Innovision IPO price band: The Innovision Limited IPO price band has been fixed in the range of ₹521 ₹548 per equity share of the face value of ₹10. The Innovision IPO date of subscription is scheduled for Tuesday, March 10 and will close on Thursday, March 12. The allocation to anchor investors for the Innovision IPO is scheduled to take place on Monday, March 9. The Innovision IPO lot size is 27 equity shares and in multiples of 27 equity shares thereafter.
Innovision IPO has reserved not more than 1% of the shares in the public issue for qualified institutional buyers (QIB), not less than 34% for non-institutional Institutional Investors (NII), and not less than 65% of the offer is reserved for retail investors.
Tentatively, Innovision IPO basis of allotment of shares will be finalized on Friday, March 13 and the company will initiate refunds on Monday, March 16, while the shares will be credited to the demat account of allottees on the same day following refund. Innovision share price is likely to be listed on BSE and NSE on Tuesday, March 17.
Innovision IPO details
At the upper end of the price band, Innovision intends to raise ₹322.84 crore, which includes a fresh issue amounting to ₹255 crore and an offer-for-sale of 12.38 lakh equity shares.
Of the proceeds from the fresh issue, ₹51 crore will be allocated to repay specific borrowings, ₹Rs 119 crore will be directed towards working capital needs, and the remaining funds will be used for general corporate purposes.
Emkay Global Financial Services is serving as the book-running lead manager for the issue, while Kfin Technologies acts as the registrar.
