Innovision plans IPO, files draft papers with a fresh issue of Rs 315 crore

Innovision Ltd., a Hyderabad-based company specializing in manpower services, has taken a significant step toward expanding its operations by filing preliminary papers with the Securities and Exchange Board of India (SEBI) on Tuesday. The company aims to raise substantial funds through an Initial Public Offering (IPO), which will be used for debt repayment, working capital, and general corporate purposes.

IPO Details and Fund Allocation

The proposed IPO comprises a fresh issue worth Rs 315 crore and an offer-for-sale component of 11.81 lakh shares with a face value of Rs 10 each. The draft red herring prospectus reveals that Lt Col Randeep Hundal and Uday Pal Singh, among the promoters, will be selling their shares. The issue is being managed by Emkay Global Financial Services Limited as the sole book-running lead manager, with KFin Technologies Limited serving as the registrar.

The equity shares are set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Of the net proceeds, Rs 55 crore will be allocated for the repayment and pre-payment of borrowings, while Rs 160 crore will be directed towards the company’s working capital needs. The remaining funds will be used for general corporate purposes, strengthening Innovision’s financial position.

Innovision’s Business Portfolio and Market Presence

Innovision Ltd. has diversified its offerings beyond manpower services, venturing into skill development and toll plaza management. The company is currently operating six toll plazas across India and is empaneled with the National Highways Authority of India (NHAI) for toll collection at various locations. In addition to toll management, Innovision plays a crucial role in skill development initiatives, partnering with both Central and State Governments to provide training in various sectors.

Conclusion: With its IPO, Innovision Ltd. aims to not only strengthen its financial health but also fuel its growth in various sectors. The company’s strategic investments in debt repayment and working capital indicate a focus on long-term sustainability and expansion.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.