Liqvd Digital India IPO
Liqvd Digital India IPO is a BSE SME book-built issue of ₹39.01 crore comprising a Fresh Issue of 63,22,000 equity shares and an Offer for Sale of 9,02,000 equity shares. The price band is ₹51 to ₹54 per share and the lot size is 2,000 shares. The IPO ope
Liqvd Digital India IPO Details
Liqvd Digital India IPO is scheduled to open for subscription on September 23, 2026 and close on September 25, 2026. The basis of allotment is expected to be finalized on September 28, refunds are scheduled to begin on September 29, and shares are expected to be credited to Demat accounts on September 29, 2026. The proposed listing date is September 30, 2026.
Liqvd Digital India IPO GMP
Liqvd Digital India IPO GMP is currently reported at ₹0 in available grey-market updates. Based on the upper IPO price of ₹54, this indicates an unofficial indicative listing price of ₹54. GMP is not an official exchange figure and can change before listing.
Liqvd Digital India IPO Timeline (Tentative)
Liqvd Digital India IPO will open for subscription on September 23, 2026 and close on September 25, 2026. The basis of allotment is expected on September 28, followed by refund initiation and share credit on September 29. The shares are proposed to list on BSE SME on September 30, 2026.
| Event | Tentative Date |
|---|---|
| IPO Open Date | Wed, Sep 23, 2026 |
| IPO Close Date | Fri, Sep 25, 2026 |
| Basis of Allotment | Mon, Sep 28, 2026 |
| Initiation of Refunds | Tue, Sep 29, 2026 |
| Credit of Shares to Demat | Tue, Sep 29, 2026 |
| Listing Date | Wed, Sep 30, 2026 |
| IPO Opens | September 23, 2026 |
| IPO Closes | September 25, 2026 |
| Basis of Allotment | September 28, 2026 |
| Refund Initiation | September 29, 2026 |
| Credit of Shares to Demat | September 29, 2026 |
| Listing Date | September 30, 2026 |
Liqvd Digital India IPO Lot Size
The Liqvd Digital India IPO lot size is 2,000 shares. Investors need to apply for a minimum of 4,000 shares, or 2 lots, requiring ₹2,16,000 at the upper price band of ₹54. Further bids can be made in multiples of 2,000 shares.
| 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 |
Liqvd Digital India IPO Reservation
Liqvd Digital India IPO has reserved 50% of the Net Offer for QIBs, 15% for NIIs and 35% for Retail Individual Investors. The Market Maker Reservation Portion is separate from the Net Offer.
Liqvd Digital India IPO Subscription
Liqvd Digital India IPO subscription will begin on September 23, 2026. Category-wise subscription figures will be updated after bidding starts.
| Category | Subscription (times) |
|---|---|
| QIB | N.A. |
| NII | N.A. |
| RII | N.A. |
| Total | N.A. |
About Liqvd Digital India
Liqvd Digital India Limited, operating under the Liqvd Asia brand, is a digital-first marketing agency providing creative, media and marketing technology solutions to corporate clients. The company was incorporated in 2013 and operates from Mumbai, with its business focused on digital marketing services including creative solutions, social media marketing, mobile marketing and related digital services.
The company's service portfolio covers creative communication, digital media, social media, performance marketing and technology-enabled marketing solutions. Its business model combines ideas, data, design and digital technologies to provide integrated marketing services to clients across different sectors. The company has offices in five cities according to its investor information.
Liqvd Digital India is also pursuing expansion through acquisitions and new capabilities. The IPO objects include acquisition of a 23.21% stake in AdLift Marketing Private Limited, establishment of a Full Scale Video Content Production Hub, incremental working capital requirements and inorganic growth and general corporate purposes.
The company reported total income of ₹24.73 crore in FY2026 compared with ₹25.03 crore in FY2025, while profit after tax increased to ₹4.43 crore from ₹2.25 crore. EBITDA increased to ₹7.28 crore in FY2026 from ₹4.30 crore in FY2025.
Strengths
- Integrated digital marketing capabilities covering creative, media and marketing technology solutions.
- Established operating history in the digital marketing industry since 2013.
- Revenue is supported by multiple digital marketing service categories and corporate clients.
- Profit after tax increased from ₹2.25 crore in FY2025 to ₹4.43 crore in FY2026.
- IPO proceeds are intended to support acquisition, video content production infrastructure and working capital.
- Expansion through acquisition of a 23.21% stake in AdLift Marketing Private Limited provides an additional growth initiative.
Risks to Consider
- The digital marketing industry is competitive and requires continuous investment in technology, talent and creative capabilities.
- Client relationships and retention are important to maintaining revenue and business volumes.
- Marketing budgets can be affected by changes in economic conditions and corporate spending priorities.
- The planned acquisition and new Video Content Production Hub involve execution and integration risks.
- A portion of the IPO includes an Offer for Sale, meaning proceeds from the OFS will go to the selling shareholder rather than the company.
- The company operates in a rapidly changing digital environment where technologies, platforms and consumer behaviour can change quickly.
Liqvd Digital India Financials (₹ Cr)
Liqvd Digital India reported total income of ₹18.28 crore in FY2024, ₹25.03 crore in FY2025 and ₹24.73 crore in FY2026. Profit after tax increased from ₹1.90 crore in FY2024 to ₹2.25 crore in FY2025 and ₹4.43 crore in FY2026.
| Period | Revenue | PAT | Total Assets | Net Worth |
|---|---|---|---|---|
| FY2024 | 18.05 | 1.90 | ||
| FY2025 | 24.87 | 2.25 | ||
| FY2026 | 24.34 | 4.43 |
KPIs & Valuation
Liqvd Digital India IPO’s key performance indicators and valuation metrics provide an overview of the company’s earnings, profitability, capital efficiency, and valuation at the IPO price. The analysis covers important parameters such as Earnings Per Share (EPS), Price-to-Earnings (P/E) ratio, Return on Net Worth (RoNW), Return on Capital Employed (ROCE), Net Asset Value (NAV), EBITDA margin, PAT margin, and Debt-to-Equity ratio. These indicators help present the company’s financial performance and the valuation associated with its IPO.
Objects of the Issue
Liqvd Digital India proposes to use the Net Proceeds from the Fresh Issue for strategic expansion, acquisition, establishment of a Full Scale Video Content Production Hub, working capital and general corporate purposes. The Offer for Sale component will be received by the selling shareholder.
- The company proposes to utilise the IPO proceeds for:
- Funding the purchase consideration for acquisition of a 23.21% stake in AdLift Marketing Private Limited.
- Funding capital expenditure, operating expenditure and other expenditure for establishing a Full Scale Video Content Production Hub.
- Funding incremental working capital requirements.
- Funding inorganic growth through unidentified acquisitions and general corporate purposes.
- The disclosed estimated amounts include ₹9 crore for acquisition of the 23.21% stake in AdLift Marketing Private Limited, ₹10.59 crore for the Full Scale Video Content Production Hub and ₹6.57 crore for incremental working capital requirements.
Promoters, Lead Managers & Registrar
Liqvd Digital India Limited is promoted by Arnab Mitra, Ashish Motilal Jalan, Vivek Suchanti and Concept Communication Limited. The company's investor information identifies Arnab Mitra as Chairman and Managing Director, while Ashish Motilal Jalan is a Non-Executive Director. Indorient Financial Services Limited is the Book Running Lead Manager to the issue and Bigshare Services Private Limited is the Registrar to the Offer.
Promoters
Lead Managers (BRLM)
Registrar
| Name | Bigshare Services Private Limited |
|---|---|
| Phone | +91 22 6263 8200 |
| ipo@bigshareonline.com | |
| Website | https://www.bigshareonline.com |
Liqvd Digital India IPO Review
Liqvd Digital India operates in the digital marketing industry and provides creative, media and technology-led marketing solutions to corporate clients. Its service portfolio covers several areas of digital communication, allowing the company to participate in the growing use of digital channels by businesses.
The company's financial performance shows a rise in profitability during FY2026. Total income was ₹24.73 crore in FY2026 compared with ₹25.03 crore in FY2025, while PAT increased from ₹2.25 crore to ₹4.43 crore. EBITDA also increased from ₹4.30 crore to ₹7.28 crore during the same period.
The Fresh Issue is primarily directed towards expansion initiatives. The company plans to invest ₹9 crore towards acquiring a 23.21% stake in AdLift Marketing Private Limited, ₹10.59 crore towards establishing a Full Scale Video Content Production Hub and ₹6.57 crore towards incremental working capital. These investments are intended to expand the company's capabilities and support future operations.
At the upper price band of ₹54, the IPO has a pre-issue P/E of approximately 19.42x based on FY2026 EPS of ₹2.78. Investors evaluating the issue can consider the company's profitability trend, digital marketing business model, planned acquisitions, expansion expenditure and the competitive nature of the advertising and digital-media industry.
How to Apply
Liqvd Digital India IPO applications can be made through ASBA and UPI-supported IPO application facilities provided by eligible banks and stockbrokers. The IPO opens on September 23, 2026 and closes on September 25, 2026.
The minimum application is 4,000 shares, or 2 lots. At the upper price band of ₹54 per share, the minimum application amount is ₹2,16,000.
Through UPI
- Log in to your stockbroker app or website.
- Go to the IPO section.
- Select Liqvd Digital India IPO.
- Enter the number of lots you want to apply for.
- Enter your UPI ID and submit the IPO application.
- Check the UPI mandate request received from your bank.
- Approve the mandate using your UPI PIN.
- The application amount will be blocked in your linked bank account.
- If shares are allotted, the applicable amount will be debited and the allotted shares will be credited to your Demat account.
Prospectus & Documents
The company's investor section provides access to its IPO documents, including the Red Herring Prospectus, Draft Red Herring Prospectus, addendum and financial information.
Last updated Sep 22, 2026.