Liqvd Digital India IPO

SME • BSE SME • Fresh capital cum OFS

LISTEDSMEBSE SME

Liqvd Digital India

Price band

₹51 – ₹54

Lot size

2000 shares

Min investment

₹1,08,000

Issue size

₹39.01 Cr

About the company

Liqvd Digital India Limited was started in 2013. It is a digital marketing and media company that helps brands build an online presence, reach the right audience and grow. Its services cover social media management, media planning and buying, online reputation management, creative content production, influencer marketing, search engine optimisation, performance marketing, and web and app development. Its clients range from large enterprises to mid-sized companies and direct-to-consumer brands, across IT and communications, FMCG, logistics, financial services, manufacturing and healthcare. The media side of the business plans and buys both digital and offline media, with the emphasis on measurable results and return on investment. The production side makes visual and multimedia content, including photography, video shoots, drone shoots, podcasts, animation and AI-generated content. It works from offices in Mumbai and Gurgaon and runs its own studio in Mumbai for content production. Through its association with AdLift Inc. it also has a presence in the United States.

Liqvd Digital India Limited is a digital marketing and media agency offering social media management, media planning and buying, SEO, performance marketing, influencer marketing, content production and web and app development. Running since 2013, it works from Mumbai and Gurgaon with an in-house studio and a US presence through AdLift Inc.

IPO details

Issue price: ₹54
Price band: ₹51 – ₹54
Face value: ₹5
Lot size: 2000
Min investment: ₹1,08,000
Issue size: ₹39.01 Cr
Sale type: Fresh capital cum OFS
Listing on: BSE SME
BSE scrip code: 7989
NSE symbol: LIQVD.BO

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	2,000	₹1,08,000
Retail (Max)	1	2,000	₹1,08,000
HNI (Min)	2	4,000	₹2,16,000

Investor reservation

CATEGORY	RESERVED
QIB	Up to 30% of the Net Offer
Retail	Not less than 35% of the Net Offer
NII	Not less than 35% of the Net Offer

Objects of the issue

1Funding of purchase consideration for acquisition of stake in AdLift Marketing Pvt.Ltd.9.00

2Funding capital expenditure to be incurred for establishment of a Full Scale Video Content Production Hub10.59

3Funding incremental working capital requirements6.57

Financials

Rs. Crore • restated

METRIC	31 Mar 2026
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

Key performance indicators

P/E Ratio

14.96

EPS (₹)

3.61

RoE

25.36%

RoCE

44.05%

RoNW

25.36%

PAT Margin

13.32%

EBITDA Margin

18.69%

Debt / Equity

0.29

NAV (₹)

21.45

✓ Strengths

• The margin is healthy for an agency, with a PAT margin of 13.32% and an EBITDA margin of 18.69% in FY2026.

• Return on capital employed was 44.05%, which is high because an agency needs little fixed capital.

• Debt is low at Rs 9.79 crore against a net worth of Rs 34.19 crore, a debt to equity ratio of only 0.29.

• The service range is wide, covering social media, media buying, SEO, performance marketing, influencer work, content production and web and app development, so a client can be served end to end.

• It has its own studio in Mumbai for photography, video, drone shoots, podcasts and animation rather than outsourcing production.

• Its clients span many sectors including FMCG, logistics, financial services, manufacturing and healthcare, which spreads the risk.

• It has a presence in the United States through its association with AdLift Inc.

• It has been in this business since 2013, which is a reasonable record in a field where agencies come and go.

⚠ Risks

• Only one year of financial data is available, for FY2026. With no earlier years there is no trend to judge, and no way to tell whether this year is representative.

• The issue is priced at about 14.96 times earnings on an EPS of Rs 3.61, and that EPS rests on a single year of reported financials.

• Promoter holding falls from 79.61% to 52.95% after the issue, leaving the promoters only just above a half share.

• Digital marketing is a people business with low switching costs. Clients move agencies readily and contracts are rarely long.

• Agency revenue is usually concentrated in a handful of large accounts, so losing one client can matter a great deal.

• A part of the money goes towards buying a stake in AdLift Marketing Private Limited. The terms and what the company gets for it are not visible from the data available here.

• Media buying revenue can be lumpy, as it depends on client campaign budgets that are set season by season.

• This is an SME issue, and SME shares usually trade in low volume after listing.

Promoters & holding

Arnab Mitra, Ashish Motilal Jalan, Vivek Suchanti and Concept Communication Ltd

Pre-issue promoter holding

79.61%

Post-issue promoter holding

52.95%

Data refreshed 07 Nov 2026, 04:53 pm IST. GMP is unofficial market sentiment, not investment advice.