Innovision IPO
UPCOMINGMAINBOARDDRHP Filed
Awaiting issue details
Revenue (FY25)
₹893.13 Cr
PAT (FY25)
₹29.02 Cr
Analysis
6 strengths · 6 risks
- Price Band
- TBA
- Lot Size
- TBA
- Lot Value
- TBA
- Open Date
- TBA
- Close Date
- TBA
IPO Timeline
Issue Opens
TBA
Issue Closes
TBA
Allotment
TBA
Listing
TBA
About Innovision
Integrated business services company providing manned private security services, integrated facility management (IFM) services, manpower sourcing and payroll services, toll plaza management operations, and skill development training. As of January 15, 2026, the company serves more than 180 clients across various sectors at over 1,000 client premises.
Revenue generated from providing manpower services (including security and facility management), toll plaza user fee collection services, and skill development training programs for government schemes.
Investment Analysis
Quick Analysis: 6 strengths · 6 risk factors· Exchange: NSE, BSE
Strengths (6)
- •Wide geographical presence across 39 offices in 23 states and 5 union territories
- •Diverse manpower services including security, IFM, and payroll solutions
- •Established systems and processes enabling scalable business model
- •Experienced management and operational team with domain expertise
- •Strong recruitment capability and knowledge of labour regulations
- •Economies of scale through office infrastructure providing cost-effective solutions
Risk Factors (6)
- •Debarment notices from clients may prevent future contract participation and significantly limit business opportunities
- •Company is first public issue with no formal market history for share price determination post-listing
- •Strict performance standards and contractual obligations may result in seizure of earnest money deposits
- •No assurance of active sustained trading or price stability after listing on stock exchanges
- •Significant accounting differences between Ind AS and US GAAP/IFRS may impact financial data interpretation
- •Industry and market data commissioned by company from CARE Report involves inherent risks and assumptions
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
ANALYSIS PENDINGRating will be available once IPO opens for subscription.
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
IPO Details
| Registrar | KFin Technologies Ltd. |
| Exchange | NSE, BSE |
| ISIN | — |
| Face Value | — |
| Issue Size | ₹322.84 Cr |
| Fresh Issue | ₹25.50 Cr |
| OFS Size | — |
| Lead Managers | Emkay Global Financial Services |
Company Fundamentals
9 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | — |
| Paid-up Capital | ₹1.89 Cr |
| Equity Shares (Pre-Issue) | — |
| Equity Shares (Post-Issue) | — |
Source: Innovision offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Innovision's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Innovision's filing.
Source: Innovision offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+1.00%
- NII / HNI+34.00%
- Retail+65.00%
OFS Selling Shareholders
- Lt Col Randeep Hundal6,19,000 sh
- Uday Pal Singh6,19,000 sh
Source: Innovision offer document (DRHP/RHP).
Board & Management
Board of Directors (5)
- Lt Col Randeep Hundal₹0.06 Cr p.a.
Chairman and Managing Director
Director since 2007, Managing Director from 2024-2029
- Uday Pal Singh
Whole Time Director
- Sulekha Sharma
Non-Executive Independent Director
M.A. in Broadcast Journalism and Personal Management from Symbiosis University, Pune
15+ years in media and mass communication, previously with UTV Entertainment Television Ltd., NDTV, Zee Unimedia Limited, Bennett Coleman and Co. Ltd.
- Capt Pawan Kumar (Retd)
Non-Executive Independent Director
Bachelor's degree in economics from Maharshi Dayanand University, Rohtak; training in Disaster Management from MDI
Experience in security services and disaster management, previously with Netflix, Reliance Retail, Amazon, and Indian Army
- Sudha Hooda
Non-Executive Independent Director
Bachelor's degree in Law from Delhi University
Experience in Corporate Counsel sector, providing legal guidance in financial agreements
Key Managerial Personnel (3)
- Uday Pal Singh
Chief Executive Officer
- Bijender
Chief Financial Officer
- Jyoti Sachdeva
Company Secretary
Source: Innovision offer document (DRHP/RHP).
Industry & Market
Industry & market data not disclosed in this filing.Market-size/industry detail was not extracted from Innovision's filing.
Use of IPO Proceeds
Total allocation: ₹170.00 Cr (excludes issue expenses)
Promoters
Lt Col Randeep Hundal
Chairman and Managing Director · age 49
Pre-issue: 49.99%
Uday Pal Singh
Whole Time Director and Chief Executive Officer · age 48
Pre-issue: 49.99%
Investor Quota
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Innovision Limited | — | 15.62 | 27.94 | 54.14 |
| Krystal Integrated Services Limited | 8.62 | — | — | 331.86 |
| Updater Services Limited | — | — | — | 149.12 |
| SIS Limited | 401.85 | — | — | 177.63 |
| Quess Corp Limited | — | — | — | 74.6 |
| Highway Infrastructure Limited | — | — | — | 29.36 |
Material Litigation
Innovision Limited was debarred by NHAI for one year (order dated July 25, 2025) for alleged unauthorized fee collection at Paschim Madati Fee Plaza, but obtained a stay from Delhi High Court on September 12, 2025, with the matter pending final disposal on January 27, 2026; bank guarantee of ₹37.13 million and security deposit of ₹33.63 million remain under hold pending outcome. Additionally, the Company faces 81 statutory/regulatory proceedings (including 78 labour cases) with aggregate amount of ₹5.72 million involved against it, and has initiated arbitration against Punjab State Warehousing Corporation for non-payment of ₹10.78 million.
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:KFin Technologies Ltd.→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 893.13 | 29.02 | 15.62 | — | 35.45% |
| FY24 | 510.33 | 10.27 | — | — | — |
| FY23 | 255.57 | 8.88 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| EBITDA | 16.36 | 19.66 | 51.75 |
| Net Worth | 40.26 | 52.35 | 81.88 |
| Total Borrowings | 33.34 | 48.15 | 79.05 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
—
Price ÷ EPS
EPS (FY25)
₹16
Earnings per share
RoNW
35.45%
Return on net worth
ROCE
—
Not in abridged DRHP
EBITDA margin
5.8%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
GMP Trend
GMP data will appear a few days before the IPO opens.
Subscription Status
Subscription data will appear once bidding begins.
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|---|---|---|
| Milky Mist Dairy Food Limited | 18 Aug 2026 | +17.86% |
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Related IPOs
Documents
Frequently Asked Questions
When is the Innovision IPO opening?
The Innovision IPO dates have not yet been announced. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Innovision IPO?
The price band for the Innovision IPO is not yet announced. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Innovision IPO?
The minimum lot size is TBA shares with a minimum investment of not yet announced. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Innovision IPO today?
Grey Market Premium data for Innovision is not available yet. It typically starts appearing a few days before the IPO opens.
When will the Innovision IPO list on NSE and BSE?
The listing date for the Innovision IPO has not been announced yet. It is typically 5 to 6 working days after the subscription closes.
How can I check the Innovision IPO allotment status?
The registrar for this IPO is KFin Technologies Ltd.. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Innovision IPO a mainboard or SME issue?
Innovision is a mainboard IPO that will list on the main NSE and BSE boards. Mainboard IPOs are open to retail investors with a minimum application of one lot.
How do I apply for the Innovision IPO?
You can apply for the Innovision IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA. Use the Apply Now buttons on this page to go directly to the broker.
Should I subscribe to Innovision IPO?
Based on our algorithmic analysis, Innovision IPO is rated UNRATED with low confidence. Rating will be available once subscription and GMP data is collected. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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