Innovision IPO Day 3: Check subscription details, allotment date and steps

Innovision IPO: The initial share sale of Innovision, which provides manpower and toll plaza management services, will conclude on Thursday, March 12. As of Day 2, the issue was booked 12%, with bids for 7,14,258 shares against 61,32,433 shares on offer, according to the NSE data.

The qualified institutional buyers' (QIBs') part was booked 96%, while non-institutional investors subscribed their quota 19%. The category reserved for retail investors was subscribed 6%.

The initial public offering, with a price band of ₹521 to ₹548 per share, was a fresh issue of ₹255 crore and an offer for sale (OFS) component of ₹67.84 crore by promoters Lt Col Randeep Hundal and Uday Pal Singh. The total issue size is ₹322.84 crore.

The fresh issue proceeds will be used for the repayment of certain borrowings availed by the company, working capital requirements and general corporate purposes.

Innovision offers toll plaza management, manpower services and skill development training in 23 states and five union territories of India. It serves clients across sectors including retail, warehousing, healthcare, logistics and BFSI. Some of its clients include Sequel Logistics, Max Healthcare and Stellar Value Chain.

Innovision IPO allotment and listing date

The basis of allotment of the Innovision IPO is expected to be finalised on March 13. The listing on the stock exchanges will occur on March 17.

How to check Innovision IPO allotment status on NSE

• Go to NSE's allotment page link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select 'Equity & SME IPO bid details'
• Choose 'Innovision Ltd' under the symbol 'INNOVISION'
• Fill in mandatory fields like PAN card details and application number
• Press the 'Submit' button

Steps to check Innovision IPO allotment status on KFin Technologies

• Go to KFin Technologies' allotment website: https://ipostatus.kfintech.com/
• In the ‘Select IPO’ section, pick 'Innovision Ltd'
• Mention any one: Demat account number, IPO application number or PAN
• Click on the ‘Submit’ button

Innovision IPO GMP

The unlisted shares of Innovision, according to investorgain.com and media reports, are trading at ₹619, reflecting a grey market premium (GMP) of 12.96% or ₹71 compared to the upper price band of ₹548.