Innovision Limited, a company engaged in manpower services, toll plaza management, and skill development training, is launching its Initial Public Offering (IPO) on March 10, 2026.

The IPO will remain open for subscription until March 12, 2026, giving investors a three-day window to apply.

The company plans to raise ₹322.84 crore through the IPO, which includes both a fresh issue of shares and an offer for sale (OFS).

After the completion of the IPO process, the company’s shares are expected to list on the BSE and NSE on March 17, 2026, subject to regulatory approvals.

About Innovision Limited

Innovision Limited operates in the manpower services and infrastructure support sector, offering workforce management solutions across India.

The company started operations in 2007, initially providing private security services.

Over the years, it expanded its business operations into several related areas, including:

• Manpower supply and staffing services

• Integrated facility management

• Payroll management

• Toll plaza operations

• Skill development training programs

Through these diversified services, the company provides workforce and operational support solutions to various sectors across the country.

Manpower and Facility Management Services

One of the core segments of the company’s business is manpower services.

These services involve supplying trained personnel to organizations for various operational roles.

The company’s manpower solutions include:

• Manned security services

• Integrated facility management (IFM)

• Payroll management and staffing solutions

Integrated facility management services typically include housekeeping, maintenance, and operational support, helping businesses manage their daily operations efficiently.

Toll Plaza Management Operations

Innovision Limited is also involved in toll plaza management on national highways.

Under this segment, the company handles:

• User fee collection at toll plazas

• Operational management of toll booths

• Staff deployment and monitoring

These services support infrastructure projects where efficient toll collection and traffic management are essential.

The company works with government agencies and infrastructure operators to manage toll operations.

Skill Development and Training Programs

Another important area of Innovision’s operations is skill development training.

The company conducts training programs aimed at enhancing the employability of young people, particularly under government-supported skill development schemes.

These programs typically focus on:

• Vocational training

• Security and facility management skills

• Industry-specific workforce training

Such initiatives help bridge the gap between job seekers and employment opportunities in different sectors.

Innovision IPO Structure

The Innovision IPO is structured as a Book Built Issue, allowing investors to bid within a specified price band.

Key details of the issue include:

• Total IPO Size: ₹322.84 crore

• Fresh Issue: ₹255.00 crore

• Offer for Sale (OFS): ₹67.84 crore

• Total Shares Offered: 0.59 crore shares

In a fresh issue, the company issues new shares and receives the funds raised.

In an offer for sale, existing shareholders sell a portion of their shares to the public.

Innovision IPO Price Band and Valuation

The price band for the Innovision IPO has been set between ₹521 and ₹548 per share.

At the upper price band of ₹548 per share, the company’s market capitalisation after listing is expected to be approximately ₹1,290.72 crore.

The price band allows investors to place bids within the specified range during the subscription period.

IPO Timeline

Investors interested in applying for the Innovision IPO should note the key dates.

• IPO Opening Date: March 10, 2026

• IPO Closing Date: March 12, 2026

• Allotment Finalisation: March 13, 2026 (Expected)

• Listing Date: March 17, 2026 (Tentative)

• Stock Exchanges: BSE and NSE

The exact dates may change slightly depending on regulatory approvals and operational timelines.

Lot Size and Investment Requirements

The Innovision IPO has been structured with a relatively small lot size compared to many SME issues.

• Lot Size: 27 shares

For retail investors, the minimum application is 1 lot (27 shares).

At the upper price band of ₹548, the minimum investment required will be:

• ₹14,796

For High-Net-Worth Individuals (HNIs):

• Minimum Application: 14 lots

• Total Shares: 378

• Minimum Investment: ₹2,07,144

This structure allows retail investors to participate in the IPO with a relatively lower investment compared to many other public offerings.

IPO Management and Registrar

The IPO process involves several intermediaries responsible for managing different aspects of the issue.

• Book Running Lead Manager: Emkay Global Financial Services Limited

• Registrar to the Issue: KFin Technologies Limited

The lead manager oversees the IPO process, including marketing the issue, coordinating with regulators, and determining pricing.

The registrar manages investor applications, allotment of shares, and refunds.

Innovision IPO Grey Market Premium (GMP)

According to current market observations, the Grey Market Premium (GMP) for the Innovision IPO is around ₹0.

The grey market refers to an unofficial market where IPO shares are traded before listing, based purely on demand and supply.

However, investors should note that:

• Grey market trading is unregulated

• No official transactions occur

• GMP does not guarantee listing performance

Therefore, the GMP should be considered only as an informal indicator rather than a reliable measure of future share price performance.

Growing Demand for Workforce and Facility Services

The sectors in which Innovision operates—particularly manpower services and facility management—have seen significant growth in recent years.

Businesses increasingly outsource operational functions such as:

• Security services

• Facility management

• Staffing and payroll administration

Outsourcing helps companies reduce operational complexity and focus on core business activities.

As a result, workforce management companies play a critical role in supporting various industries.

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