
Objects of the Issue
| 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 IPO - Quick Take
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.
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).
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 is trading.
On our data-signal score, the combined signals for this issue currently read weak — several key indicators are reading below average. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Innovision IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was -16.4%. Of the 15 Mainboard IPOs we have tracked with a final GMP below zero, 2 listed above, 0 flat and 13 below the issue price; Innovision listed 14.7% below its issue price.
See the full Innovision GMP history and trend, or learn how grey market premium works and how reliable it is.
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