Liqvd Digital IPO Opens for Subscription
Liqvd Digital India IPO opened today, September 23, 2026, and will remain open until September 25. The book-built SME issue comprises 72.24 lakh shares and will raise up to ₹39.01 crore at the upper price band. The issue includes both a fresh issue and an offer for sale, with the shares scheduled to list on BSE SME on September 30.
| Particular | Details |
|---|---|
| IPO Name | Liqvd Digital India IPO |
| IPO Dates | Sep 23–25, 2026 |
| Price Band | ₹51–₹54 |
| Issue Size | ₹39.01 Cr |
| Total Shares | 72.24 Lakh |
| Fresh Issue | ₹34.14 Cr |
| Offer for Sale | ₹4.87 Cr |
| Lot Size | 2,000 Shares |
| Minimum Application | 4,000 Shares |
| Minimum Investment | ₹2,16,000 |
| Listing Platform | BSE SME |
| Allotment | Sep 28, 2026 |
| Refund / Demat | Sep 29, 2026 |
| Listing | Sep 30, 2026 |
| Merchant Banker | Indorient Financial Services |
Liqvd Digital IPO GMP Today
The latest available grey-market update indicates Liqvd Digital IPO GMP at around ₹0. At the upper issue price of ₹54, the unofficial indicative price would therefore be around ₹54 if the GMP remains unchanged.
| GMP Particular | Latest Update |
|---|---|
| GMP | ₹0 |
| Upper Price Band | ₹54 |
| Indicative Price | ₹54 |
| Indicative Premium | 0% |
GMP is an unofficial and unregulated market indicator. It can change during the IPO period and should not be considered a guaranteed listing price.
Liqvd Digital IPO Subscription Status
The IPO opened today, so subscription data is still developing. The published issue structure provides portions for QIBs, NIIs and retail investors, with anchor investors also allocated shares before the public issue.
| Category | Reservation |
|---|---|
| QIB | 11.40% |
| NII | 33.25% |
| Retail | 33.25% |
| Anchor Investors | 17.10% |
Live subscription figures can change significantly during the three-day bidding period.
Liqvd Digital Business Overview
Liqvd Digital India is a digital marketing and creative technology agency established in 2013. The company provides services across digital media, creative content, social media management, performance marketing, SEO, influencer marketing, online reputation management and website and application development.
The company serves enterprise, mid-market and direct-to-consumer brands across sectors such as information technology, FMCG and financial services. Its business model includes retainer contracts, media procurement, specialised projects and video content production.
Following its acquisition of a majority stake in AdLift Marketing in April 2025, the company expanded its exposure to SEO, performance marketing and related digital services.
Liqvd Digital IPO Financial Performance
Liqvd Digital reported substantial revenue growth in FY2026. Revenue from operations increased to approximately ₹60.23 crore from ₹24.87 crore in FY2025. Restated financials show PAT of around ₹3.45 crore in FY2026 compared with ₹2.25 crore in FY2025.
| Financial Year | Revenue | PAT |
|---|---|---|
| FY2024 | ₹18.05 Cr | ₹1.90 Cr |
| FY2025 | ₹24.87 Cr | ₹2.25 Cr |
| FY2026 | ₹60.23 Cr | ₹3.45 Cr |
The company reported FY2026 EBITDA of approximately ₹4.36 crore, while net worth increased to around ₹36.38 crore.
Liqvd Digital Financial Highlights
The company's FY2026 financial position reflects a larger business scale following its acquisition activity. Total debt stood at approximately ₹9.79 crore, resulting in a debt-to-equity ratio of around 0.27x.
| Financial Indicator | FY2026 |
|---|---|
| EBITDA | ₹4.36 Cr |
| EBITDA Margin | 7.24% |
| PAT Margin | 5.73% |
| EPS | ₹4.39 |
| Net Worth | ₹36.38 Cr |
| Total Debt | ₹9.79 Cr |
| Debt-to-Equity | 0.27x |
| ROCE | 44.05% |
The financial data shows strong revenue expansion, although the EBITDA and PAT margins were lower than the previous year's reported levels.
Liqvd Digital IPO Objects of the Issue
The fresh issue proceeds are proposed to be used for several business purposes, including investment related to AdLift Marketing, capital expenditure, working capital and general corporate requirements.
| IPO Objective | Amount |
|---|---|
| Acquisition of Stake in AdLift Marketing | ₹9.00 Cr |
| Capital Expenditure | ₹10.59 Cr |
| Incremental Working Capital | ₹6.57 Cr |
| General Corporate Purposes | ₹7.98 Cr |
The planned capital expenditure and working-capital funding are intended to support the company's expansion and operating requirements.
Liqvd Digital Business Expansion
Liqvd Digital has expanded beyond traditional digital advertising into a broader marketing and technology offering. Its services now cover creative development, media planning and buying, social media, SEO, performance marketing, influencer campaigns, content production and technology solutions.
The acquisition of AdLift Marketing has added another layer to its digital marketing capabilities, particularly in search engine optimisation and performance marketing.
Liqvd Digital IPO Key Risks
The company operates in a competitive digital marketing and advertising industry where client retention, pricing pressure, technology changes and the ability to attract new accounts can affect revenue.
Its business also depends on maintaining relationships with corporate clients and delivering multiple specialised services. Integration and performance of the acquired AdLift business are additional factors to monitor.
The company has also experienced a substantial increase in revenue between FY2025 and FY2026, partly reflecting the expanded business following the acquisition. Investors should therefore consider whether the higher revenue base can be maintained while margins remain sustainable.
Liqvd Digital IPO Important Dates
The IPO opened on September 23 and will close on September 25, 2026. The basis of allotment is scheduled for September 28, refunds and demat credit are expected on September 29, and listing is scheduled for September 30 on BSE SME.
| IPO Event | Date |
|---|---|
| IPO Opening | Sep 23, 2026 |
| IPO Closing | Sep 25, 2026 |
| Allotment | Sep 28, 2026 |
| Refund | Sep 29, 2026 |
| Demat Credit | Sep 29, 2026 |
| Listing | Sep 30, 2026 |
Liqvd Digital IPO Latest News Summary
Liqvd Digital India IPO has opened today with a price band of ₹51–₹54 and an issue size of ₹39.01 crore. The issue includes a ₹34.14 crore fresh issue and an offer for sale of approximately ₹4.87 crore, with the shares scheduled to list on BSE SME.
The latest available GMP is around ₹0, while subscription activity is still developing on the opening day. The company reported FY2026 revenue of approximately ₹60.23 crore and restated PAT of ₹3.45 crore, compared with ₹24.87 crore revenue and ₹2.25 crore PAT in FY2025.
The main updates to watch during the IPO period are category-wise subscription demand, changes in the unofficial GMP and the company's ability to maintain its expanded revenue base following the AdLift acquisition.
Disclaimer: IPO GMP is an unofficial and unregulated market indicator and can change at any time. Subscription figures may change throughout the bidding period and can vary depending on the reporting time. This article is for informational purposes only and should not be considered investment advice.
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