Liqvd Digital India IPO
LISTEDSMEListing Performance
▼ 0.50%
Issue Price
₹54
Listing Price
₹54
Listed On
30 Sep 2026
- Price Band
- ₹51 – ₹54
- Lot Size
- 2,000
- Lot Value
- ₹1,08,000
- Open Date
- 23 Sep23 Sep 2026
- Close Date
- 25 Sep25 Sep 2026
- Min Investment
- ₹1,08,000
About Liqvd Digital India
Provides digital content, influencer marketing, creative solutions, and media buying services to clients across multiple industry verticals.
Use of IPO Proceeds
Total allocation: ₹26.16 Cr (excludes issue expenses)
Promoters
Mr. Arnab Mitra
Promoter, Chairman and Managing Director · age 44
He has been associated with our Company as a Director since incorporation of the Company.
Pre-issue: 24.33%
Investment Analysis
Quick Analysis: 3 strengths · 6 risk factors· Exchange: BSE SME
Strengths (3)
- •Preferred vendor and digital partner with Concept Communication under long-term agreement.
- •Diversified revenue streams across retainer, media, project, and production business verticals.
- •Focus on expanding client base and diversifying revenue sources to reduce concentration risk.
Risk Factors (6)
- •First public offer with no established market for shares; floor, cap, and offer prices determined through book building may not reflect post-listing trading prices.
- •No assurance of active or sustained trading post-listing or predictability of equity share prices after listing on BSE SME platform.
- •Unaudited proforma consolidated financial information is illustrative only and may not accurately reflect future financial condition and results of operations.
- •Industry data sourced from Ken Research Report commissioned by company; Ken Research lacks independent verification or direct oversight relationship with company.
- •Significant differences between Indian GAAP, IFRS, and U.S. GAAP; company provides no reconciliation; investors must consult advisors on impacts.
- •Investors must rely on own examination of company and offer; SEBI has not recommended, approved, or guaranteed accuracy of prospectus.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 5.07x (QIB 1.00x, NII 21.00x, Retail 1.41x) at close
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (1 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,08,000 |
| Retail (max) | 1 | 2,000 | ₹1,08,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,16,000 |
| S-HNI (max) | 9 | 18,000 | ₹9,72,000 |
| B-HNI (min) | 10 | 20,000 | ₹10,80,000 |
Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1.00x | 1.00x | 1.00x |
| sNII (S-HNI) | — | — | — |
| bNII (B-HNI) | — | — | — |
| Retail | 0.04x | 0.20x | 1.41x |
| Total | 0.98x | 1.23x | 5.07x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
1.41x
Allotment Ratio
1 lot per 2 applicants
Allotment Probability
~70.9%
Non-Institutional Investors (NII / HNI)
Subscription
21.00x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
1.00x
Allotment Type
Discretionary allotment
Total Subscription
5.07x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
23 Sep 2026 · Wed
Issue Closes
25 Sep 2026 · Fri
Bidding Cut-off (UPI Mandate)
25 Sep 2026 · 5:00 PM IST
Allotment
28 Sep 2026 · Mon
Listing
30 Sep 2026 · Wed
Issue Opens
23 Sep 2026 · Wed
Issue Closes
25 Sep 2026 · Fri
Bidding Cut-off (UPI Mandate)
25 Sep 2026 · 5:00 PM IST
Allotment
28 Sep 2026 · Mon
Listing
30 Sep 2026 · Wed
IPO Details
| Registrar | Bigshare Services Private Limited |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹5 |
| Issue Size | ₹39.01 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | — |
3-Year Financial Summary
Revenue trend
↑ FY24→FY26
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY26 | 60.24 | 6.79 | 4.26 | — | 19.87% |
| FY25 | 24.87 | 2.25 | 1.41 | — | 11.59% |
| FY24 | 18.05 | 1.9 | 1.19 | — | 90.76% |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Income | 18.28 | 25.03 | 60.89 |
| EBITDA | 3.81 | 3.93 | 11.26 |
| Net Worth | 2.1 | 19.39 | 34.19 |
| Total Assets | 13.83 | 33.33 | 57.83 |
| Total Borrowings | 6.16 | 8.82 | — |
| Cash Flow — Operating | 1.4 | -0.46 | 1.52 |
| Cash Flow — Investing | 0.04 | -0.55 | -12.65 |
| Cash Flow — Financing | 0.97 | 13.87 | -2.28 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
12.7x
Price ÷ EPS
EPS (FY26)
₹4
Earnings per share
RoNW
19.87%
Return on net worth
ROCE
—
Not in abridged DRHP
EBITDA margin
18.7%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
Check the valuation yourself
Company Fundamentals
12 sections extracted from this filingCapital Structure
| Authorised Capital | — |
| Issued Capital | ₹7970585.00 Cr |
| Paid-up Capital | ₹7970585.00 Cr |
| Equity Shares (Pre-Issue) | 1,59,41,177 |
| Equity Shares (Post-Issue) | — |
| Preference Shares | 0 |
Source: Liqvd Digital India offer document (DRHP/RHP).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Liqvd Digital India's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Liqvd Digital India's filing.
Source: Liqvd Digital India offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Mr. Arnab Mitra9,02,000 sh
Source: Liqvd Digital India offer document (DRHP/RHP).
Board & Management
Board of Directors (6)
- Mr. Arnab Mitra₹1.20 Cr p.a.
Chairman and Managing Director
Founder and promoter of the Company
- Mr. Monish Suresh Sanghavi₹0.36 Cr p.a.
Whole-Time Director
- Mr. Sunil Jagdish Gangras₹0.50 Cr p.a.
Whole-Time Director
- Mr. Ashish Motilal Jalan
Non-Executive Non-Independent Director
- Ms. Anasuya Chaudhuri Ghosh₹0.01 Cr p.a.
Non-Executive Independent Director
- Mr. Satish Inani₹0.00 Cr p.a.
Non-Executive Independent Director
Key Managerial Personnel (2)
- Mr. Kondiram Rajendra Narayankar₹0.06 Cr p.a.
Chief Financial Officer
Bachelor in Commerce from University of Mumbai
more than 9 years of experience in accounts and finance
- Ms. Sonal Dilip Biyani₹0.09 Cr p.a.
Company Secretary and Compliance Officer
Bachelor of Commerce (CBCS) from Shivaji University, Kolhapur; qualified Company Secretary
more than 2 years of experience in handling compliance and secretarial matters
Source: Liqvd Digital India offer document (DRHP/RHP).
Industry & Market
Per Ken Research Analysis, a report commissioned by the company (not independent).
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Liqvd Digital India Limited | — | 4.39 | 25.36 | 21.45 |
| R K Swamy Limited | 22.37 | 4.38 | 8.6 | 104.71 |
| Vertoz Limited | 11.75 | 3.06 | 12.31 | 27.35 |
| AdCounty Media India Limited | 8.08 | 9.65 | 27.96 | 47.53 |
| Yaap Digital Limited | 11.4 | 12.1 | 28.25 | 51.82 |
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Bigshare Services Private Limited→Documents
Frequently Asked Questions
When is the Liqvd Digital India IPO opening?
The Liqvd Digital India IPO opens on 23 Sep 2026 and closes on 25 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Liqvd Digital India IPO?
The price band for the Liqvd Digital India IPO is ₹51 to ₹54. 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 Liqvd Digital India IPO?
The minimum lot size is 2000 shares with a minimum investment of ₹1,08,000. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Liqvd Digital India IPO today?
The latest Grey Market Premium for Liqvd Digital India is ₹0 (+0.00%). GMP is unofficial data and is not a guarantee of listing price.
When will the Liqvd Digital India IPO list on NSE and BSE?
The Liqvd Digital India IPO is expected to list on 30 Sep 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Liqvd Digital India IPO allotment status?
The registrar for this IPO is Bigshare Services Private Limited. 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 Liqvd Digital India IPO a mainboard or SME issue?
Liqvd Digital India is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Liqvd Digital India IPO?
You can apply for the Liqvd Digital India IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of Liqvd Digital India IPO?
The GMP-implied price (unofficial, not a forecast) is ₹54: the upper price band of ₹54 plus the latest grey market premium of ₹0, as of 30 Sep 2026, 11:33 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for Liqvd Digital India IPO?
Based on the retail subscription of 1.41x, the estimated allotment ratio is 1 lot per 2 applicants (approximately 70.9% chance of allotment). This is an estimate and actual allotment may vary.
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