Innovision IPO Overview
Innovision Limited is a Haryana-based manpower services and infrastructure management company that provides services such as private security, facility management, manpower sourcing, and toll plaza operations across India. The company started in 2007 with private security services and later expanded into skill development programs (2014) and toll plaza management (2019).
The company operates in 23 states and 5 union territories, serving 200+ clients across more than 1,500 locations in sectors such as logistics, healthcare, retail, and government departments.
Innovision is launching a mainboard IPO to raise about ₹322.84 crore, which includes a fresh issue of ₹255 crore and an Offer For Sale (OFS) of 12.38 lakh shares by promoters. The IPO will open on 10 March 2026 and close on 12 March 2026.
The price band is ₹521–₹548 per share, and the shares will be listed on BSE and NSE, with the expected listing date around 17 March 2026.
IPO DETAILED INFORMATION
Issue Details
| Parameter | Details |
| IPO Type | Book Built Issue (Mainboard) |
| IPO Open Date | 10 March 2026 |
| IPO Close Date | 12 March 2026 |
| Allotment Date | 13 March 2026 (Expected) |
| Refund Initiation | 14 March 2026 (Expected) |
| Credit to Demat | 14 March 2026 (Expected) |
| Listing Date | 17 March 2026 (Tentative) |
| Price Band | ₹521 – ₹548 per share |
| Face Value | ₹10 per share |
| Lot Size | 27 shares |
| Minimum Investment (Retail) | ₹14,796 |
| Issue Size | ₹322.84 crore |
| Fresh Issue | ₹255 crore |
| Offer For Sale (OFS) | 12.38 lakh shares (~₹68 crore) |
| Total Shares Offered | ~58.9 lakh shares |
| Listing Exchange | BSE & NSE |
Issue Break-up
| Category | Allocation |
| Retail Investors | 65% |
| Non-Institutional Investors (NII) | 34% |
| Qualified Institutional Buyers (QIB) | 1% |
(Allocation structure as per available public issue data)
Selling Shareholders (OFS)
The Offer for Sale portion includes shares sold by the company’s promoters:
- Randeep Hundal
- Uday Pal Singh
The proceeds from the OFS will go directly to the selling shareholders, not the company.
Objects of the Issue (Fund Utilization)
The company plans to use the proceeds from the fresh issue for the following purposes:
- Repayment / prepayment of certain borrowings
- Funding working capital requirements
- General corporate purposes
Reducing debt and strengthening working capital will help the company expand its manpower and infrastructure management operations across India.
Lead Managers & Registrar
- Book Running Lead Manager (BRLM): Emkay Global Financial Services
- Registrar to the Issue: KFin Technologies Limited
Promoters & Management
Promoters of Innovision Ltd:
- Randeep Hundal
- Uday Pal Singh
The management team has experience in security services, manpower management, and infrastructure services, helping the company expand nationwide.
Company Details
Innovision Limited provides a wide range of manpower and infrastructure support services across India.
Key Business Segments
- Manpower Services
- Private security services
- Integrated facility management
- Manpower outsourcing
- Payroll management
- Toll Plaza Management
- User fee collection at toll plazas
- Infrastructure management services
- Projects through government tenders and NHAI empanelment
- Skill Development & Training
- Training programs for youth under government initiatives
- International Recruitment
- Recruitment and visa facilitation services through subsidiary Innovision International Pvt Ltd
The company currently manages multiple toll plazas across India and provides manpower solutions to hundreds of clients across sectors.
Financial Snapshot
| Period | Revenue | Profit After Tax (PAT) |
| FY25 | ₹893.1 crore | ₹29 crore |
| FY24 | ₹510.3 crore | ₹10.3 crore |
Revenue increased by about 75% in FY25, while profit jumped over 180%, showing strong operational growth.
For the six months ended September 2025, the company reported:
- Revenue: ₹480 crore
- Profit: ₹20 crore
Company Strengths
- Diversified Service Portfolio: Innovision operates in multiple service segments such as security services, manpower outsourcing, toll management, and skill development.
- Strong Nationwide Presence: Operations across 23 states and 5 union territories, serving more than 200 clients.
- High Growth in Revenue: The company has reported strong revenue and profit growth in recent years.
- Government & Infrastructure Projects: The company works with government agencies and infrastructure projects, which provide long-term business opportunities.
- Large Client Network: Innovision serves clients across sectors such as retail, logistics, healthcare, BFSI, and government departments.
Key Risks & Challenges
- Dependence on Large Contracts: Revenue may depend on large manpower or toll management contracts.
- High Working Capital Needs: Manpower service businesses require continuous working capital for salaries and operations.
- Competitive Industry: The manpower and facility management sector has many organized and unorganized competitors.
- Regulatory & Government Dependence: Toll plaza management and security services are influenced by government policies and regulations.
- Contract Renewal Risk: If major contracts are not renewed, revenue may decline.
Disclaimer
This document is for educational and informational purposes only. It does not constitute financial or investment advice. Investors should read the Red Herring Prospectus (RHP) and consult a qualified financial advisor before investing in any IPO.
