Liqvd Digital India IPO
Updated 31 Oct 2026, 1:45 pm.
Minimum investment (Individual investors (IND))
₹2,16,000
2 lots · 4,000 shares at the upper price band
Price band
₹54
Latest GMP
₹0
0.0% of the ₹54 upper band
Est. listing price
₹54
Issue size
₹37.04 Cr
Allotment status
Check it on the registrar's page or either exchange with your PAN or application number.
- Allotment finalised28 Sept 2026(done)
- Refunds start29 Sept 2026(done)
- Shares credited to demat29 Sept 2026(done)
- Listing30 Sept 2026(done)
GMP history
Each point is a recorded observation from the scheduled data sync.
| Observed | GMP | Est. listing price |
|---|---|---|
| 30 Sept 2026, 1:50 pm | ₹0 | ₹54 |
| 30 Sept 2026, 1:45 pm | ₹0 | ₹54 |
| 29 Sept 2026, 6:50 pm | ₹0 | ₹54 |
| 29 Sept 2026, 6:45 pm | ₹0 | ₹54 |
| 29 Sept 2026, 1:50 pm | ₹0 | ₹54 |
| 29 Sept 2026, 1:45 pm | ₹0 | ₹54 |
| 29 Sept 2026, 8:50 am | ₹0 | ₹54 |
| 29 Sept 2026, 8:45 am | ₹0 | ₹54 |
| 28 Sept 2026, 6:50 pm | ₹0 | ₹54 |
| 28 Sept 2026, 6:45 pm | ₹0 | ₹54 |
| 28 Sept 2026, 1:50 pm | ₹0 | ₹54 |
| 28 Sept 2026, 1:45 pm | ₹0 | ₹54 |
| 28 Sept 2026, 8:50 am | ₹0 | ₹54 |
| 28 Sept 2026, 8:45 am | ₹0 | ₹54 |
| 26 Sept 2026, 6:50 pm | ₹0 | ₹54 |
| 26 Sept 2026, 6:45 pm | ₹0 | ₹54 |
| 26 Sept 2026, 1:50 pm | ₹0 | ₹54 |
| 26 Sept 2026, 1:45 pm | ₹0 | ₹54 |
| 26 Sept 2026, 8:50 am | ₹3 | ₹57 |
| 26 Sept 2026, 8:45 am | ₹3 | ₹57 |
| 25 Sept 2026, 6:50 pm | ₹3 | ₹57 |
| 25 Sept 2026, 6:45 pm | ₹3 | ₹57 |
| 25 Sept 2026, 1:45 pm | ₹3 | ₹57 |
| 25 Sept 2026, 8:50 am | ₹3 | ₹57 |
| 25 Sept 2026, 8:45 am | ₹3 | ₹57 |
| 24 Sept 2026, 6:50 pm | ₹3 | ₹57 |
| 24 Sept 2026, 6:45 pm | ₹3 | ₹57 |
| 24 Sept 2026, 1:50 pm | ₹3 | ₹57 |
| 24 Sept 2026, 1:45 pm | ₹3 | ₹57 |
| 24 Sept 2026, 8:50 am | ₹3 | ₹57 |
| 24 Sept 2026, 8:45 am | ₹3 | ₹57 |
| 23 Sept 2026, 6:50 pm | ₹3 | ₹57 |
| 23 Sept 2026, 6:45 pm | ₹3 | ₹57 |
| 23 Sept 2026, 1:50 pm | ₹3 | ₹57 |
| 23 Sept 2026, 1:45 pm | ₹3 | ₹57 |
| 23 Sept 2026, 8:50 am | ₹0 | ₹54 |
| 23 Sept 2026, 8:45 am | ₹0 | ₹54 |
| 22 Sept 2026, 6:50 pm | ₹0 | ₹54 |
| 22 Sept 2026, 6:45 pm | ₹0 | ₹54 |
| 22 Sept 2026, 1:50 pm | ₹0 | ₹54 |
| 22 Sept 2026, 1:45 pm | ₹0 | ₹54 |
| 22 Sept 2026, 8:50 am | ₹0 | ₹54 |
| 22 Sept 2026, 8:45 am | ₹0 | ₹54 |
| 21 Sept 2026, 6:50 pm | ₹0 | ₹54 |
| 21 Sept 2026, 6:45 pm | ₹0 | ₹54 |
| 21 Sept 2026, 1:50 pm | ₹0 | ₹54 |
| 21 Sept 2026, 1:46 pm | ₹0 | ₹54 |
| 21 Sept 2026, 11:23 am | ₹0 | ₹54 |
| 21 Sept 2026, 8:45 am | ₹0 | ₹54 |
| 19 Sept 2026, 6:45 pm | ₹0 | ₹0 |
| 19 Sept 2026, 1:45 pm | ₹0 | ₹0 |
| 19 Sept 2026, 8:45 am | ₹0 | ₹0 |
| 18 Sept 2026, 6:45 pm | ₹0 | ₹0 |
| 18 Sept 2026, 1:45 pm | ₹0 | ₹0 |
| 18 Sept 2026, 8:45 am | ₹0 | ₹0 |
| 17 Sept 2026, 6:45 pm | ₹0 | ₹0 |
GMP is an unofficial, unregulated grey-market estimate — not a prediction of listing performance.
Issue details
- Board
- SME
- Price band
- ₹54
- Issue size
- ₹37.04 Cr
- Lot size
- 2,000
- Opens
- 23 Sept 2026
- Closes
- 25 Sept 2026
- Allotment
- 28 Sept 2026
- Listing
- 30 Sept 2026
- Est. listing price
- ₹54
- Listing price
- Awaited
- Listing gain
- Awaited
- Registrar
- Bigshare Services Pvt.Ltd.
- Minimum investment
- ₹2,16,000 (2 lots · 4,000 shares)
- Face value
- ₹5 per share
- Issue type
- Bookbuilding IPO
- Sale type
- Fresh capital cum OFS
- Fresh issue
- ₹34 Cr
- Offer for sale
- ₹5 Cr
- Listing at
- BSE SME
- Refunds
- 29 Sept 2026
- Shares credited
- 29 Sept 2026
- Promoter holding
- 78.04% before · 51.83% after
- Lead managers
- Indorient Financial Services Ltd.
Offer documents & links
Subscription by category
As of 25 Sept 2026, 6:52 pm.
Total subscription
5.08x
Full issue details
Details as published for this issue, read 29 Sept 2026, 2:05 pm. Verify against the RHP before applying.
IPO Details
| IPO Date | 23 to 25 Sep, 2026 |
|---|---|
| Listing Date | Wed, Sep 30, 2026 (tentative) |
| Face Value | ₹ 5 per share |
| Price Band | ₹51 to ₹54 |
| Issue Price | ₹54 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 72,24,000 shares (agg. up to ₹ 39 Cr) |
|---|---|
| Reserved for Market Maker | 3,64,000 shares (agg. up to ₹ 2 Cr) Shreni Shares Ltd. |
| Fresh Issue (Ex Market Maker) | 59,58,000 shares (agg. up to ₹ 32 Cr) |
| Offer for Sale | 9,02,000 shares of ₹ 5 (agg. up to ₹ 5 Cr) |
| Net Offered to Public | 68,60,000 shares (agg. up to ₹ 37 Cr) |
| Share Holding Pre Issue | 1,59,41,177 shares |
| Share Holding Post Issue | 2,22,63,177 shares |
IPO Timetable (Tentative)
- IPO Open
- Wed, Sep 23, 2026
- IPO Close
- Fri, Sep 25, 2026
- Allotment
- Mon, Sep 28, 2026
- Refund
- Tue, Sep 29, 2026
- Credit of Shares
- Tue, Sep 29, 2026
- Listing
- Wed, Sep 30, 2026
Issue Reservation
- QIB28.43%
- NII (HNI)14.26%
- Retail52.27%
- Market Maker5.04%
| Investor Category | Shares | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB | 20,54,000 | 29.94% | 28.43% |
| NII (HNI) | 10,30,000 | 15.01% | 14.26% |
| - bNII > ₹10L | 6,88,000 | — | 9.52% |
| - sNII < ₹10L | 3,42,000 | — | 4.73% |
| Retail | 37,76,000 | 55.04% | 52.27% |
| Firm Reservations | |||
| Market Maker | 3,64,000 | — | 5.04% |
| Total | 72,24,000 | 100.00% | 100.00% |
Liqvd Digital IPO comprises a total issue size of 72,24,000 shares. The net offer to the public is 68,60,000 shares, after excluding 3,64,000 shares allotted on a firm basis. Of the Net offer 20,54,000 (29.94%) are allocated to QIB , 10,30,000 (15.01%) allocated to NII 37,76,000 (55.04%) allocated to RII .
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 4,000 | ₹2,16,000 |
| Individual investors (IND) (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 |
Investors can bid for a minimum of 4,000 shares and in multiples of 2,000 shares thereof.
About Liqvd Digital India Ltd.
Incorporated in 2013, Liqvd Digital India Limited is a digital marketing and media solutions company that helps brands build their online presence, reach the right audience, and drive business growth. Its services include social media management, media planning and buying, online reputation management, creative content production, influencer marketing, SEO, performance marketing, and web and app development.
The Company works with a diverse range of clients, including large enterprises, mid-sized companies, and direct-to-consumer (D2C) brands across sectors such as IT and communications, FMCG, logistics, financial services, manufacturing, and healthcare. It operates in India through offices in Mumbai and Gurgaon, as well as an in-house studio in Mumbai for content production and related activities. Through its association with AdLift Inc., the Company also has a presence in the United States.
Its media business focuses on planning and buying digital and offline media with an emphasis on measurable results, return on investment, and audience reach. The Company uses data and creative strategies to develop media campaigns based on client requirements and negotiated contracts.
Its production business focuses on creating visual and multimedia content, including photography, video shoots, drone shoots, podcasts, animation, AI-generated videos, and other branded content. The acquisition of AdLift Marketing is expected to further expand the Company's marketing capabilities and client base.
As of July 31, 2026, the Company and AdLift Marketing had 53 and 119 permanent employees, respectively.
Key Strengths
End-to-end digital marketing capabilities covering media planning and buying, creative content, influencer marketing, SEO, and performance marketing.
Experienced management team with industry knowledge and domain expertise, supported by a skilled workforce.
Diversified client base across multiple industries, reducing dependence on any single sector or customer type.
In-house technology and streamlined workflows that support scalable and data-driven marketing campaigns.
Strong content production capabilities through an in-house studio and services such as video, photography, podcasts, animation, and AI-based content.
Expanding market presence with operations in India and access to international business through AdLift Inc.
Company Financials (Restated Consolidated)
| 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 |
| Amount in ₹ Crore |
Recently Listed IPOs in Advertising & Media Agencies
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Century Business Media Ltd. | SME | ₹17.11 Cr | ₹74 | 8.59 | ₹73.92 | -0.11% | ₹68.76 |
| Simca Advertising Ltd. | SME | ₹58.04 Cr | ₹183 | 16.14 | ₹163.80 | -10.49% | ₹288.50 |
| Value 360 Communications Ltd. | SME | ₹41.69 Cr | ₹98 | 20.74 | ₹82.30 | -16.02% | ₹56.15 |
| Yaap Digital Ltd. | SME | ₹80.11 Cr | ₹145 | 18.72 | ₹133.35 | -8.03% | ₹123.05 |
| Chatterbox Technologies Ltd. | SME | ₹42.86 Cr | ₹115 | 13.53 | ₹129.00 | +12.17% | ₹34.00 |
IPO Objects of the Issue
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of purchase consideration for acquisition of stake in AdLift Marketing Pvt.Ltd. | 9.00 |
| 2 | Funding capital expenditure to be incurred for establishment of a Full Scale Video Content Production Hub | 10.59 |
| 3 | Funding incremental working capital requirements | 6.57 |
| 4 | Funding inorganic growth through unidentified acquisitions and general corporate purposes | 4.63 |
| 5 | Issue Expenses | 3.83 |
| Total | 34.62 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Key Performance Indicator (KPI)
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 25.36% |
| ROCE | 44.05% |
| Debt/Equity | 0.29 |
| RoNW | 25.36% |
| PAT Margin | 13.32% |
| EBITDA Margin | 18.69% |
| NAV | 21.45 |
| Price to Book Value | 2.52 |
Check IPO Peer Comparison here.
IPO Valuation
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 5.03 | 3.61 |
| P/E (x) | 10.74 | 14.96 |
| Market Cap at Offer Price | ₹86.08 Cr. | ₹120.22 Cr |
Disclaimer
The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2026 available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2026 available in RHP.
Shareholding Structure
Pre IPO
- Promoter and Promoter Group78.04%
- Public21.96%
Post IPO
- Promoter and Promoter Group51.83%
- Public48.17%
| Category | Pre IPO | Post IPO |
|---|---|---|
| Promoter and Promoter Group | 78.04% | 51.83% |
| Public | 21.96% | 48.17% |
| Total | 100% | 100% |
Company Promoters: Arnab Mitra, Ashish Motilal Jalan, Vivek Suchanti and Concept Communication Ltd..
Offer For Sale - Selling Shareholder
| Name | Category | No. of Shares Offered | Amount (₹ cr.) |
|---|---|---|---|
| Arnab Mitra | Promoter | 9,02,000 | 4.87 |
| Total | — | 9,02,000 | 4.87 |
Liqvd Digital IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
IPO Subscription Status
| Category | Subscription (x) | Shares Offered | Shares bid for | Total Applications |
|---|---|---|---|---|
| QIB (Ex Anchor) | 1.00 | 21,62,000 | 21,62,000 | 0 |
| NII * | 21.02 | 14,64,000 | 3,07,70,000 | 0 |
| bNII (> ₹10L) | 27.11 | 11,04,000 | 2,99,30,000 | — |
| sNII (< ₹10L) | 2.33 | 3,60,000 | 8,40,000 | — |
| Individual Investor | 1.43 | 39,68,000 | 56,80,000 | 0 |
| Total | 5.08 | 75,94,000 | 3,86,12,000 | 2,998 |
| Period Ended | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|
| Standalone (In Rs Lakhs) | Standalone (In Rs Lakhs) | |
| Assets | 3333.45 | 1382.56 |
| Total Income | 2502.58 | 1828.46 |
| Profit After Tax | 224.82 | 190.30 |
| EBITDA | 393.13 | 381.11 |
| NET Worth | 1939.37 | 209.68 |
| Reserves and Surplus | 1564.37 | -90.32 |
The Liqvd Digital IPO is subscribed 5.08 times on September 25, 2026 6:52:18 PM (Day 3). The public issue subscribed 1.43 times in the individual investors category, 1.00 times in the QIB category, and 21.02 times in the NII category. Check Day by Day Subscription Details (Live Status)
Reload
Total Applications: 2,998
*Market Maker portion is not included to NII/HNI.
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers Fees | 0.30 |
| 2 | Underwriting Fees | 2.51 |
| 3 | Selling commission/processing fee for SCSBs, Sponsor Banks and fee payable to the Sponsor Banks for Bids made by Individual Investors, brokerage and selling commission and bidding/uploading charges for members of the Syndicate (including their subSyndicate Members), Registered Brokers, RTAs and CDPs | 0.04 |
| 4 | Fees to the legal advisor, audit / chartered accountant fees and other professionals/intermediaries | 0.78 |
| 5 | Fees Payable for Advertising, Marketing Expenses and Publishing Expenses | 0.05 |
| 6 | Fees payable to the Registrar to the Offer | 0.01 |
| 7 | Fees Payable to Regulators including Stock Exchanges and depositories | 0.13 |
| 8 | Printing and stationery expenses | 0.01 |
| 9 | Miscellaneous | 0.01 |
| Total | 3.83 |
IPO Registrar
Bigshare Services Pvt.Ltd.
8657578989/8069219065/8069219060
ipo@bigshareonline.com
IPO Lead Manager(s)
Indorient Financial Services Ltd.
Contact Details
Liqvd Digital India Ltd. Address
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.asia
Liqvd Digital India IPO in the news
Recent coverage in the financial press. Headlines are the publishers' own; verify details with the RHP.
Liqvd Digital IPO Allotment Status: Check Share Allocation Online
HDFC Sky · 28 Sept 2026
Liqvd Digital India IPO subscribed 5.08 times; NII portion booked 21.02 times
bestmediainfo.com · 28 Sept 2026
Liqvd Digital India IPO Subscribed 5.08 Times
Rediff MoneyWiz · 26 Sept 2026
Liqvd Digital IPO subscribed 5.08 times on final day, NII demand leads
Indian Television Dot Com · 26 Sept 2026
Liqvd Digital India IPO: Issue subscribed 5.08 times on final day
Exchange4Media · 26 Sept 2026
Liqvd Digital India IPO subscribed 5.08 times on final day
The Economic Times · 25 Sept 2026
Liqvd Digital India IPO subscribed 5.08 times on final day
MediaBrief · 25 Sept 2026
Overwhelming Response to Liqvd Digital India Limited’s IPO; Issue Subscribed 5.08 Times on Final Day of Bidding
Passionate In Marketing · 25 Sept 2026
Liqvd Digital India: common questions
Answered from this issue's own record.