SEBI granted approval for the Innovatiview India Ltd IPO on August 14, 2025. The company will move forward with the remaining steps to launch the public offer, depending on market conditions and other required clearances. The SEBI approval remains valid for 12 months.
The Innovatiview India Ltd IPO is a book-built issue of ₹2,000 crore, comprising an offer for sale in full.
The company’s equity shares are proposed to be listed on both NSE and BSE. Dam Capital Advisors Ltd will act as the book-running lead manager, while MUFG Intime India Pvt Ltd will serve as the registrar.
Details such as IPO dates, price band, and lot size are yet to be announced. Refer to Innovatiview IPO DRHP for complete details.
Innovatiview IPO Objectives
The company will not receive any funds from the Offer. Instead, the proceeds will go to the Promoter Selling Shareholders, in proportion to the shares they sell in the Offer, after deducting their share of offer-related expenses and applicable taxes.
About Innovatiview Limited
Innovatiview Limited is a technology-driven company that delivers automated ancillary security and surveillance solutions for examinations, elections, and large-scale events across India. As of September 30, 2024, the company is the largest provider of examination-integrated security solutions in India, holding a 73.7% revenue market share for Fiscal 2024 .
Its comprehensive examination integrated security offerings include CCTV surveillance, biometric control, physical security systems such as frisking, VoIP communication systems, GPS tracking, and dedicated examination infrastructure. Innovatiview Limited is among the first companies in India to introduce and integrate artificial intelligence (AI) in CCTV surveillance and touchless biometric verification systems to combat impersonation in examinations.
In the six months ended September 30, 2024, the company served more than 72 clients through its wide range of security and surveillance solutions and managed over 1,409 examinations nationwide. Its services also extend to providing security and surveillance solutions for elections and major events. Additionally, the company offers information technology (IT) equipment rental services.
Innovatiview Limited’s service portfolio includes end-to-end system integration solutions across various business verticals, with a strong emphasis on enhancing security, surveillance, and information systems.
Industry Outlook
- India’s security and surveillance market is projected to reach $13.32 billion by 2033, driven by rising demand across public and private sectors.
- The examination security market is expected to grow at a 2.7% CAGR, while the events security market is set to expand at 3.9% CAGR between FY24 and FY29.
- Increased adoption of AI, ML, and smart surveillance tools, supported by government initiatives for enhanced safety and transparency, is reshaping the industry’s future.
How To Apply for the Innovatiview IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Innovatiview IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Innovatiview IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Innovatiview Limited
Registered office: Plot No. A-82, Block -A Naraina Industrial Area Phase 1, Landmark Jumma Park, South West Delhi 110 028, Delhi, India.
Phone: +9195609 11131
Email: compliance@innovatiview.com
Innovatiview IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50.00% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15.00% of the Net Issue |
Innovatiview IPO Promoter Holding
The Promoters of the company are Ashish Mittal, Ankit Agarwal, Vishal Mittal and Abhishek Agarwal.
| Share Holding Pre-Issue | 100% |
| Share Holding Post Issue  | - |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Innovatiview IPO
| KPI | Value (FY24) |
| RoCE (%) | 58.94 |
| RoE (%) | 52.82 |
| PAT Margin (%) | 30.41 |
| EBITDA Margin (%) | 48.90 |
Innovatiview IPO Registrar and Lead Managers
Innovatiview IPO Lead Managers
- Dam Capital Advisors Ltd
- ICICI Securities Ltd
- JM Financial Ltd
- Motilal Oswal Investment Advisors Ltd
- Shannon Advisors Pvt Ltd
Registrar for Innovatiview IPO
MUFG Intime India Pvt Ltd
- Phone: +91-22-4918 6270
- Email: ipo@linkintime.co.in
Financial Performance of Innovatiview Limited
| Metrics | 6M Ended Sept 30, 2024 | FY 2024 | FY 2023 | FY 2022 |
| Revenue from Operations (₹ million) | 4,849.22 | 6,380.52 | 3,807.27 | 2,382.08 |
| Profit After Tax (₹ million) | 1,310.06 | 1,967.19 | 1,145.57 | 561.75 |
| EBITDA (₹ million) | 2,195.96 | 3,119.90 | 1,909.34 | 875.66 |
| Net Worth (₹ million) | 5,006.35 | 3,697.91 | 1,719.95 | 620.05 |
| Net Debt (₹ million) | 1,980.40 | 467.88 | 805.91 | 289.33 |
Strengths and Opportunities of Innovatiview Limited
- Innovatiview Limited is the largest player in India’s examination security segment with a 73.7% market share and strong 69.07% YoY growth.
- The company offers a diversified security portfolio spanning examinations, elections, large events, and intelligence systems.
- Advanced use of AI, ML, and cloud technologies enhances accuracy, automation, and cost efficiency for clients.
- Its scalable ‘pay-per-use’ model reduces fixed costs for clients and allows rapid expansion based on demand.
- The company has delivered financial performance, with revenue and PAT growing at CAGRs of 64.61% and 87.13%.
Risks and Threats of Innovatiview Limited
- Heavy dependence on key clients makes the company vulnerable to revenue concentration and contract non-renewal.
- Future growth relies on successfully winning new bids and securing large-scale contracts in a competitive market.
- Demand for examination security solutions may fluctuate due to regulatory changes or shifts in examination patterns.
- Maintaining a reliable vendor network is essential, and disruptions could impact service quality and delivery timelines.
- The company faces exposure to service-related claims, operational losses, and potential employee-related disruptions.
