Innovision IPO: The initial public offering (IPO) of manpower services provider company Innovision is set to open for public subscription on Tuesday, March 10, and will remain open till Thursday, March 12. Innovision IPO is set at ₹521 to ₹548 per share. Share allotment is expected to be finalised on Friday, March 13, while the stock is proposed to debut on the BSE and the NSE on Tuesday, March 17.
Innovision IPO: 10 key things from RHP
The IPO will open next week. Here are the 10 key things that investors should know about the issue from the RHP:
1. Innovision IPO details
The book build issue combines a fresh issue of nearly 47 lakh shares to raise ₹255 crore and an offer for sale (OFS) of 12.4 lakh shares aggregating to ₹67.84 crore.
2. Innovision IPO book-running lead managers and registrar
Emkay Global Financial Services Ltd. is the book-running lead manager, while KFin Technologies is the registrar of the Innovision IPO.
3. Selling shareholders in the OFS
Lt Col Randeep Hundal and Uday Pal Singh are the promoters selling shareholders in the OFS.
4. Objects of the offer
The company intends to utilise the net proceeds from the fresh issue of shares for the payment of certain borrowings, funding of working capital requirements, and general corporate purposes.
5. Innovision business
The company provides manpower services, toll plaza management and skill development training to our clients across India. As of January 15, 2026, it has operations in 23 states and 5 union territories.
6. Innovision’s financial performance
The company’s profit in FY23 was nearly ₹9 crore, which rose to ₹10.3 crore in FY24, and to ₹29 crore in FY25.
Revenue from operations in FY23 was ₹255.56 crore, in FY24 ₹510.3 crore, and in FY25 it was ₹893.1 crore.
7. Innovision’s promoters
Lt Col Randeep Hundal and Uday Pal Singh are the promoters of the company.
Lt Col Randeep Hundal, 49, is also the Chairman and Managing Director of the company, while Uday Pal Singh, 48, is the Whole Time Director and Chief Executive Officer of the company.
8. Innovision’s peers
Innovision Limited, Krystal Integrated Services Limited, Updater Services Limited, SIS Limited, Quess Corp Limited, and Highway Infrastructure Ltd are some of the company’s listed industry peers.
9. Security services industry outlook
According to the RHP, the Indian security services (manned security) market was valued at ₹547 billion in 2019 and reached ₹988 billion by 2024, representing a CAGR of 12.6% from 2019 to 2024. Furthermore, the market is projected to reach ₹1,716 billion by 2029, growing at a CAGR of 11.5% from 2023 to 2029.
10. Manpower-intensive business is a key risk
The company’s businesses are manpower intensive, and its inability to attract and retain skilled manpower could have an adverse impact on the company’s growth, business and financial condition.
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