| Annual Financials | Mar 2026 |
| Revenue | 60.24 |
| Expenses | 50.38 |
| Other Income | 0.65 |
| Total Revenue | 60.89 |
| Profit Before Tax | 10.51 |
| Net Profit | 6.79 |
Liqvd Digital
Liqvd Digital IPO
₹2,04,000
1.22 xOver-subscribedBidding Dates 23 Sept, 26 -25 Sept, 26
Min Investment ₹2,04,000
Lot Size2,000
Price Range ₹51 – ₹54
Issue Size ₹39.01 Cr.
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IPO Subscription Details
Retail Subscription Details
0.16 x
Non-Institutional Buyers (sHNI)
0.25 x
Non-Institutional Buyers (bHNI)
8.2 x
Qualified Institutional Buyers (QIB)
1 x
Total1.22 x
1.22 x IPO Timeline
IPO Offer Start
23 Sept,26
IPO Offer Ends
25 Sept,26
Allotment Finalisation
28 Sept,26
Refund Initiation
29 Sept,26
Listing of Shares
30 Sept,26
IPO Analysis
Strengths
The company offers end-to-end digital marketing services including content creation, media buying, social media management, influencer marketing, SEO, and AI-driven content creation, further expanded through the acquisition of AdLift Marketing to become a one-stop solution for clients.
The company's promoters bring over 38, 17, and 21 years of industry experience respectively, supported by a qualified senior management team with a combined 82 years of experience in advertising and marketing services, providing strong corporate governance and competitive advantage.
The company has served 85 clients over the last 3 years across sectors including IT, FMCG, logistics, financial services, and healthcare, with repeat business contributing 91.73% and 76.53% of revenue in Fiscal 2025 and Fiscal 2024 respectively on a standalone basis.
Risks
The company derives a material portion of revenues from its Corporate Promoter, Concept Communication Limited, accounting for 12.62% (consolidated) in Fiscal 2026, 44.12% (standalone) in Fiscal 2025, and 14.48% (standalone) in Fiscal 2024. Any deterioration in Concept Communication's business or reduction in dealings could materially and adversely affect the company's revenues, cash flows, and financial condition.
The company derived 52.12%, 85.95%, and 73.46% of its revenue from its top 10 clients in Fiscal 2026, 2025, and 2024 respectively, exposing it to significant customer concentration risk. Loss of one or more major clients or a substantial reduction in business from them could result in material revenue decline and liquidity pressure.
The company recorded negative cash flows from operating activities (₹(45.95) lakhs in Fiscal 2025) and from investing activities (₹(1,264.50) lakhs in Fiscal 2026, primarily due to the ₹1,400 lakhs AdLift acquisition payment). Sustained negative cash flows could materially impair the company's ability to operate and execute its growth plans.
Objectives
The company proposes to utilize a portion of the Net Proceeds to acquire the remaining 23.21% equity stake in AdLift Marketing Private Limited (Tranche 4), which would convert AdLift Marketing into a wholly-owned subsidiary, strengthening the company's full-funnel digital marketing capabilities.
The company intends to establish a Full Scale Video Content Production Hub across Mumbai and Gurgaon, combining AI-driven automation with human creativity to deliver scalable, platform-optimized content, reducing external dependencies and improving operational efficiency.
The company proposes to utilize a portion of the Net Proceeds to meet incremental working capital requirements arising from business expansion, supporting day-to-day operations, scaling of business, and timely payments to vendors and platforms.
The company proposes to deploy the balance Net Proceeds towards strategic unidentified acquisitions aligned with its growth strategy and general corporate purposes including meeting ongoing expenses, business requirements, and repayment of borrowings; subject to a cumulative cap not exceeding a certain percentage of Gross Proceeds.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2026 |
| Total Assets | 57.83 |
| Current Assets | 34.03 |
| Fixed Assets | 23.80 |
| Total Equity & Liabilities | 57.83 |
| Total Liabilities | 21.45 |
| Current Liabilities | 20.56 |
| Non Current Liabilities | 0.89 |
| Total Equity | 36.38 |
Cash Flow
| Cash Flow | Mar 2026 |
| Net Cash Flow | -13.41 |
| Investing Activities | -12.64 |
| Operating Activities | 1.52 |
| Financing Activities | -2.28 |
About Liqvd Digital
Liqvd Digital India Limited (founded in 2013) is a creative-first, full-service digital marketing agency offering end-to-end solutions including media planning & buying, social media management, content creation & production, influencer marketing, SEO, and performance marketing. Following the acquisition of AdLift Marketing in April 2025, the company expanded into SEO, AI-driven...more
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Managing DirectorMr. Arnab Mitra
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