Innovatiview India Set for Rs 2,000 Crore IPO

Innovatiview India, a leading tech-driven company, plans a Rs 2,000 crore IPO through an Offer-For-Sale (OFS), with shares sold by its promoters. The firm specializes in security solutions for examinations and is a market leader in India. The listing is slated for BSE and NSE.

Innovatiview India, headquartered in Noida, intends to raise Rs 2,000 crore through an initial public offering (IPO) by filing preliminary papers with the capital markets regulator, Sebi. This IPO is slated as an Offer-For-Sale (OFS) of equity shares by the company's promoters, according to the Draft Red Herring Prospectus (DRHP) submitted on Thursday.

The OFS will see major stakes sold by Ashish Mittal and Ankit Agarwal, each offloading shares worth up to Rs 800 crore. Additionally, Vishal Mittal and Abhishek Agarwal will sell shares amounting to Rs 320 crore and Rs 80 crore respectively. Since the IPO is entirely an OFS, funds will not be directed to the company but will benefit the selling shareholders.

Renowned for its automated security and surveillance solutions, Innovatiview India leads the Indian market in examination security solutions. It leverages AI technology in CCTV surveillance and biometric verification to ensure exam integrity. In FY24, revenue reached Rs 638 crore, up from Rs 381 crore, with a PAT of Rs 196.72 crore. Plans are set to list equity shares on BSE and NSE.

(With inputs from agencies.)