Liqvd Digital India IPO
- Issue price
- ₹54
- Listing price
- ₹53.73
- -0.50%
- Current price
- ₹48.5
- -10.19%
- Subscribed
- 5.08x
- Issue size
- ₹39.01 Cr
- Listed on
- 30 Sep 2026
IPO timeline
- Opens23 SepWed
- Closes25 SepFri
- Allotment28 SepMon
- Refunds29 SepTue
- Demat credit29 SepTue
- Listing30 SepWed
Issue details
- Price band
- ₹51 – ₹54 per share
- Issue size
- ₹39.01 Cr
- Fresh issue
- Not available
- Offer for sale
- Not available
- Issue type
- Fresh capital cum OFS
- Face value
- ₹5 per share
- Lot size
- 2,000 shares
- Minimum investment
- ₹1,08,000
- Listing on
- BSE SME
- Exchange code
- LIQVD.BO · 7989
This issue combines a fresh issue and an offer for sale. The amounts for each part are not available in our data; see the offer document for the split.
Lot size and investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,08,000 |
| Retail (Max) | 1 | 2,000 | ₹1,08,000 |
| HNI (Min) | 2 | 4,000 | ₹2,16,000 |
Reservation
- QIB
- Up to 30% of the Net Offer
- Retail
- Not less than 35% of the Net Offer
- NII
- Not less than 35% of the Net Offer
Allotment status
The allotment for this IPO is final. Check whether you received shares on the registrar's website using your PAN, application number or demat account (DP / Client ID).
Check allotment on Bigshare Services- 1Open the registrar's allotment page and select this IPO from the list.
- 2Enter your PAN, application number or DP / Client ID.
- 3Submit to see the number of shares allotted, if any.
- Basis of allotment
- 28 Sep 2026
- Refunds initiated
- 29 Sep 2026
- Shares credited to demat
- 29 Sep 2026
- Listing
- 30 Sep 2026
Grey market premium (GMP)
- Current GMP
- ₹0
- 0.00%
- Estimated listing price
- ₹54
- Issue price ₹54
- Highest
- ₹0
- 19 Sep
- Lowest
- ₹0
- 19 Sep
GMP by day (₹ per share)
Day-wise GMP table
| Date | GMP | Premium | Est. listing |
|---|---|---|---|
| 30 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 29 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 28 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 27 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 26 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 25 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 24 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 23 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 22 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 21 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 20 Sep 2026 | ₹0 | 0.00% | ₹54 |
| 19 Sep 2026 | ₹0 | 0.00% | ₹54 |
GMP is an unofficial indicator from an unregulated market. It is shown for information only and is not a prediction of the listing price or a recommendation to apply.
Subscription status
- QIB1x
- NII (HNI)21.02x
- Retail1.43x
| Category | Shares offered | Shares bid for | Subscribed |
|---|---|---|---|
| Qualified Institutional Buyers (QIB) | 21,62,000 | 21,62,000 | 1x |
| Non-Institutional Investors (NII) | 14,64,000 | 3,07,70,000 | 21.02x |
| bNII — bids above ₹10 Lakh | 7,22,000 | 2,99,30,000 | 41.45x |
| sNII — bids ₹2 Lakh to ₹10 Lakh | 3,60,000 | 8,40,000 | 2.33x |
| Retail Individual Investors (RII) | 39,68,000 | 56,80,000 | 1.43x |
| Total | 75,94,000 | 3,86,12,000 | 5.08x |
Financials
- P/E Ratio
- 14.96
- EPS (₹)
- 3.61
- RoE
- 25.36%
- RoCE
- 44.05%
- RoNW
- 25.36%
- PAT Margin
- 13.32%
- EBITDA Margin
- 18.69%
- Debt / Equity
- 0.29
- NAV (₹)
- 21.45
Separate pre- and post-issue P/E are not available for this IPO; the P/E shown is as disclosed for the issue.
| Period ended | 31 Mar 2026 |
|---|---|
| Assets | 57.83 |
| Total Income | 60.89 |
| Profit After Tax | 8.03 |
| EBITDA | 11.26 |
| NET Worth | 34.19 |
| Reserves and Surplus | 26.22 |
| Total Borrowing | 9.79 |
Peer comparison
| Company | Issue size | P/E | RoNW | PAT margin | Subscribed | Listing gain |
|---|---|---|---|---|---|---|
| Liqvd Digital India This IPO | ₹39.01 Cr | 14.96 | 25.36% | 13.32% | 5.08x | -0.50% |
| Propshop Events & Exhibitions SME · listed 3 Aug 2026 | ₹28.56 Cr | 14.32 | 55.86% | 12.27% | 1.5x | — |
| Simca Advertising SME · listed 15 May 2026 | ₹58.04 Cr | 15.39 | 57.44% | 13.31% | 80.93x | — |
| Yaap Digital SME · listed 5 Mar 2026 | ₹80.11 Cr | 24.73 | 53.63% | 7.82% | 4.33x | -12.41% |
| Century Business Media SME · listed 21 Sep 2026 | ₹17.11 Cr | — | 37.74% | 12.84% | 53.92x | 0.00% |
| Optimystix Entertainment India SME · listed 14 Aug 2026 | ₹108.5 Cr | 16.94 | 17.74% | 13.84% | 1.91x | — |
| Value 360 Communications SME · listed 11 May 2026 | — | 17.25 | 23.01% | 10.58% | 1.25x | -20.00% |
Peers are other recent IPOs from the same industry, closest in issue size. Ratios are as disclosed at the time of each issue. This is not the listed-peer table from the offer document.
About Liqvd Digital India
Liqvd Digital India Limited was started in 2013. It is a digital marketing and media company that helps brands build an online presence, reach the right audience and grow. Its services cover social media management, media planning and buying, online reputation management, creative content production, influencer marketing, search engine optimisation, performance marketing, and web and app development. Its clients range from large enterprises to mid-sized companies and direct-to-consumer brands, across IT and communications, FMCG, logistics, financial services, manufacturing and healthcare. The media side of the business plans and buys both digital and offline media, with the emphasis on measurable results and return on investment. The production side makes visual and multimedia content, including photography, video shoots, drone shoots, podcasts, animation and AI-generated content. It works from offices in Mumbai and Gurgaon and runs its own studio in Mumbai for content production. Through its association with AdLift Inc. it also has a presence in the United States.
Strengths
- The margin is healthy for an agency, with a PAT margin of 13.32% and an EBITDA margin of 18.69% in FY2026.
- Return on capital employed was 44.05%, which is high because an agency needs little fixed capital.
- Debt is low at Rs 9.79 crore against a net worth of Rs 34.19 crore, a debt to equity ratio of only 0.29.
- The service range is wide, covering social media, media buying, SEO, performance marketing, influencer work, content production and web and app development, so a client can be served end to end.
- It has its own studio in Mumbai for photography, video, drone shoots, podcasts and animation rather than outsourcing production.
- Its clients span many sectors including FMCG, logistics, financial services, manufacturing and healthcare, which spreads the risk.
- It has a presence in the United States through its association with AdLift Inc.
- It has been in this business since 2013, which is a reasonable record in a field where agencies come and go.
Risks
- Only one year of financial data is available, for FY2026. With no earlier years there is no trend to judge, and no way to tell whether this year is representative.
- The issue is priced at about 14.96 times earnings on an EPS of Rs 3.61, and that EPS rests on a single year of reported financials.
- Promoter holding falls from 79.61% to 52.95% after the issue, leaving the promoters only just above a half share.
- Digital marketing is a people business with low switching costs. Clients move agencies readily and contracts are rarely long.
- Agency revenue is usually concentrated in a handful of large accounts, so losing one client can matter a great deal.
- A part of the money goes towards buying a stake in AdLift Marketing Private Limited. The terms and what the company gets for it are not visible from the data available here.
- Media buying revenue can be lumpy, as it depends on client campaign budgets that are set season by season.
- This is an SME issue, and SME shares usually trade in low volume after listing.
Objects of the issue
- Funding of purchase consideration for acquisition of stake in AdLift Marketing Pvt.Ltd.₹9 Cr
- Funding capital expenditure to be incurred for establishment of a Full Scale Video Content Production Hub₹10.59 Cr
- Funding incremental working capital requirements₹6.57 Cr
Promoters and shareholding
Arnab Mitra, Ashish Motilal Jalan, Vivek Suchanti and Concept Communication Ltd
- Promoter holding, pre-issue
- 79.61%
- Promoter holding, post-issue
- 52.95%
Registrar, lead managers and documents
Lead manager
Company contact
B - 206, Second Avenue, CTS No 17/2A/1 Subhash Nagar, Village Vyarvail MIDC, Andheri East, Chakala MIDC, Mumbai, Maharashtra, 400093
+91 22 4322 6262
compliance@liqvd.asiaDocuments
Liqvd Digital India IPO: common questions
When does the Liqvd Digital India IPO open and close?
The Liqvd Digital India IPO opens on 23 Sep 2026 and closes on 25 Sep 2026.
What is the price band of the Liqvd Digital India IPO?
The price band is ₹51 – ₹54 per share, with a lot size of 2,000 shares and a minimum investment of ₹1,08,000.
What is the size of the Liqvd Digital India IPO?
The issue size is ₹39.01 Cr (Fresh capital cum OFS).
What is the GMP of the Liqvd Digital India IPO?
The last reported grey market premium is ₹0 per share as of 30 Sep 2026, 08:24 AM IST. GMP is unofficial and changes frequently.
When is the Liqvd Digital India IPO allotment?
The basis of allotment is expected on 28 Sep 2026. Allotment status can be checked with the registrar, Bigshare Services Private Limited.
When will the Liqvd Digital India IPO list?
The shares listed on 30 Sep 2026 on BSE SME.
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