Liqvd Digital India Ltd IPO
IT - Software
Price Band
₹51 – ₹54
Lot Size
2000
Minimum Bid Quantity
4000
Minimum Investment
₹216000
Issue Size
₹39.01Cr
Opens
2026-09-23
Closes
2026-09-25
Listing
30-09-2026
Subscription Status
Qualified Institutional Buyers
1 x
Non-Institutional Investor
20.99 x
Retail Individual Investor
1.38 x
Total
5.05 x
IPO Details
Issue Type
EQUITY
Face Value
₹5
Tick Size
1
ISIN
INE0CJT01025
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Liqvd Digital India Limited is a digital marketing and creative agency founded in 2013. The company provides services including content creation and production, media planning and buying, content marketing, performance reporting, social media management, online reputation management, influencer marketing, and web and application development. Following its acquisition of a majority stake in AdLift Marketing in April 2025, the company also offers services related to search engine optimisation (SEO), performance marketing, performance monitoring, and AI-driven content creation. AdLift Marketing operates in India and the United States through its subsidiary, AdLift Inc. The company serves large enterprises, mid-sized brands, and direct-to-consumer startups. Liqvd Digital India and AdLift Marketing have offices in Mumbai and Gurugram. The company also operates an in-house studio in Mumbai with a green screen setup, which is used for internal content such as founder videos and interviews, along with basic production activities including green screen work, editing, and voiceover coordination.
Pros
- • The company offers services across multiple areas of digital marketing. Its portfolio covers media buying, content creation, social media management, influencer marketing, SEO, performance marketing, web and application development, and AI-driven content creation following the acquisition of AdLift Marketing.
- • The company has an experienced promoter and management team. According to the RHP, the promoters have between 17 and 38 years of industry experience, while its whole-time directors have 12 and 13 years of experience in digital marketing. The management and senior management team has a combined 82 years of experience in advertising and marketing services.
- • The company has served clients across multiple industries. During the last three years, it served 85 clients across sectors including information technology and communication, FMCG, logistics, financial services, manufacturing, and healthcare. In FY26, it had 117 customers on a consolidated basis, including 15 repeat customers.
Cons
- • A significant portion of the company’s revenue is derived from its corporate promoter, Concept Communication Limited. Revenue from Concept Communication amounted to Rs 7.60 crore (12.62%) in FY26 on a consolidated basis, Rs 10.97 crore (44.12%) in FY25, and Rs 2.61 crore (14.48%) in FY24 on a standalone basis. Any reduction or discontinuation of business from Concept Communication could adversely affect the company’s revenue, profitability, cash flows, and financial condition.
- • A significant portion of the company’s revenue is concentrated among its top 10 customers. The top 10 customers contributed Rs 31.40 crore (52.12%) of revenue in FY26 on a consolidated basis, Rs 21.37 crore (85.95%) in FY25, and Rs 13.26 crore (73.46%) in FY24 on a standalone basis. Loss of one or more major customers or a significant reduction in business from them could adversely affect the company’s revenue, cash flows, liquidity and financial condition.
- • A significant portion of the company’s revenue is derived from Maharashtra, creating geographical concentration risk. Revenue from Maharashtra amounted to Rs 17.82 crore (29.58%) in FY26 on a consolidated basis, Rs 20.10 crore (80.82%) in FY25, and Rs 12.78 crore (70.80%) in FY24 on a standalone basis. Any adverse economic, regulatory, political, or other developments in Maharashtra could hurt the company’s revenue and results of operations.
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