Innovision IPO GMP: How much did Innovision GMP reach, how many were subscribed on the first day; should I invest or not?

News Topical, Digital Desk : Innovision Ltd.'s initial public offering (IPO) opened for investors today, March 10, 2026. The company is looking to raise ₹323 crore from the market through this public issue. If you are considering investing in this IPO, it's important to know the day-one position, the gray market premium (GMP), and expert opinions.

Innovision IPO: Key details and dates

• Price Band: ₹521 to ₹548 per share.
• Lot Size: 27 shares in one lot (minimum investment ₹14,796).
• Total issue size: ₹323 crore (comprising fresh issue of shares worth ₹255 crore and offer for sale worth ₹68 crore).
• Allotment Date: 13 March 2026.
• Listing date: March 17, 2026 (on BSE and NSE).
• This IPO will remain open for bidding till March 12, 2026.

What was the GMP on the first day?

According to market experts, there's currently no significant interest in the company in the gray market. Innovision's GMP remains at ₹0. This means the shares are trading at their upper price band (₹548), and there are currently no signs of any profit on the listing.

What was the subscription status of the IPO?

• Retail portion: 2% subscribed.
• QIB (Institutional Investors): This portion has received 96% bids.
• NII portion: This category has not seen much movement so far.

The IPO has received a total subscription of 2% till 5 pm on the first day.

Invest in this IPO or avoid it?

Market experts are expressing mixed but cautious views on Innovision's fundamentals. According to a Swastika Investmart report, the company's RoNW (Return on Net Worth) is 35.45%, which is significantly better than its peers. However, the P/E ratio of 35.69x suggests that the stock is already overpriced. The company's margins (~5.78% EBITDA) are low, limiting the margin of safety for investors.

SEBI-registered senior analyst Avinash Gorakshakar recommends avoiding this IPO. He says its PE is close to 45 based on the fiscal year 2025 outlook, making it quite expensive. Investing in this IPO could be risky at this time due to its high valuation.

The company's business model is based on manpower and toll services, which is highly competitive. While the company's track record and capital utilization efficiency appear good, the zero GMP and high valuation are concerns.

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