Liqvd Digital India Sets Rs 39-Crore SME IPO Price Band at Rs 51-54

Digital marketing solutions provider Liqvd Digital India Ltd has announced that its upcoming initial public offering will open for public subscription on September 23, aiming to raise Rs 39 crore through the BSE SME platform. The company has established a price band of Rs 51 to Rs 54 per equity share for the three-day offering, which is scheduled to conclude on September 25.

The public issue features a fresh issue of shares alongside an offer-for-sale component by a key promoter. Market participants and institutional investors are tracking the upcoming listing as the firm moves to expand its operational footprint through targeted acquisitions and capital expenditure.

The Rs 39-crore public offering comprises a fresh issue of equity shares worth Rs 34.14 crore, complemented by an offer-for-sale of 9.02 lakh equity shares valued at Rs 4.87 crore at the upper end of the price band. The offer-for-sale portion is being executed by promoter Arnab Mitra. The equity shares carry a face value of Rs 5 each, and the issue is being conducted through a book-building process in compliance with regulatory standards.

Under the allocation framework set for the book-building process, not more than 30 percent of the net offer is designated for qualified institutional buyers. Meanwhile, not less than 35 percent of the shares are reserved for non-institutional bidders, and an equal proportion of not less than 35 percent is earmarked for retail individual bidders. Indorient Financial Services is serving as the book-running lead manager for the public issue, with Bigshare Services appointed as the registrar.

The proceeds generated from the fresh issuance are partitioned across several strategic corporate initiatives. The firm plans to allocate Rs 9 crore to fund the acquisition of a 23.21 percent stake in AdLift Marketing Pvt Ltd. Liqvd Digital India has already acquired a 76.79 percent stake in AdLift, a move that previously established operational ties with AdLift Inc in the United States and expanded the agency's service capabilities into performance monitoring, SEO, and artificial intelligence-driven content creation.

the company has earmarked Rs 10.59 crore to establish a full-scale video content production hub. Another Rs 6.57 crore will be directed toward incremental working capital requirements. The remainder of the proceeds is designated for unidentified acquisitions and general corporate purposes to support long-term growth across its Mumbai and Gurgaon operations.

Founded in 2013, Liqvd Digital India operates as a creative-first agency providing end-to-end digital marketing solutions, including social media management, media planning and buying, online reputation management, and influencer marketing. For fiscal year 2026, the company reported a consolidated revenue from operations of Rs 60.24 crore and a net profit before minority interest of Rs 8.03 crore.

The firm maintains significant business ties with its corporate promoter, Concept Communication Limited, an integrated communication agency. Consolidated figures show that revenue derived from Concept Communication accounted for 12.62 percent in fiscal 2026, compared to 44.12 percent on a standalone basis in fiscal 2025 and 14.48 percent in fiscal 2024. Subscription bidding for the SME offering will close on September 25 ahead of proposed listing on the BSE SME platform.