Innovision Ltd Sets IPO for Public Subscription

Innovision Ltd, a provider of manpower and toll plaza services, has announced its Rs 323-crore IPO, opening on March 10. The company aims to raise funds through a fresh issue and an Offer For Sale. Proceeds will finance debt repayment, working capital, and corporate purposes.

Innovision Ltd, specializing in manpower and toll plaza management services, announced on Thursday that it will open its Rs 323-crore initial share-sale for public subscription starting March 10.

The company has fixed the price range between Rs 521-548 per share, estimating its valuation at approximately Rs 1,300 crore at the higher end. The IPO consists of a fresh issuance of Rs 255 crore and an Offer For Sale (OFS) of 12.38 lakh equity shares, amounting to Rs 68 crore by promoters.

The Haryana-based company is set to finalize the public issue on March 12, with plans to debut on the stock market on March 17. Funds from the fresh issuance will be allocated towards debt payment, working capital needs, and general corporate purposes. Emkay Global Financial Services is the sole book-running lead manager for the issue.

(With inputs from agencies.)