Innovision Limited, a company providing manpower services, toll plaza management, and skill development training, has launched its Initial Public Offering (IPO) for investors.

The IPO opened for subscription on March 10, 2026, and will remain open until March 12, 2026.

Through this public issue, the company aims to raise ₹322.84 crore, which includes a fresh issue of shares as well as an offer for sale (OFS).

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

About Innovision Limited

Innovision Limited is engaged in providing manpower services and infrastructure support services across India.

The company began operations in 2007, initially focusing on private security services.

Over time, it expanded its service portfolio to include:

• Integrated facility management services
• Toll plaza management on highways
• Payroll and workforce management
• Skill development and training programs

This diversification has helped the company build a multi-service business model serving both government and private sector clients.

Manpower Services Segment

A major part of Innovision’s business comes from its manpower services division.

These services include:

Manned Security Services

The company provides trained security personnel for corporate offices, industrial facilities, commercial complexes, and other establishments.

Integrated Facility Management (IFM)

Under IFM services, the company offers housekeeping, facility maintenance, and operational support services for businesses.

Payroll Management

Innovision also manages payroll and workforce administration services, helping organisations handle employee payments and compliance requirements.

Toll Plaza Management Operations

Another important segment of Innovision’s business is toll plaza management.

The company manages user fee collection operations at toll plazas located on national highways across India.

These services include:

• Toll fee collection and monitoring
• Traffic management and operational support
• Deployment of toll collection personnel

Toll plaza management contracts are often awarded through competitive bidding processes by government agencies or highway authorities.

Skill Development and Training Programs

Innovision also participates in skill development initiatives aimed at improving employability among youth.

The company runs training programs under various government schemes, which aim to:

• Provide vocational skills to young job seekers
• Improve employment opportunities
• Support national workforce development initiatives

These programs contribute to the company’s role in human resource development and training services.

Innovision IPO Structure

The Innovision IPO is structured as a Book Built Issue.

Key details of the issue include:

• Total Issue Size: ₹322.84 crore
• Fresh Issue: ₹255.00 crore
• Offer for Sale (OFS): ₹67.84 crore

The fresh issue proceeds will be received by the company, which may use the funds for business expansion, working capital requirements, debt repayment, or other corporate purposes.

The offer for sale portion allows existing shareholders to partially exit their investment.

IPO Price Band and Valuation

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

At the upper price band of ₹548, the company’s post-issue market capitalisation is estimated to be around ₹1,290.72 crore.

Investors can place bids within this price range during the subscription period.

IPO Timeline

Important dates related to the Innovision IPO include:

• 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

These dates indicate the expected timeline for investors from subscription to listing.

Lot Size and Minimum Investment

The IPO has a defined lot size requirement for investors.

• Lot Size: 27 shares

Retail investors can apply for a minimum of one lot, which equals 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 shares
• Minimum Investment: ₹2,07,144

This relatively lower investment requirement allows retail investors to participate with a smaller capital commitment compared to SME IPOs.

IPO Management and Registrar

The IPO process is being managed by leading financial institutions.

• Book Running Lead Manager: Emkay Global Financial Services Limited
• Registrar to the Issue: KFin Technologies Limited

The lead manager oversees the IPO process and investor engagement, while the registrar manages application processing, allotment of shares, and investor records.

Innovision IPO Grey Market Premium

The Grey Market Premium (GMP) for the Innovision IPO is currently reported at ₹0.

The grey market refers to an unofficial market where IPO shares are traded before their official listing on stock exchanges.

However, investors should note:

• Grey market trading is unregulated
• Prices are determined by informal demand and supply
• GMP does not guarantee listing performance

Therefore, it should be considered only as an informational indicator rather than a reliable investment signal.

Growth Potential of Manpower and Facility Management Sector

The manpower services and facility management industry in India has been expanding steadily due to increasing demand from businesses and government organisations.

Key growth drivers include:

• Rising demand for outsourced workforce solutions
• Expansion of infrastructure and commercial facilities
• Growth in logistics, manufacturing, and services sectors
• Government initiatives for skill development

Companies offering integrated manpower and operational services may benefit from these long-term industry trends.

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