Innovision Limited, a company engaged in 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.

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

Following 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 services sector, offering manpower solutions, infrastructure services, and skill development training programs across India.

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

Over the years, it has expanded its business into multiple service segments, including:

• Manpower services
• Integrated facility management
• Toll plaza management
• Skill development training

This diversification has allowed the company to build a presence across government projects, infrastructure services, and private sector contracts.

Manpower Services Business

The company’s manpower services division forms a major part of its operations.

These services include:

Manned Security Services

Innovision provides trained security personnel for commercial establishments, infrastructure facilities, offices, and other institutions.

Integrated Facility Management (IFM)

The company offers facility management services such as housekeeping, maintenance, and operational support for businesses and organisations.

Payroll Management

Innovision also handles payroll processing and workforce management, allowing client companies to manage employee payments and compliance requirements more efficiently.

These services help organisations outsource non-core operational functions while focusing on their primary business activities.

Toll Plaza Management

Another important segment of the company’s business is toll plaza operations on national highways.

Innovision manages toll plazas where it handles:

• Collection of user fees from vehicles
• Operational management of toll booths
• Staff deployment and traffic flow management

These services are typically provided under contracts awarded by government authorities or infrastructure companies managing highway projects.

Skill Development Programs

Innovision also operates skill development training programs aimed at improving employment opportunities for youth.

The company conducts training under various government-sponsored schemes, focusing on equipping candidates with job-ready skills.

Such programs are designed to:

• Enhance employability of young individuals
• Provide vocational training in multiple sectors
• Support government initiatives for skill development and employment generation

By participating in these programs, the company contributes to workforce development and job creation.

Innovision IPO Structure

The Innovision IPO is being launched as a Book Built Issue.

Key details 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, and other corporate purposes.

The offer for sale portion allows existing shareholders to partially sell their holdings through the public issue.

IPO Price Band and Valuation

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

At the upper price band of ₹548, the company’s post-listing market capitalisation is estimated at approximately ₹1,290.72 crore.

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

IPO Timeline

The key dates related to the Innovision IPO are as follows:

• 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 timelines indicate the expected schedule for subscription, allotment, and listing.

Lot Size and Minimum Investment

The IPO has a relatively smaller lot size requirement compared to SME issues.

• 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 smaller lot size allows retail investors to participate with lower initial investment compared to SME IPOs.

IPO Management and Registrar

The IPO is being managed by several financial intermediaries.

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

The lead manager is responsible for managing the IPO process and coordinating with regulatory authorities, while the registrar handles application processing, share allotment, and investor communication.

Innovision IPO Grey Market Premium

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

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

However, investors should note that:

• Grey market trading is not regulated
• Prices are based purely on demand and supply
• It does not guarantee actual listing performance

Therefore, GMP should be considered only an informal indicator rather than a reliable predictor of listing gains or losses.

Services Sector Growth in India

The services sector in India continues to expand rapidly, driven by increasing demand for outsourcing, infrastructure services, and workforce management solutions.

Companies operating in manpower and facility management services play an important role by:

• Providing trained workforce to businesses
• Supporting infrastructure operations
• Helping companies manage non-core functions

Similarly, toll plaza management is an essential part of highway infrastructure operations, while skill development programs contribute to improving workforce capabilities across the country.

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