Innovision was incorporated on January 11, 2007. The company provides manpower services, toll plaza management, and skill development training across India, with operations in 23 states and 5 union territories as of January 15, 2026. Established in 2007 with private security services, it has gradually diversified into a comprehensive range of manpower solutions
| Bidding Dates |
|---|
| 10 Mar 2026 - 17 Mar 2026 |
| Subscription |
|---|
| 3.32x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,338 | 1 | 14 | 27 | 5.9 M | ₹494 - ₹519 | 74.99 % | ₹2910.3 M - ₹3057.6 M | RHP DOC |
Innovision IPO SUBSCRIPTION STATUS
17 Mar '26Innovision IPO overall subscription rate was 3.32 times the total available shares
Innovision IPO retail subscription rate was 0.58 times in the retail segment
Innovision IPO non-institutional investor subscription rate was 8.26 times in the non-institutional investor category
Innovision IPO Qualified Institutional Bidder subscription rate was 13.75 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 65% | 34% | 1% |
17 Mar 2026 (Day 6) | 0.58x | 8.26x | 13.75x |
16 Mar 2026 (Day 5) | 0.28x | 2.63x | 12.58x |
13 Mar 2026 (Day 4) | 0.26x | 0.35x | 0.95x |
12 Mar 2026 (Day 3) | 0.28x | 0.36x | 0.99x |
11 Mar 2026 (Day 2) | 0.06x | 0.19x | 0.96x |
10 Mar 2026 (Day 1) | 0.02x | 0x | 0.96x |
Innovision FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| H1FY26 | 480.0 | 20.0 | -16.3 | -17.0 | 6.3% |
| FY25 | 893.1 | 29.0 | -21.9 | -23.2 | 5.8% |
| FY24 | 510.3 | 10.3 | 6.4 | 0.0 | 3.9% |
| FY23 | 255.6 | 8.9 | 3.4 | 1.8 | 6.4% |
Innovision IPO SUBSCRIPTION STATUS DETAILS
Innovision had 5.9 M shares on offer
Innovision IPO offer price was in the range ₹494 - ₹519
Innovision IPO minimum Investment was ₹13338
Innovision IPO issue size was ₹ 2910.3 M - ₹ 3057.6 M
Innovision had a minimum lot size of 27 Shares per application
Innovision NUMBER OF SHARES ON OFFER
Innovision IPO IMPORTANT DATES
| Issue Open Date | 10 Mar 2026 |
| Issue close Date | 17 Mar 2026 |
| Allotment Date | 18 Mar 2026 |
| Refund Date | 20 Mar 2026 |
| Demat Account Credit Date | 20 Mar 2026 |
| Listing Date | 23 Mar 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Innovision Allotment Status | Exchange/ Registrar |
Innovision IPO subscription opened on 10 Mar 2026, and closed on 17 Mar 2026
IPO allotment for Innovision was finalized on Wednesday, 18 Mar 2026
IPO listing for Innovision was on NSE and BSE on Monday, 23 Mar 2026
Innovision IPO LISTING GAINS
| Issue Price (adjusted) | 519.0 |
| Listing Open Price | 467.7 |
| Listing Close Price | 374.2 |
| Listing Gain% | -9.9% |
| Current Gain% | -45.0% |
Innovision Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Innovision Ltd. | 285.2 | 671.7 | 18.5 | 0.8 | 0.7 | 12.6 | 7.8 | 986.6 | 10.1 | 36.9 | 25.9 | 15.4 | 23.9 |
| Sagility Ltd. | 43 | 20139.1 | 20.3 | 0.4 | 2.6 | 9.6 | 7.3 | 7290.8 | 29.6 | 924.8 | 71.5 | 2.1 | 49.2 |
| International Gemological Institute Ltd. | 347.2 | 15004.6 | 24.6 | 1 | 11 | 47.8 | 38.3 | 1661.9 | 52.7 | 711.2 | 66.4 | 14.1 | 24.3 |
| Indiabulls Ltd. | 28.1 | 6548.3 | 15.6 | 0 | 5.9 | 8.9 | 6.6 | 880.8 | 172602 | 273.9 | 501.6 | 1.8 | 739.2 |
| SIS Ltd. | 437.6 | 6182.9 | 42.2 | 0.2 | 0.4 | 5.4 | 1.8 | 16030.1 | 20.9 | 137.8 | 1069.1 | 10.4 | 261.6 |
| eMudhra Ltd. | 525.8 | 4353.8 | 37.8 | 1.5 | 5.8 | 11.8 | 8.9 | 713.2 | 35.1 | 107.8 | 27.4 | 13.9 | 25.5 |
Innovision INFORMATION ON IPO ISSUE
About Innovision
Innovision was incorporated on January 11, 2007. The company provides manpower services, toll plaza management, and skill development training across India, with operations in 23 states and 5 union territories as of January 15, 2026. Established in 2007 with private security services, it has gradually diversified into a comprehensive range of manpower solutions
Object of the Issue
- Repayment or pre-payment, in part or full, of all or certain borrowings availed by the company.
- Funding working capital requirements of the company.
- General corporate purposes.
Innovision - PROMOTERS
| Name |
|---|
| Lt Col Randeep Hundal |
| Uday Pal Singh |
| Sudha Hooda |
Innovision - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Lt Col Randeep Hundal | Chairman & Managing Director |
| Uday Pal Singh | Whole Time Director & CEO |
| Col Gurpal Singh | Whole Time Director |
| Sulekha Sharma | Non-Executive & Independent Director |
| Capt Pawan Kumar | Non-Executive & Independent Director |
Innovision Book running lead manager
Emkay Global Financial Services Limited
innovision.ipo@emkayglobal.com
Innovision Registrar to the issue
KFin Technologies Limited
innovision.ipo@kfintech.com
Innovision Strengths
Wide geographical reach
The company operates 39 offices across India, with a presence in 23 states and 5 union territories, and holds PSARA licenses in multiple regions along with a dedicated security training center. Its widespread network reduces regional dependence, supports multi-location clients, and enables cost-effective, scalable service delivery
Diverse portfolio of manpower services
The company provides comprehensive manpower services across various sectors in India, tailoring solutions to meet specific client requirements. Its diverse service portfolio supports strong client acquisition and retention, while enabling it to adapt to evolving customer needs
Scalable business model
The company has implemented standardized systems for recruitment, training, deployment, and performance monitoring to ensure scalable operations and consistent service quality. It uses data-driven evaluation of employee and office performance to enhance productivity, efficiency, and overall business effectiveness
Innovision Risks
Exposed to service-related claims
The company has a large workforce deployed across workplaces and client premises, consequently it may be exposed to service-related claims and losses or employee disruptions that could have an adverse effect on its reputation, business
Manpower intensive
The company’s operations, including private security and IFM services, are manpower intensive and require hiring a large workforce to support growth. Any inability to attract and retain skilled personnel could adversely impact business expansion and financial performance
Competitive bidding
The company operates in a competitive environment where pricing pressure from clients, statutory payments, and competitive bidding may reduce profit margins and limit price increases. Efforts to control costs while maintaining quality, along with uncertainties in pricing negotiations, could adversely impact financial performance
IPO FAQs
This IPO consists of an offer for sale of up to Rs 64.2 crore, of 1,238,000 shares. It also consists of a fresh issue of Rs 241.5 crore.
The promoters of the company are Lt Col Randeep Hundal, Uday Pal Singh and Sudha Hooda.
The category allocation of qualified institutional buyers is 1.0%, the category allocation of non individual investors or high networth individuals is 34.0% and for retail investors it is 65.0%.
The price band of the IPO is Rs 494.0 - 519.0.
The IPO application opens on Mar 10, 2026 and closes on Mar 17, 2026.
The minimum lot size for the IPO is 27. The maximum lot size for the IPO is 378.
For all category investors, the minimum application amount for this IPO is Rs. 13,338.0, the maximum value for this IPO is Rs 196,182.0.
This IPO will be allotted on Mar 18, 2026.
The refund will be credited to your account on Mar 20, 2026.
The allotted shares will be credited to your demat on Mar 20, 2026.
Innovision Ltd.’s shares listed on the stock exchanges on Mar 23, 2026.