Liqvd Digital Opens ₹39-Crore SME IPO for Subscription on BSE SME

Full-service digital agency Liqvd Digital India Limited opened its initial public offering (IPO) for subscription on Wednesday, September 23, 2026. The public issue, aiming to raise ₹39.01 crore, is slated to remain open until Friday, September 25, 2026, with the shares scheduled for listing on the BSE SME platform.

Issue Structure and Pricing Details

The company has fixed the price band for the book-built SME offering at ₹51 to ₹54 per equity share having a face value of ₹5 each.

Key issue components include:

• A fresh issue of 63.22 lakh equity shares aggregating to ₹34.14 crore.
• An offer-for-sale (OFS) of 9.02 lakh equity shares valued at ₹4.87 crore at the upper end of the band, sold by promoter Arnab Mitra.
• A total issue size of 72.24 lakh equity shares amounting to ₹39.01 crore.
• A minimum application lot size of 2,000 equity shares, requiring a minimum retail commitment of ₹1,08,000 at the upper price band.

At the upper price band of ₹54 per share, Liqvd Digital India's post-issue market capitalisation stands at approximately ₹120 crore. Indorient Financial Services Limited is acting as the sole book-running lead manager, while Bigshare Services Private Limited has been appointed as the registrar to the issue.

Objects of the Offer

The net proceeds from the fresh capital raise are earmarked for inorganic growth initiatives, capacity expansion, and liquidity management.

Planned capital deployment includes:

• ₹9.00 crore towards acquiring a 23.21% equity stake in AdLift Marketing Private Limited.
• ₹10.59 crore for capital expenditure, operational expenditure, and other costs to set up a full-scale video content production hub.
• ₹6.57 crore to meet incremental working capital requirements.
• The remaining balance allocated towards general corporate purposes and further inorganic business acquisitions.

Business Overview and Financial Performance

Incorporated in 2013, Liqvd Digital India provides integrated digital marketing, technology, and media solutions to large corporate enterprises, mid-sized brands, and direct-to-consumer businesses across sectors like FMCG, information technology, and financial services. The company's service offerings span media planning and procurement, social media marketing, creative content development, SEO, performance marketing, and software application design.

For the financial year ended March 31, 2026, Liqvd Digital India reported consolidated revenue from operations of ₹60.24 crore and a consolidated net profit of ₹8.03 crore.

Issue Timelines

The subscription window remains open across primary market bidding systems from September 23 to September 25, 2026. Following the conclusion of bidding, the basis of allotment is expected to be finalised on Monday, September 28, 2026. Initiation of refunds and the credit of equity shares to successful allottees' demat accounts are scheduled for September 29, 2026, ahead of the tentative BSE SME listing on Wednesday, September 30, 2026.

Tags: Liqvd Digital India BSE SME Indorient Financial Services Bigshare Services AdLift Marketing SEBI