Innovision IPO Subscribed 1.20 Times Amid Valuation and Margin Concerns

Innovision's IPO, priced between Rs 521 and Rs 548 per share, was subscribed 1.20 times with bids for 76.91 lakh shares against 61.32 lakh offered. The Rs 322.84 crore issue includes fresh equity and an offer for sale, with proceeds aimed at debt repayment and working capital. While the company serves over 180 clients in manpower and toll plaza services, some analysts express caution due to slim margins and valuation concerns, suggesting limited margin of safety without clear margin improvement.