Liqvd Digital IPO: dates, price band, lot size and GMP
Liqvd Digital IPO listed on 30 Sep at ₹53.73 (BSE SME). Issue dates 23 – 25 Sep 2026, price band ₹51 – ₹54, lot 2,000 shares. The shares now trade on the exchange; any pre-IPO price on this site is historical.
Updated 6 Oct 2026, 14:11 IST. Dated dealer references.
BuyUnlistedShares tracks 197 IPOs on its calendar; the Liqvd Digital IPO has a price band of ₹51 – ₹54, a lot of 2,000 shares and no grey-market premium reported yet as of 06 Oct 2026.
Key details
| Board | SME |
|---|---|
| Issue dates | 23 – 25 Sep 2026 |
| Price band | ₹51 – ₹54 |
| Lot size | 2,000 shares |
| Issue size | ₹39.01 Cr |
| Fresh issue | ₹32.17 Cr |
| Offer for sale | ₹4.87 Cr |
| Subscription | 5.08x |
| Registrar | Bigshare Services Pvt.Ltd. |
| Lead managers | Indorient Financial Services Ltd. |
| Status | Listed |
Timeline
- Issue opens: 23 Sep
- Issue closes: 25 Sep
- Allotment: 28 Sep
- Refunds: 29 Sep
- Demat credit: 29 Sep
- Listing: 30 Sep
Live subscription
| Category | Subscribed |
|---|---|
| QIB | 1x |
| NII | 21.02x |
| sNII | 2.33x |
| bNII | 27.11x |
| Retail | 1.43x |
| Total | 5.08x |
Last updated 25 Sep 2026, 6:53 PM IST.
Issue details
| Face value | ₹5 |
|---|---|
| Issue type | Book Build Issue |
| Listing at | BSE SME |
| Market cap at the upper band | ₹120.22 Cr |
| P/E (pre-issue) | 10.74x |
| P/E (post-issue) | 14.96x |
| Fresh issue (shares) | 59,58,000 |
| Offer for sale (shares) | 9,02,000 |
| Total shares offered | 68,60,000 |
| Promoter holding pre-issue | 78.04% |
| Promoter holding post-issue | 51.83% |
| Promoters | Arnab Mitra, Ashish Motilal Jalan, Vivek Suchanti, Concept Communication Ltd. |
| Lead managers | Indorient Financial Services Ltd. |
| Registrar phone | 8657578989/8069219065/8069219060 |
| Registrar email | ipo@bigshareonline.com |
| Company website | liqvd.asia |
Lot sizes by investor category
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (minimum) | 2 | 4,000 | ₹2,16,000 |
| Retail (maximum) | 2 | 4,000 | ₹2,16,000 |
| sNII (minimum) | 3 | 6,000 | ₹2,16,000 |
| bNII (minimum) | 3 | 6,000 | ₹10,80,000 |
Reservation
| Category | Share of issue | Shares offered | Basis |
|---|---|---|---|
| QIB | 29.9% | 20,54,000 | Not more than 30% of the Net Offer |
| NII (HNI) | 15% | 10,30,000 | Not less than 15% of the Net Offer |
| sNII | 5% | 3,42,000 | |
| bNII | 10% | 6,88,000 | |
| Retail | 55% | 37,76,000 | Not less than 55% of the Net Offer |
| Market Maker | 5.3% | 3,64,000 |
Subscription by day
| Day | QIB | NII | sHNI | bHNI | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 · 23 Sep | 1.00x | 3.77x | 0.11x | 4.97x | 0.04x | 1.03x |
| Day 2 · 24 Sep | 1.00x | 4.35x | 0.31x | 5.66x | 0.20x | 1.23x |
| Day 3 · 25 Sep | 1.00x | 21.02x | 2.33x | 27.11x | 1.43x | 5.08x |
Key ratios as of 31 Mar 2026
| EPS (pre-issue) | ₹5.03 |
|---|---|
| EPS (post-issue) | ₹3.61 |
| P/E (pre-issue) | 10.74x |
| P/E (post-issue) | 14.96x |
| RoNW | 25.36% |
| RoCE | 44.05% |
| RoE | 25.36% |
| PAT margin | 13.32% |
| EBITDA margin | 18.69% |
| Price / book | 2.52x |
| NAV per share | ₹21.45 |
| Debt / equity | 0.29 |
| Market cap (upper band) | ₹120.22 Cr |
Financials (₹ Cr)
| Metric | FY26 | Change |
|---|---|---|
| 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 | — |
About Liqvd Digital
Incorporated in 2013, our Company is positioned within the digital marketing landscape as a creative-first agency offering end-to-end marketing and communication solutions. Its services include content creation and production, media planning and buying, social media management, influencer marketing, SEO, and AI-driven content development. The Company's focus lies in helping brands and businesses identify, target, and engage their audiences through data-driven strategies and technology-enabled platforms.
Following the acquisition of AdLift Marketing in April 2025, the Company has significantly expanded its capabilities in performance marketing, SEO, and analytics, enhancing its positioning as a one-stop integrated digital solutions partner. AdLift operates in India and the United States through its subsidiary, AdLift Inc., strengthening the Company's international presence.
The Company operates across four verticals - Media, Retainer, Project, and Production - offering customized marketing solutions that range from long-term brand retainers to one-time campaign executions and multimedia production. It serves a diverse client base, including large enterprises, mid-sized brands, and D2C startups, primarily across Maharashtra and Gujarat.
Headquartered in Mumbai, with offices in Gurgaon and an in-house content production studio in Mumbai, the Company derives a significant portion of its revenue from its Corporate Promoter, Concept Communication Limited , a leading integrated communication agency.
Objects of the issue
- Funding of purchase consideration for acquisition of stake in AdLift Marketing Pvt.Ltd. — ₹9 Cr
- Funding capital expenditure to be incurred for establishment of a Full Scale Video Content Production Hub — ₹10.59 Cr
- Funding incremental working capital requirements — ₹6.57 Cr
- Funding inorganic growth through unidentified acquisitions and general corporate purposes — ₹4.63 Cr
- Issue Expenses — ₹3.83 Cr
Net proceeds: ₹34.62 Cr
Peer comparison
| Company | EPS (Diluted) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|
| Liqvd Digital India Limited (issuer) | 4.39 | 21.45 | — | 25.36% | — | Restated |
| R K Swamy Ltd. | 4.38 | 104.71 | 22.37x | 8.6% | 0.66 | — |
| Vertoz Ltd. | 3.06 | 27.35 | 11.75x | 12.31% | 1.3 | — |
| Adcounty Media India Ltd. | 9.65 | 47.53 | 8.08x | 27.96% | 1.64 | — |
| Yaap Digital Ltd. | 12.1 | 51.82 | 11.4x | 28.25% | 2.71 | — |
Notes: The figures for our Company are based on Restated Financial Statements for the year ended March 31, 2026. The figures for our peers are based on Audited Financial Statements for the year ended March 31, 2026. Financial information for listed industry peers mentioned above is sourced from the Industry Report issued by Ken Research Private Limited dated June, 2026 & Annual Reports of the Respective Companies published on NSE/BSE as the case may be.
Strengths (per the offer document)
- Full-service digital marketing solutions, from performance media buying to creative content, influencer marketing, SEO and performance marketing — A creative-first agency (founded 2013) offering end-to-end marketing solutions, with SEO and performance marketing added through the AdLift Marketing acquisition.
- Experienced promoters and management team with strong domain expertise, supported by a well-trained and skilled workforce — Our Corporate Promoter, Concept Communication Limited, and individual Promoters Mr. Vivek Suchanti, Mr. Arnab Mitra and Mr. Ashish Motilal Jalan bring 38, 38, 17 and 21 years of industry experience respectively.
- A diversified and loyal client portfolio, spanning multiple industries and verticals — Our business model was built and continues to depend on repeat mandates from clients across sectors.
- In-house technology and optimized operational workflows to deliver scalable, data-driven campaigns with precision and speed — Campaigns are planned, executed and tracked through a unified internal system across all functions.
Risk factors (as disclosed by the company)
- We have had negative cash flows from operating activities and investing activities in the past and may, in the future, experience similar negative cash flows — Our Company had negative cash flows from our investing activities and financing activities in the current and previous years as per the Restated Financial Statements and the same are summarized as…
- There are certain instances of delays in and non-payment of statutory dues by us — During the last Fiscal years 2026, 2025 and 2024, we had instances of delays in payment of certain statutory dues, including with respect to payment of GST, tax deducted at source, contributions…
- Our revenues are highly dependent on certain key industries which include IT & Communication, FMCG & Financial Services — A substantial portion of our clients are concentrated in a few specific industry verticals: i) Information technology & communication, ii) FMCG & iii) financial services.
- Our operations are dependent on a limited number of key suppliers — We rely on a limited number of suppliers for various technology platforms, media inventory, influencer networks, content production, and other outsourced services that are critical to our operations.
- Any changes in trend, decrease in digital advertisement-spend by our clients could have a material adverse effect on our business — Our revenue from digital operations for Fiscals 2026, 2025 and 2024 contributed to 98.93%, 99.38%, and 98.74% respectively, of our total Revenue.
- Companies may move their advertising projects — Companies may begin to internalize their creative, advertising, marketing, data analytics and market research functions by establishing dedicated in-house departments due to a range of factors,…
- Negative public reaction to content we create for our clients which could harm our reputation and business — As a digital marketing and advertising agency, we are routinely engaged in the creation of advertisement campaigns and social media campaigns that are designed to persuade, engage, and influence…
- Our strategy includes inorganic growth through acquisitions — Presently, we have undertaken acquisition as part of our growth strategy, for details of the acquisition, please refer to “History and Certain Other Corporate Matters” on page 253.
From the RHP (risk factors pages 30–38). Headings shortened; the wording is the company’s. Not a recommendation.
Offer documents: DRHP (PDF) · RHP (PDF)
Track this issue
- Liqvd Digital IPO GMP today and trend
- Liqvd Digital IPO subscription status, day by day
- Liqvd Digital IPO allotment status and how to check
Frequently asked questions
When does the Liqvd Digital IPO open and close?
The issue is scheduled for 23 – 25 Sep 2026.
What is the Liqvd Digital IPO price band?
The price band is ₹51 – ₹54 per share with a lot size of 2,000 shares.
How big is the Liqvd Digital IPO?
The total issue size is ₹39.01 Cr, of which ₹32.17 Cr is a fresh issue and ₹4.87 Cr an offer for sale.
When will Liqvd Digital list?
The tentative listing date is 30 Sep on the SME platform.
How do I apply for the Liqvd Digital IPO?
Apply through your broker or bank using ASBA or UPI within the issue window; the amount stays blocked in your account until allotment. BuyUnlistedShares does not take applications; it tracks the issue and the unlisted price before it.
Sources
- Draft red herring prospectus (DRHP), Liqvd Digital · as filed with SEBI · bsesme.com
- Red herring prospectus (RHP), Liqvd Digital · as filed · bseindia.com
- Registrar allotment page, Bigshare Services Pvt.Ltd. · allotment 28 Sep · ipo.bigshareonline.com
- BSE SME issues page · listing 30 Sep · bsesme.com
- Liqvd Digital company website · liqvd.asia
- BuyUnlistedShares IPO record: GMP, subscription and allotment, dated daily · GMP as of 30 Sep, 04:04 · buyunlistedshares.com
How to cite this page: BuyUnlistedShares, “Liqvd Digital IPO”, https://buyunlistedshares.com/ipo/liqvd-digital-ipo, as of 06 Oct 2026.
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Indicative reference price, dated. BuyUnlistedShares is India's premium unlisted shares desk: the unlisted and pre-IPO dealing desk of Gayatri Financial Synergy, Faridabad, in the market since 2002. Reviewed by the BuyUnlistedShares desk before publishing. Data as of 06 Oct 2026.
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