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The IPO of Innovision witnessed a decline in subscription, with the issue recording bids of about 30% overall even after the company extended the subscription window following muted demand in the initial bidding period. The IPO had received 32% subscription by the end of Day 3, when the original bidding period closed. Despite the extension, the latest data shows participation slipping slightly.Within investor categories, the retail portion was subscribed 26%, while the non-institutional investor (NII) category saw 35% subscription. Demand from institutional investors remained relatively stronger, with the qualified institutional buyer (QIB) portion subscribed 95%.The IPO was originally open for subscription between March 10 and March 12, but the company decided to extend the bidding period until March 17 after the issue failed to garner full subscription in the initial window.Alongside the extension, Innovision also revised the price band downward to Rs 494-519 per share from the earlier Rs 521-548 range, effective March 13, in an attempt to attract additional investor interest.The company is looking to raise about Rs 323 crore through the public issue. The offer comprises a fresh issue of Rs 255 crore and an offer for sale worth Rs 68 crore by existing shareholders.Grey market indicators also reflect the cautious sentiment around the offering. The IPO is currently commanding a grey market premium of around 0%, signalling expectations of a flat listing.Innovision operates in the manpower services and infrastructure support sector, offering workforce solutions, toll plaza management and skill development training to enterprises and infrastructure operators across India.The company initially began operations in manned private security services, before expanding into broader manpower outsourcing solutions. It subsequently entered the skill development segment in FY14 and later moved into toll management services from FY19.Currently, Innovision operates across 23 states and five union territories, providing operational and workforce management services to clients through long-term contracts and service agreements.Financially, the company has posted strong revenue growth over the past few years. Revenue increased to Rs 896 crore in FY25, compared with Rs 512 crore in FY24 and Rs 258 crore in FY23.Profit after tax also rose to Rs 29 crore in FY25, up from Rs 10 crore in FY24 and Rs 9 crore in FY23. However, profitability remains modest given the nature of the business. The company reported an EBITDA margin of around 5.78% in FY25, reflecting the manpower-intensive nature of its operations.Proceeds from the fresh issue are proposed to be utilised for repayment or prepayment of certain borrowings, funding working capital requirements and general corporate purposes.

Domestic production of Liquefied Petroleum Gas rose 30% on Friday as the government moved to strengthen fuel availability and urged consumers not to panic over supplies, according to the petroleum ministry.The increase comes at a time when the government said refineries are running at full capacity and inventories remain sufficient to meet demand for major fuels. Officials said supplies of cooking gas and transport fuels continue without disruption.Also Read: The Iran war puts India’s dosa and AI dreams on iceSujata Sharma, Joint Secretary (Marketing & Oil Refinery) at the Ministry of Petroleum and Natural Gas, said country’s refining capacity stands at 258 million metric tonnes and refineries are currently operating at or above 100% utilisation levels."As far as crude oil is concerned, we possess a refining capacity of 258 million metric tons. We are self-sufficient in the production of petrol and diesel; consequently, there is no need to import these fuels into India. All our refineries are currently operating at 100% capacity or higher. The refineries hold adequate inventories of crude oil, and furthermore, supplies are being consistently maintained," she said in a media briefing.The government also said supplies of Piped Natural Gas to households and Compressed Natural Gas for vehicles are being maintained without cuts. Also Read: Why kerosene and coal are making a temporary comeback in India"The supply of PNG (Piped Natural Gas) to domestic consumers and CNG (Compressed Natural Gas) is being ensured without any interruptions or cuts. Given this situation, there is absolutely no need for panic...Furthermore, regarding commercial consumers in our major urban cities and centers—many of whom are currently facing difficulties due to their reliance on LPG supplies—the Government of India is making every effort to address their concerns. We appeal to all such commercial consumers to contact their local CGD (City Gas Distribution) network provider or their designated dealer to obtain a PNG connection," Sharma said. Other measuresWith LPG bookings surging to 75.7 lakh, sharply higher than the pre-war average of 55.7 lakh, this indicates panic booking by consumers.Authorities have said uninterrupted supply to households is being ensured, while commercial cylinder distribution has been left to state governments to prioritise based on local needs.Amid rising concern in some regions, the chief ministers of Yogi Adityanath and Bhajan Lal Sharma have reviewed the situation in their respective states and monitored supply arrangements.To support alternative fuel availability, the government said an additional allocation of 48,000 kilolitres of Kerosene has been approved.At the same time, Coal India Limited has issued orders to activate other forms of fuel to help industries and commercial establishments manage supply disruptions.The government also warned against hoarding of LPG cylinders and said that action is being taken against black marketing of the same.The oil ministry official reiterated that oil companies are increasing production and adjusting allocations to stabilise supplies as demand rises.The great LPG panicIndia has faced a short-term shortage of Liquefied Petroleum Gas in recent days after supply disruptions tightened availability of commercial cylinders used by restaurants and small businesses. The shortage has hit the hospitality sector in several cities, with restaurants cutting operating hours, trimming menus or temporarily shutting kitchens due to lack of cooking gas supplies. Industry representatives told the publication that commercial LPG deliveries slowed in multiple regions, affecting food outlets and cloud kitchens. To maintain household availability, oil companies prioritised domestic consumers, which tightened supplies for commercial users. Authorities also directed refiners to maximise LPG production and divert supplies where required to ensure households continue to receive cylinders without disruption. The pressure has also spilled over to alternative fuels. In some urban areas, higher demand for Piped Natural Gas from commercial establishments increased after LPG shortages, putting additional strain on city gas distribution networks.

Central Mine Planning and Design Institute Ltd (CMPDI), a consultancy arm of Coal India, will open its IPO for subscription on March 20, with the public issue set to close on March 24. The IPO comprises an offer for sale of 10.71 crore shares, with the government and Coal India diluting part of their stake in the company.As the issue is entirely an OFS, CMPDI will not receive any proceeds from the offer, and the funds raised will go to the selling shareholders. The company plans to list its shares on both the BSE and the NSE, with a tentative listing date of March 30.CMPDI IPO price bandThe price band, lot size and total issue size in rupee terms are yet to be announced. IDBI Capital Markets has been appointed as the book-running lead manager, while Kfin Technologies will act as the registrar to the issue.CMPDI IPO structureUnder the proposed allocation structure, about 50% of the offer will be reserved for qualified institutional buyers (QIBs), 35% will be allocated to retail investors and a minimum of 15% to non-institutional investors. The IPO will also have shareholder and employee reservation categories, with eligibility for the shareholder quota extended to investors holding shares in Coal India.About CMPDIIncorporated in 1974, CMPDI provides consultancy and technical services across the entire value chain of coal and mineral exploration, mine planning and mine design. The company supports mining projects through services such as geological exploration, environmental planning, remote sensing, surveying and infrastructure engineering.Also read:Explained: Why traders aren’t holding on to gold since Middle East war despite safe haven appealCMPDI is one of the largest coal and mineral consultancy companies in India, commanding a 61% market share in FY25, and serves as the preferred consulting partner to Coal India, the world’s largest coal producer.The company operates through multiple business verticals, including geological exploration and resource evaluation, mine planning and design, environmental monitoring, and geomatics and remote sensing services.CMPDI has significant technical infrastructure to support these activities. As of March 2025, the company operated one of the largest fleets of exploratory drilling equipment for coal and mineral exploration in India.Its operations are supported by seven regional institutes located in key coal-producing states such as Madhya Pradesh, Chhattisgarh, Odisha and West Bengal, which help execute projects and coordinate closely with mining operations on the ground.The company has also demonstrated capabilities in planning large-scale mining projects. It has designed open-cast mines with production capacities of up to 85 million tonnes annually and mining depths reaching 420 metres.Also read: $100 crude gives Rs 20 lakh crore shock to Nifty bulls this week. Best time to buy the fear?In addition, CMPDI operates eight laboratories across major coalfields that specialise in coal testing and quality analysis. The company also participates in mineral exploration initiatives supported by the National Mineral Exploration Trust (NMET). As of December 2025, it had submitted 11 exploration proposals for minerals such as bauxite, copper, magnetite and zinc, of which six projects were approved and four completed.FinancialsFinancially, CMPDI has delivered consistent growth in recent years. The company reported revenue of Rs 2,177 crore in FY25, up from Rs 1,770 crore in FY24. Profit after tax rose to Rs 667 crore in FY25, compared with Rs 503 crore a year earlier.For the nine months ended December 2025, the company posted revenue of Rs 1,544 crore and profit after tax of Rs 425 crore.The government currently holds CMPDI through the President of India acting via the Ministry of Coal and Coal India, which together own 100% of the company prior to the IPO.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)