Liqvd Digital India IPO: Price Band, Lot Size, Financials & Review
Liqvd Digital India IPO listed on BSE on Wed, 30 Sep 2026. The issue was subscribed 5.08x overall.
- Open Date
- 23 Sep 2026
- Close Date
- 25 Sep 2026
Last updated
- Price band
- ₹51 – ₹54
- Lot size
- 2,000 shares
- Min. investment
- ₹2,16,000
- Issue size
- ₹39.01 Cr
- Last GMP
- 0
- Subscribed
- 🔥 5.08x
Liqvd Digital India IPO details
Liqvd Digital India IPO is a ₹39.01 Cr book-building IPO on the SME segment, listing on BSE. It combines a fresh issue of ₹34.14 Cr (87.52%) with an offer for sale of ₹4.87 Cr (12.48%) by existing shareholders. Only the fresh issue money goes to the company.
The issue was open from Wed, 23 Sep 2026 to Fri, 25 Sep 2026. Allotment was finalised on Mon, 28 Sep 2026, and the shares listed on BSE on Wed, 30 Sep 2026.
The price band is ₹51 to ₹54 per share and the lot size is 2000 shares, so the minimum retail application is ₹2,16,000. Retail investors can apply for up to 2 lots (4,000 shares, ₹2,16,000).
Bigshare Services Pvt Ltd is the registrar, and Indorient Financial Services Ltd is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last Liqvd Digital India IPO GMP before listing was 0 (0.00% against the upper price band of ₹54), implying an estimated listing price of ₹54. Across 10 days of tracking, GMP ranged from 0 (21 Sep) to 0 (21 Sep).
| Last GMP | 0 |
|---|---|
| GMP vs upper band | 0.00% |
| Estimated listing price | ₹54 |
| Highest (21 Sep) | 0 |
| Lowest (21 Sep) | 0 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Liqvd Digital India IPO day-wise GMP.
Subscription
Day-wise subscription →Liqvd Digital India IPO was subscribed 5.08x overall: QIB 1.00x, NII 21.02x and retail 1.43x.
| Category | Subscribed |
|---|---|
| QIB | 1.00x |
| NII | 21.02x |
| └ bNII (above ₹10 lakh) | 27.11x |
| └ sNII (₹2–10 lakh) | 2.33x |
| Retail | 1.43x |
| Total | 5.08x |
Final figures at the close of bidding on 25 Sep 2026. Category-wise bids, application-wise breakup and allotment chances are on the Liqvd Digital India IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Qualified Institutions | 21,62,000 | 28.47% |
| Non-Institutional | 14,64,000 | 19.28% |
| └ BNII | 11,04,000 | 14.54% |
| └ SNII | 3,60,000 | 4.74% |
| Retail Investors | 39,68,000 | 52.25% |
| Total | 75,94,000 | 100.00% |
Liqvd Digital India IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 4,000 | ₹2,16,000 |
| Retail (Max) | 2 | 4,000 | ₹2,16,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,24,000 |
| S-HNI (Max) | 9 | 18,000 | ₹9,72,000 |
| B-HNI (Min) | 10 | 20,000 | ₹10,80,000 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹34.14 Cr (87.52%) with an offer for sale of ₹4.87 Cr (12.48%) by existing shareholders. Only the fresh issue money goes to the company.
At the upper price band of ₹54, the issue is priced at 10.74x pre-issue earnings and 14.96x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Listed peers with positive earnings trade at a median P/E of 11.58x (4 companies).
Promoter holding falls from 79.61% before the issue to 52.95% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹5.03 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 10.74x |
| EPS (post-issue) EPS on the enlarged share capital | ₹3.61 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 14.96x |
| Promoter holding (pre-issue) | 79.61% |
| Promoter holding (post-issue) | 52.95% |
Liqvd Digital India Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹25.03 Cr to ₹60.89 Cr, and profit after tax rose from ₹2.25 Cr to ₹8.03 Cr. The PAT margin for 31 Mar 2026 was 13.19%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 57.83 | 33.33 | 13.83 |
| Total Income | 60.89 | 25.03 | 18.28 |
| Profit After Tax | 8.03 | 2.25 | 1.90 |
| EBITDA | 11.26 | 3.93 | 3.81 |
| Net Worth | 34.19 | 19.39 | 2.10 |
| Reserve & Surplus | 26.22 | 15.64 | -0.90 |
| Total Borrowings | 9.79 | 8.82 | 6.16 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 25.36 | 20.92 | 294.89 |
| ROCE % | 44.05 | 14.09 | 47.39 |
| Debt / Equity | 0.29 | 0.45 | 2.94 |
| RoNW % | 25.36 | 20.92 | 294.89 |
| Pat Margin % | 13.32 | 9.04 | 10.54 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Liqvd Digital India Ltd | 5 | — | 4.39 | 4.39 | 25.36% | 21.45 |
| R K Swamy Limited | 5 | 22.37 | 4.38 | 4.38 | 8.60% | 104.71 |
| Vertoz Limited | 10 | 11.75 | 3.06 | 3.06 | 12.31% | 27.35 |
| AdCounty Media India Ltd | 10 | 8.08 | 9.65 | 9.65 | 27.96% | 47.53 |
| Yaap Digital Limited | 10 | 11.40 | 12.10 | 12.10 | 28.25% | 51.82 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Funding of purchase consideration for acquisition of 23.21% stake in AdLift Marketing Private Limited |
| 2 | Funding capital expenditure to be incurred for establishment of a Full Scale Video Content Production Hub (“Full Scale VCP Hub”) |
| 3 | Funding our incremental working capital requirements |
| 4 | Funding inorganic growth through unidentified acquisitions and general corporate purposes |
About Liqvd Digital India Limited
Founded in 2013, Liqvd Digital India Limited is a full-service digital marketing and media solutions agency specializing in brand building, targeted audience engagement, and revenue growth.
Core Service Offerings
Digital Strategy & Growth: SEO, performance marketing, influencer marketing, and social media management.
Media Services: Integrated digital and offline media planning and buying focused on measurable ROI and maximized reach.
Content & Production: High-impact multimedia creation, including photography, videography, drone shoots, podcasts, animation, and AI-generated content produced via its dedicated Mumbai studio.
Tech & Reputation: Web and app development alongside comprehensive online reputation management (ORM).
Operations & Presence
Domestic Operations: Hubs in Mumbai and Gurgaon, supported by an in-house content production studio in Mumbai.
Global Footprint: Extended reach in the United States via its association with AdLift Inc.
Team Size (As of July 2026): 53 permanent employees at Liqvd Digital and 119 at AdLift Marketing.
Clientèle & Industry Reach Liqvd Digital partners with enterprise corporations, mid-market businesses, and D2C brands across diverse verticals, including FMCG, IT & Communications, Logistics, Financial Services, Healthcare, and Manufacturing. The recent acquisition of AdLift Marketing further strengthens its market capabilities, service depth, and client portfolio.
Promoters
- Mr. Arnab Mitra
- Mr. Ashish Motilal Jalan
- Mr. Vivek Suchanti
- Concept Communication Limited
Contact details
Liqvd Digital India Ltd.
B - 206, Second Avenue
CTS No 17/2A/1 Subhash Nagar,
Village Vyarvail MIDC,
Andheri East, Chakala MIDC,
Mumbai, Maharashtra, 400093
Tel: +91 22 4322 6262
Email: compliance@liqvd.asia
Website: https://liqvd.asia/
Liqvd Digital India IPO FAQs
- What is the Liqvd Digital India IPO price band?
- The Liqvd Digital India IPO price band is ₹51 to ₹54 per share.
- What is the Liqvd Digital India IPO lot size and minimum investment?
- The Liqvd Digital India IPO lot size is 2000 shares. The minimum retail investment is ₹2,16,000 for one lot at the upper price band. Retail investors can apply for up to 2 lots (4,000 shares), costing ₹2,16,000.
- When was Liqvd Digital India IPO open for subscription?
- Liqvd Digital India IPO was open for subscription from Wed, 23 Sep 2026 to Fri, 25 Sep 2026.
- What is the Liqvd Digital India IPO subscription status?
- Liqvd Digital India IPO was subscribed 5.08x overall: QIB 1.00x, NII 21.02x and retail 1.43x. Day-wise and category-wise figures are on the subscription page.
- What was the Liqvd Digital India IPO GMP before listing?
- The last Liqvd Digital India IPO GMP before listing was 0 (0.00% against the upper price band of ₹54), implying an estimated listing price of ₹54. Across 10 days of tracking, GMP ranged from 0 (21 Sep) to 0 (21 Sep). GMP is an unofficial grey market indicator and can change quickly.
- What is the Liqvd Digital India IPO allotment date?
- The Liqvd Digital India IPO basis of allotment was finalised on Mon, 28 Sep 2026. You can check your allotment status on the Bigshare Services Pvt Ltd website.
- What is the Liqvd Digital India IPO listing date?
- Liqvd Digital India IPO listed on BSE on Wed, 30 Sep 2026.
- Is the Liqvd Digital India IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹34.14 Cr (87.52%) with an offer for sale of ₹4.87 Cr (12.48%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the Liqvd Digital India IPO?
- The registrar for the Liqvd Digital India IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Indorient Financial Services Ltd.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.