Price band of Rs 51 – Rs 54 per Equity Share bearing face value of Rs. 5 each (“Equity Shares”)
Bid/Offer Opening Date - Wednesday, September 23, 2026 and Bid/Offer Closing Date- Friday, September 25, 2026
Minimum Bid Lot is 4000 Equity Shares and in multiples of 2000 Equity Shares thereafter
Mumbai: Liqvd Digital India Limited (“Company”) has fixed the price band of Rs 51/- to Rs 54/- per Equity Share of face value Rs. 5/- each for its initial public offer.
The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Wednesday, September 23, 2026 for subscription and close on Friday, September 25, 2026.
Investors can bid for a minimum of 4000 Equity Shares and in multiples of 2000 Equity Shares thereafter.
Equity shares outstanding as on date 1,59,41,177 equity shares of Rs. 5 each.
The offer, with a face value of Rs 5 per equity share, comprises a fresh of up to Rs 34.14 crore and an offer-for-sale for up to 9,02,000 equity shares by promoter – Arnab Mitra.
The proceeds from its fresh issuance worth Rs 9 crore will be utilized for funding of purchase consideration for acquisition of 23.21% stake in AdLift Marketing Private Limited (“AdLift”), Rs 10.59 crore for funding capital expenditure, operating expenditure and other expenditure to be incurred for establishment of a full scale video content production hub (Full Scale VCP Hub), Rs 6.57 crore for funding the company's incremental working capital requirements, funding inorganic growth through unidentified acquisitions and general corporate purposes.
The Offer is being made through the book-building process, in compliance with SEBI ICDR Regulations, wherein not more than 30% of the net offer will be available for allocation to qualified institutional buyers (QIBs), not less than 35% to non-institutional bidders (NIIs), and not less than 35% to retail individual bidders (RIIs).
Incorporated in 2013, the company is positioned as a creative-first agency offering end-to-end marketing solutions. Its services encompass content creation and production, media buying, content marketing, and performance reporting. Following the acquisition of AdLift, the agency has expanded its capabilities to include performance monitoring, SEO, and AI-driven content creation, positioning itself as a one-stop solution for clients seeking integrated marketing services (Source: Ken Research Report, page 62).
The Company develops and manages a range of digital marketing content, through services like social media management, media planning and buying across platforms, online reputation management, creative and content production, influencer marketing operated through a in house creator network, and web and application development.
The primary objective of the company is to provide effective media solutions and leverage on technology to help brands, companies, and businesses identify, target, acquire, and retain the right audience for their products and services. It serves a broad client base, working with large enterprises, mid-sized brands, and direct-to-consumer startups.
The Company has already acquired 76.79% stake in Adlift. This has opened the doors of the Company into the US, since Adlift has a subsidiary in US called Adlift Inc. The Company and AdLift are present in India with offices in two cities - Mumbai and Gurgaon, and a compact in-house studio in Mumbai with a green screen set up, which is used for internal content (founder videos, interviews), and support production activities like green screen, editing and voiceover coordination.
Its corporate promoter, Concept Communication Limited (Concept Communication) is an integrated
communication agency with a professional team. The Company derives a significant portion of its revenue from Concept Communication Limited constituting 12.62% (on consolidated basis), 44.12%, & 14.48% (on standalone basis) of its total revenue from operations in Fiscal 2026, 2025 & 2024 respectively.
The Company’s revenue from operations was Rs 60.24 crore (on consolidated basis) during FY26 as against Rs 18.05 crore (on standalone basis) during FY 24. Its net profit before minority interest was Rs 8.03 crore (on consolidated basis) during FY26 as against Rs 1.90 crore (on standalone basis) during FY24.
Indorient Financial Services is the book running lead manager, and Bigshare Services Private Limited is the registrar of the offer.
The equity shares are proposed to be listed on BSE SME Platform.
Liqvd Digital India Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its Equity Shares and has filed a red herring prospectus dated September 16, 2026, with the RoC (“RHP”). The RHP is made available on the website of the SEBI at www.sebi.gov.in as well as on the website of the BRLM, https://indorient.in/ , the website of the BSE at www.bseindia.com and the website of the Company at https://liqvd.asia/. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risks, please see the section “Risk Factors” beginning on page 30 of the RHP. Potential investors should not rely on the DRHP for making any investment decision but should only rely on the information included in the RHP filed by the Company with the RoC.
The Equity Shares offered in the Offer have not been, and will not be, registered under the U.S. Securities Act and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. The Equity Shares offered in the issue are being offered and sold only outside the United States in “offshore transactions” as defined in and in reliance on Regulation S under the U.S. Securities Act (“Regulation S”).
Disclaimer Clause of Securities and Exchange Board of India (“SEBI”): Since this is a SME issue pursuant to Regulation 246 of the SEBI ICDR Regulations, SEBI shall not give its observations on the offer documents and this does not constitute approval of either the Offer or the specified securities stated in the Offer Documents. The investors are advised to refer to page 446 of the RHP for the full text of the disclaimer clause of SEBI.
Disclaimer Clause of the SME Platform of BSE: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the RHP has been cleared or approved by BSE Limited, nor does it certify the correctness or completeness of any of the contents of the RHP. The investors are advised to refer to the page 452 of the RHP for the full text of the disclaimer clause of BSE.
