Liqvd Digital India IPO
Liqvd Digital India IPO Details
-
Open Date
23 Sep 2026
-
Close Date
25 Sep 2026
- IPO Price Range
₹ 51 to ₹54
- IPO Size
₹ 39.01 Cr
Liqvd Digital India IPO Timeline
Last Updated: 22 September 2026 5:42 AM by 5paisa
Liqvd Digital India Limited is a digital marketing and communication solutions company offering services across creative strategy, social media management, media planning and buying, performance marketing, search engine optimisation, online reputation management, influencer marketing, content production, branding, web and application development and analytics.
The company operates through service verticals covering media, retainer-based engagements, projects and content production. It serves large enterprises, mid-sized companies and direct-to-consumer brands across sectors including IT and communications, FMCG and financial services. Liqvd operates under the Liqvd Asia brand and has offices in Mumbai and Gurugram.
Its capabilities have expanded through its controlling stake in AdLift Marketing Private Limited, which provides performance marketing, SEO and related digital services. AdLift's US subsidiary also provides the group with an international operating presence. Liqvd additionally operates an in-house content-production setup and proposes to build a larger full-scale video content production hub using IPO proceeds.
Established in: 2013
Chairman and Managing Director: Arnab Mitra
Peers:
R K Swamy Limited
Vertoz Limited
AdCounty Media India Limited
Liqvd Digital India Objectives
The company proposes to use the Net Proceeds from the Fresh Issue towards:
1. Funding the purchase consideration for acquisition of an additional 23.21% stake in AdLift Marketing Private Limited
2. Funding capital expenditure for establishing a Full Scale Video Content Production Hub
3. Funding incremental working capital requirements
4. Funding acquisitions and other strategic initiatives
5. General corporate purposes
Approximately ₹9.00 crore is proposed to be used towards acquiring the additional stake in AdLift Marketing, ₹10.59 crore towards the Full Scale Video Content Production Hub and ₹6.57 crore towards incremental working capital requirements.
The Company will not receive any proceeds from the Offer for Sale.
Liqvd Digital India IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹39.01 Cr |
| Offer For Sale | ₹4.87 Cr |
| Fresh Issue | ₹34.14 Cr |
Liqvd Digital India IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 4000 | ₹204000 |
| Retail (Max) | 2 | 4000 | ₹2,16,000 |
| S-HNI (Min) | 3 | 6000 | ₹3,06,000 |
| S-HNI (Max) | 9 | 18000 | ₹9,72,000 |
| B-HNI (Min) | 10 | 20000 | ₹10,20,000 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 18.05 | 24.87 | 60.24 |
| EBITDA | 3.81 | 3.93 | 11.26 |
| PAT | 1.90 | 2.25 | 8.03 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 13.82 | 33.33 | 57.83 |
| Share Capital | 3.00 | 3.75 | 7.97 |
| Total Liabilities | 11.72 | 13.94 | 23.64 |
| Particulars (In ₹Crores.) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (used in) Operating Activities | 1.40 | (0.46) | 1.52 |
| Net Cash Generated From / (used in) Investing Activities | 0.04 | (0.55) | (12.65) |
| Net Cash Generated From / (used in) Financing Activities | 0.97 | 13.87 | (2.28) |
| Net Increase (Decrease) in Cash and Cash Equivalents | 2.41 | 12.87 | (13.41) |
Strengths
1. Offers an integrated suite of digital marketing services spanning creative development, media buying, performance marketing, SEO, social media, influencer marketing and content production.
2. The AdLift acquisition has expanded the group's performance-marketing, SEO and international capabilities, including access to the US market through AdLift Inc.
3. Operates an in-house technology and content-production framework aimed at improving campaign execution, scalability and turnaround times.
4. Serves clients across multiple sectors and engagement formats, including long-term retainers, media mandates, individual projects and production assignments.
5. Revenue from operations increased materially in FY26, accompanied by growth in EBITDA and PAT.
Weaknesses
1. The top 10 clients accounted for approximately 52.12% of revenue in FY26, resulting in meaningful customer-concentration risk.
2. Revenue exposure remains concentrated in certain industries, with IT and communications, FMCG and financial services together contributing around 66.85% of FY26 revenue.
3. The company derives revenue from its corporate promoter, Concept Communication Limited, which contributed approximately 12.62% of FY26 consolidated revenue.
4. The business has experienced negative operating cash flow in certain periods and requires working capital to fund receivables and campaign execution.
5. A sizeable portion of historical revenue has been concentrated geographically, particularly in Maharashtra, although this concentration reduced in FY26.
Opportunities
1. India's expanding digital advertising expenditure provides a growing addressable market for integrated digital agencies.
2. Increasing adoption of short-form video, branded video content and digital-first advertising can support utilisation of the proposed Full Scale Video Content Production Hub.
3. Greater use of artificial intelligence, automation and data analytics can expand service capabilities and improve campaign execution.
4. AdLift provides Liqvd with scope to deepen its capabilities in SEO, performance marketing and AI-led content while extending its international reach.
5. Expansion into new sectors, geographies and client categories can reduce existing customer and geographic concentration.
Threats
1. Changes in advertising budgets or a reduction in digital spending by major clients could affect revenue and utilisation levels.
2. Competition remains high across digital agencies, performance-marketing specialists, content studios and technology-led advertising platforms.
3. Dependence on third-party digital platforms exposes the business to changes in algorithms, advertising policies, pricing models and platform availability.
4. Rapid technological change requires continued investment in talent, automation, analytics and AI tools to remain competitive.
5. Loss of major customers or deterioration in relationships with key clients could materially affect revenue because of the company's client concentration.
1. Revenue from operations increased from ₹18.05 crore in FY24 to ₹60.24 crore in FY26, although FY26 includes consolidated AdLift operations and is therefore not directly comparable with the earlier standalone periods.
2. The company provides integrated digital-marketing capabilities across creative, media, content, SEO, performance marketing and technology-led services.
3. Consolidation of AdLift has expanded Liqvd's presence in performance marketing and search while adding international exposure through AdLift Inc.
4. Fresh Issue proceeds are proposed to fund additional ownership in AdLift, a full-scale video content production facility and incremental working capital.
5. The company operates in India's growing digital advertising market, where mobile advertising, video content, performance marketing and digital spending by MSMEs are projected to remain important growth drivers.
India's digital advertising market has expanded rapidly as consumer activity, media consumption and brand spending shift towards digital channels. Digital advertising expenditure reached approximately ₹58,100 crore in FY25 after registering a CAGR of about 26% between FY19 and FY25.
The market is projected to reach approximately ₹1,17,526.6 crore by FY30, representing a projected CAGR of around 15.1% from FY25. Mobile advertising is expected to remain the largest driver, with spending projected to reach approximately ₹1,01,425.4 crore by FY30.
Digital advertising expenditure by startups and MSMEs is projected to grow at a CAGR of around 20.1% between FY25 and FY30, while spending by larger enterprises is also expected to expand.
Liqvd operates across several parts of this ecosystem through creative services, media, content production, performance marketing, SEO and technology-led solutions. Its proposed expansion into full-scale video production and the integration of AdLift broaden its exposure to growing areas such as video content, performance marketing, AI-led content creation and search optimisation.
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FAQs
Liqvd Digital India IPO opens from 23 September 2026 to 25 September 2026.
The size of the Liqvd Digital India IPO is approximately ₹39.01 crore, comprising a Fresh Issue of approximately ₹34.14 crore and an Offer for Sale of approximately ₹4.87 crore.
The price band of Liqvd Digital India IPO is fixed at ₹51 to ₹54 per share.
1. Login to your 5paisa demat account and select the issue in the current IPO section.
2. Enter the number of lots and the price at which you wish to apply for the Liqvd Digital India IPO.
3. Enter your UPI ID and click on submit. Your bid will then be placed with the exchange.
4. You will receive a mandate notification to block funds in your UPI app.
The market lot is 2,000 shares, while the minimum eligible application is two lots or 4,000 shares. This requires an investment of approximately ₹2,04,000 at the floor price of ₹51 per share. At the upper end of the price band, the same application amounts to ₹2,16,000.
The basis of allotment for the Liqvd Digital India IPO is expected to be finalised on 28 September 2026.
The Liqvd Digital India IPO is tentatively scheduled to list on BSE SME on 30 September 2026.
Indorient Financial Services Limited is the book-running lead manager for the Liqvd Digital India IPO.
The Fresh Issue proceeds are proposed to be used for:
1. Funding the purchase consideration for acquisition of an additional 23.21% stake in AdLift Marketing Private Limited
2. Funding capital expenditure for establishment of a Full Scale Video Content Production Hub
3. Funding incremental working capital requirements
4. Funding acquisitions and other strategic initiatives
5. General corporate purposes