New Delhi, 20 March (H.S.): The listing of Innovision Limited, a toll management and manpower services company, has been postponed once more, with fresh equity issuance now expected on BSE and NSE by 23 March 2026. The IPO, initially slated for listing on 17 March, was first deferred to 20 March due to tepid demand and is now being pushed further.
Founded in 1820, the issue first opened on 10 March 2026 with an original closing date of 12 March. However, subscription remained weak, prompting the company to extend the bidding window to 17 March and revise the price band from ₹521–₹548 per share to ₹494–₹519 to attract investors.
The issue size stands at about ₹323 crore, comprising ₹255 crore in fresh equity (46,53,284 shares) and ₹68 crore of Offer‑for‑Sale shares (12,38,000 shares), with 17,38,800 shares reserved mainly for retail investors.Even after the extension and price cut, the IPO logged only 3.46‑time subscription, with the retail segment achieving just around 60% fulfillment, well short of full coverage.
Despite the lukewarm initial response, the company’s financials remain strong, with net profit growing from ₹8.88 crore in FY22–23 to ₹29.02 crore in FY24–25 and ₹20 crore for the half‑year ending 30 September 2025. Revenue similarly rose from ₹257.62 crore in FY22–23 to ₹895.95 crore in FY24–25, with ₹483.10 crore recorded in the first half of the current fiscal.
The company’s debt burden has also increased from ₹33.34 crore in FY22–23 to ₹79.05 crore in FY24–25, reaching ₹112.39 crore by September 2025. Reserves and surplus rose from ₹38.91 crore to ₹62.98 crore, and EBITDA surged from ₹16.36 crore to ₹51.75 crore, with ₹30.42 crore in the latest half‑year, signaling robust operational performance ahead of market entry.
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Hindusthan Samachar / Jun Sarkar
