Innovision IPO Day 3 update: Subscription lags at 25%, GMP up 13%

Innovision IPO comprises a fresh issue of 4.7 million equity shares worth up to ₹255 crore and an OFS of 1.2 million shares amounting to ₹67.84 crore

Innovision, a Delhi-based business services company, has received a lacklustre response from investors for its initial public offering (IPO), which opened for public subscription on Tuesday, March 10, 2026. According to data from the National Stock Exchange (NSE), the public issue was subscribed to only 24 per cent as of 12:30 PM on Thursday, March 12. 

 

The three-day subscription window for the IPO closes today. So far, the issue has received bids for 1.46 million shares against 6.13 million shares on offer. Demand has been strongest in the Qualified Institutional Buyers (QIBs) segment, which has been subscribed around 96 per cent. In contrast, non-institutional investors (NIIs) have subscribed 29 per cent of their reserved quota. The portion reserved for retail investors was booked only 20 per cent.  

 

Innovision IPO GMP

However, the muted investor sentiment was not reflected in the grey market. According to sources tracking unofficial market activity, Innovision’s unlisted shares were trading at ₹619 per share, commanding a grey market premium of ₹71, or 13 per cent, over the upper end of the IPO price band of ₹521 to ₹548.

Innovision IPO details

The IPO comprises a fresh issue of 4.7 million equity shares worth up to ₹255 crore and an offer for sale (OFS) of 1.2 million shares amounting to ₹67.84 crore. 

 

The issue is priced in the range of ₹521-548 per share, with a lot size of 27 shares. At the upper end of the price band, retail investors need to invest a minimum of ₹14,796 for one lot, while a maximum application of 27 lots (351 shares) requires ₹1,92,348.

 

Kfin Technologies is the registrar of the issue. Emkay Global Financial Services is the sole book-running lead manager.

Innovision IPO allotment date, listing date

With the issue closing today, the basis of allotment is expected to be finalised on Friday, March 13, 2026. Shares are likely to be credited to successful applicants’ demat accounts by Monday, March 16, 2026. The stock is scheduled to list on the NSE and BSE tentatively on Tuesday, March 17, 2026.

Innovision IPO objectives

According to the red herring prospectus (RHP), the company plans to utilise ₹51 crore from the net fresh issue proceeds for repayment or prepayment of certain borrowings, and ₹119 crore will be used for working capital requirements. The remaining funds will be used for general corporate purposes.