Liqvd DigitalIPO Review — Financials, Valuation & Peers
A data-only look at the Liqvd Digital IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2026 | 60.89 | 8.03 | 11.26 | 34.19 | 57.83 | 9.79 | 5.03 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 10.74x
- P/E (post-issue)
- 14.96x
- RoNW
- 25.36%
- RoE
- 25.36%
- RoCE
- 44.05%
- Debt / Equity
- 0.29
- EPS (pre-issue)
- ₹5.03
- EPS (post-issue)
- ₹3.61
- EBITDA Margin
- 18.69%
- PAT Margin
- 13.32%
- P/BV
- 2.52x
- NAV / share
- ₹21.45
- Market Cap
- ₹120.22 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Liqvd Digital | — | 21.45 | — | 25.36% | — | Restated |
| Adcounty Media India Ltd. | — | 47.53 | 8.08x | 27.96% | 1.64x | — |
| R K Swamy Ltd. | — | 104.71 | 22.37x | 8.6% | 0.66x | — |
| Vertoz Ltd. | — | 27.35 | 11.75x | 12.31% | 1.3x | — |
| Yaap Digital Ltd. | — | 51.82 | 11.4x | 28.25% | 2.71x | — |
Peer group as disclosed in the offer document, figures as of 30 Mar 2026. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Arnab Mitra, Ashish Motilal Jalan, Vivek Suchanti, Concept Communication Ltd.</p>
- Holding (pre-issue)
- 78.04%
- Holding (post-issue)
- 51.83%
- Dilution
- 26.21%
Analysis in brief
Margin and return profile
Beyond the headline pricing, the disclosed operating profile stands on its own numbers. Liqvd Digital operates at an EBITDA margin of 18.69% and a net (PAT) margin of 13.32% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 44.05% and a return on equity (RoE) of 25.36%. At the upper band, the post-issue market capitalisation works out to about ₹120.22 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward funding capital expenditure to be incurred for establishment of a full scale video content production hub (₹10.59 crore), alongside funding of purchase consideration for acquisition of stake in adlift marketing pvt.ltd. (₹9 crore). In all, 5 objects are disclosed.
Financials
In FY2026, Liqvd Digital reported revenue of ₹60.89 crore and a net profit of ₹8.03 crore. Net worth stood at ₹34.19 crore at the end of FY2026. At the upper band, that puts the issue at roughly 10.7× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 14.96× post-issue earnings and 2.52× book value, against a return on net worth of 25.36% and a debt-to-equity ratio of 0.29. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Adcounty Media India Ltd. and R K Swamy Ltd., with a median peer P/E of about 11.6×. The issue's own post-issue P/E works out to 14.96×.
Promoters
The promoters of the company are <p>Arnab Mitra, Ashish Motilal Jalan, Vivek Suchanti, Concept Communication Ltd.</p>. Promoter holding stands at 78.04% before the issue and comes down to 51.83% after listing.
Frequently asked questions
- What is the reservation split in the Liqvd Digital IPO?
- Of the total shares offered, retail investors get 55.04%, QIBs 29.94%, non-institutional investors 15.01%.
- Who are the promoters of Liqvd Digital and what is their holding?
- The promoters are <p>Arnab Mitra, Ashish Motilal Jalan, Vivek Suchanti, Concept Communication Ltd.</p>. Promoter holding is 78.04% before the issue and 51.83% after listing.
- What is the P/E ratio of the Liqvd Digital IPO?
- At the upper price band, the Liqvd Digital IPO is valued at 10.74× pre-issue earnings and 14.96× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Liqvd Digital IPO?
- The net proceeds go primarily toward funding capital expenditure to be incurred for establishment of a full scale video content production hub, among 5 disclosed objects.