The initial public offer of Innovision Ltd, a manpower and toll plaza management services provider, received 30 per cent subscription on the second day of bidding on Wednesday. According to National Stock Exchange (NSE) data, the Rs 322.84-crore IPO received bids for 18,21,312 shares, as against 61,32,433 shares on offer. The category for Qualified Institutional Buyers (QIBs) got subscribed 99 per cent. Non-institutional investors’ portion received 35 per cent subscription, and the Retail Individual Investors (RIIs) quota got subscribed 26 per cent. The initial public offer has a fresh issue of up to Rs 255 crore and an offer-for-sale of up to 12,38,000 equity shares.
Innovision IPO Price Band
The price has been fixed in the range of Rs 521-548 per share, valuing the company at nearly Rs 1,300 crore at the higher end.
Innovision IPO GMP today
According to Investorgain, Innovision’s unlisted shares are trading at a grey market premium (GMP) of Rs 3. Considering the upper price band of Rs 548, the company’s shares are expected to list at around Rs 551, reflecting a grey market premium of 0.55 per cent.
According to the company, proceeds from the fresh issuance will be used towards payment of debt, fund the company’s working capital requirements, and for general corporate purposes.
Innovision IPO Listing Date
The share of the company will list on both the NSE and BSE, with the expected date of listing being March 17, 2026.
What does the company do?
The company specialises in providing manpower services, which include manned private security, integrated facility management services, as well as manpower sourcing and payroll management.
The toll plaza management operations involve user fee collection and related services at toll plazas, secured through competitive bidding processes. Additionally, the company is empanelled with NHAI for toll collection at various locations. Innovision also offers skill development training as a partner for the Centre and various state government initiatives.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
