Liqvd Digital India IPO
Liqvd Digital India IPO is an SME IPO raising ₹39 Cr at ₹51 – ₹54 a share. It listed on 30 Sept 2026 at ₹54, −0.5% against its issue price of ₹54, and trades at ₹28 today (−48.9% since issue). It was subscribed 5.08× in total.
5.1 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs54. Checked: exchange issue size Rs39 Cr vs derived Rs39 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 6% above the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| R K Swamy Limited | 22.37× | 8.6% | ₹4.38 |
| Vertoz Limited | 11.75× | 12.31% | ₹3.06 |
| AdCounty Media India Limited | 8.08× | 27.96% | ₹9.65 |
| Yaap Digital Limited | 11.4× | 28.25% | ₹12.1 |
| This issue | 12.3× | 25.36% | ₹4.39 |
derived: cut-off price Rs54 / stated EPS Rs4.39 (FY26 (year ended March 31, 2026) Diluted EPS, consolidated; weighted average diluted EPS = 3.18). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.