Innovision Ltd, a manpower services company, has filed draft papers with SEBI to raise funds through an Initial Public Offering (IPO).
The IPO will consist of a fresh issuance of shares worth ₹315 Crore and an Offer For Sale (OFS) of up to 1.181 million equity shares by promoters Randeep Hundal and Uday Pal Singh.
According to the Draft Red Herring Prospectus (DRHP), ₹55 Crore from the fresh issuance will be used to pay off debt, ₹160 Crore will fund the company’s working capital, and a portion will go toward general corporate purposes.
Innovision Ltd specializes in providing manpower services, including manned private security, integrated facility management, manpower sourcing, and payroll management.
The company also manages toll plaza operations, handling user fee collection and related services through competitive bidding, and is empanelled with NHAI for toll collection at various locations.
Innovision offers skill development training in partnership with the central and state governments and provides recruitment, placement consultancy, and visa facilitation services through its wholly-owned subsidiary, Innovision International Pvt Ltd.
As of June 30, 2024, Innovision has served over 200 clients across various sectors at more than 1,500 locations. The company currently operates at six toll plazas located in Uttarakhand, Assam, Uttar Pradesh, and West Bengal.
Innovision’s revenue from operations doubled to ₹510.33 Crore in fiscal 2024 from ₹255.56 Crore in fiscal 2023, with profit after tax increasing by 14% to ₹10.13 Crore in FY24 from ₹8.88 Crore the previous year.
For the three months ended June 30, 2024, the company reported revenue of ₹198.69 Crore and a profit after tax of ₹7.38 Crore. Emkay Global Financial Services is the sole book-running lead manager for the IPO.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
Download The App Now
Follow us on
2024, IIFL Securities Ltd. All Rights Reserved
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
