Innovision IPO opens March 10: Should you bid?
What's the story
Innovision, a Haryana-based company specializing in manpower and toll plaza management services, has announced its initial public offering (IPO) price band. The company has set the price range at ₹521-548 per share for its upcoming ₹323 crore IPO. The public issue will open on March 10 and close on March 12. At the upper end of the price band, Innovision's post-listing market capitalization is estimated to be around ₹1,290 crore.
Issue details
Fresh issue and OFS in the proposed IPO
The proposed IPO by Innovision consists of a fresh issue worth ₹255 crore and an offer for sale (OFS) of 12.38 lakh equity shares worth ₹68 crore at the upper end, by promoters Randeep Hundal and Uday Pal Singh. The company plans to use the proceeds from the fresh issuance to pay off debt, meet working capital needs, and cover general corporate expenses.
Company profile
What does Innovision do?
Innovision specializes in manpower services such as manned private security, integrated facility management services, and payroll management. The company's toll plaza management operations include user fee collection at toll plazas through competitive bidding processes. It is also empaneled with NHAI for toll collection at different locations. As of June 30, 2024, Innovision has catered to over 200 clients across industries from more than 1,500 client sites.
Financials
Financial performance of the company
In FY25, Innovision derived 41% of its revenue from manpower services and 56% from toll plaza management. The company posted a profit of ₹29 crore for the fiscal year, up 182.5% from ₹10.3 crore in the previous year. Revenue also rose by a whopping 75% to ₹893.1 crore from ₹510.3 crore in FY24. For the six months ending September 2025, Innovision reported a profit of ₹20 crore on revenue of ₹480 crore.