Innovision Ltd. is set to launch its initial public offering (IPO) to raise over Rs 320 crore from the primary market. The company offers manpower services to its clients. Ahead of its listing, the grey market premium (GMP) indicated a flat listing for the issue. Investors who want to bid for shares in the IPO must check the following details before making an investment call.
Innovision IPO GMP Today
According to InvestorGain, the GMP for the Innovision IPO was nil as of 9:30 a.m. on March 9. It indicates a flat listing for the offer.
Note: GMP does not represent official data and is based on speculation.
Innovision IPO: Key Details
The Innovision IPO is a book-built issue of Rs 322.84 crore. It comprises a fresh issue of 47 lakh shares worth Rs 255 crore and an offer-for-sale (OFS) of 12 lakh shares amounting to Rs 67.84 crore.
To participate in the IPO, retail investors need to bid for a single lot size of 27 shares, requiring an investment of Rs 14,796. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,07,144. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 68 lots. It will lead to an investment of Rs 10,06,128.
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The price band for the IPO is set between Rs 521 and Rs 548 per share.
The subscription window will be open from March 10 to March 12, with the allotment expected to be finalised on March 13. The company will transfer shares to the demat accounts of successful bidders on March 16 and refunds for non-allottees will be done on the same day.
The shares of the company are scheduled to list on the BSE and NSE on March 17.
Qualified Institutional Buyers (QIBs) will be offered a maximum of 1% of the offer. Retail investors will be allocated a minimum of 65% of the issue and at least 34% will be reserved for Non-Institutional Investors.
Emkay Global Financial Services Ltd. is the book-running lead manager and KFin Technologies Ltd. is the registrar of the issue.
Use Of Proceeds
The company will use proceeds from the IPO to clear debt, fund working capital requirements and for general corporate purposes.
About Innovision
Innovision is a provider of manpower services. Its expertise lies in managing large-scale toll plaza operations and private security services.
Financials
The company reported a 181.55% year-on-year (YoY) jump in profit after tax to Rs 29 crore in FY25 from Rs 10.3 crore in FY24. Total income grew 75% YoY to Rs 895.95 crore in FY25 from Rs 512.13 crore in FY24.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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