Innovision Ltd., a manpower services and toll plaza management company, is set to launch its initial public offering (IPO) for public subscription on March 10, 2026. The company has fixed the price band for the issue between ₹521 and ₹548 per equity share, marking an important step as it prepares to enter the Indian stock market. The IPO will remain open for subscription until March 12, giving investors a three-day window to place bids. Following the subscription period, the allotment of shares is expected to be finalised on March 13, while the company’s shares are likely to be listed on the BSE and NSE on March 17.
At the upper end of the price band, the public issue is expected to raise around ₹323 crore and value the company at close to ₹1,300 crore. The IPO is structured as a book-built issue and consists of both a fresh issue of shares and an offer for sale by existing promoters. The offering is expected to draw attention from retail and institutional investors alike, especially as the company operates in sectors such as manpower outsourcing, security services and toll plaza management, areas that have witnessed increasing demand in recent years.
Issue Structure, Price Band and Investment Details:
The IPO consists of an offer for sale (OFS) of 12.38 lakh shares by the founders and a new issue of equity shares valued at ₹255 crore. The OFS component is expected to be valued close to ₹68 crore at the upper end of the price range.Through the offer for sale component, promoters Randeep Hundal and Uday Pal Singh will sell off a portion of their assets.The minimum investment needed at the highest price band would be approximately ₹14,796 because retail investors will be permitted to apply for a minimum of one lot consisting of 27 shares. Additional lots may be applied for by investors in multiples of 27 shares.
In terms of allocation, about 65% of the issue has been reserved for retail investors, while non-institutional investors will receive around 34% of the shares. The remaining portion is reserved for qualified institutional buyers. Emkay Global Financial Services Ltd. is acting as the book-running lead manager for the issue, while Kfin Technologies Ltd. has been appointed as the registrar responsible for processing applications and allotments.
How Innovision Plans To Use The IPO Proceeds:
A major portion of the funds raised through the fresh issue will be used to strengthen the company’s balance sheet and support business operations. Innovision plans to allocate about ₹51 crore towards repayment or pre-payment of certain borrowings, which will help reduce its debt burden. In addition, approximately ₹119 crore will be used to fund the company’s working capital requirements. The remaining amount will be utilised for general corporate purposes, including operational expansion and strategic growth initiatives.
The company currently carries working capital borrowings of over ₹130 crore, and the fresh issue is expected to help ease financial pressure while improving operational flexibility. By raising funds through the public markets, Innovision aims to strengthen its financial position and expand its service offerings across India.
Company Profile and Business Growth:
Innovision Ltd., founded in 2007, provides labor services and facilities management in India. Over time, the company’s services have grown beyond security personnel to include integrated facilities management, workforce procurement, payroll services, and toll plaza administration.The company currently operates through a network of offices that spans 23 states and five union territories. It supports clients from a variety of industries, including retail, logistics, healthcare, storage, and financial services.Innovision has also expanded into skill development and training programs, offering organized training to security professionals and other workforce segments at specialized training centers.
Financially, the corporation has seen substantial expansion in recent years. Revenue increased to around ₹895.95 crore in FY2025 from ₹512.13 crore in FY2024. Profit after tax grew to ₹29.02 crore during the same period, showing improved operational performance. As the IPO date approaches, market participants will closely monitor subscription levels and investor demand. The March 17 listing will ultimately determine how the market assesses the company’s growth potential and position in the rapidly expanding personnel services sector.
