Liqvd Digital India has filed its Draft Red Herring Prospectus (DRHP) for a proposed INR 37 crore SME initial public offering (IPO).

The proposed public issue comprises a fresh issue of equity shares aggregating up to INR 37 crore, along with an offer for sale by certain promoter shareholders. The company plans to list its equity shares on the BSE SME platform, subject to requisite approvals and market conditions.

According to the DRHP, a portion of the proceeds from the fresh issue will be used to acquire the remaining 23.21% stake in AdLift Marketing Private Limited. Liqvd Digital acquired a majority stake in AdLift in April 2025 as part of a multi-phase acquisition.

The company has also earmarked INR 915.45 lakh from the fresh issue proceeds to establish a Full Scale VCP Hub. The proposed investment aims to strengthen its technology and AI capabilities as digital marketing increasingly evolves towards automation and AI-led solutions.

Liqvd Digital has been investing in proprietary digital platforms and AI-enabled capabilities to support audience targeting, campaign delivery, content automation and performance marketing. 

Among these offerings is Tesseract, an AI lab developed by the AdLift Group, which provides tools for campaign automation, audience insights and tracking brand visibility across AI-driven search ecosystems, including ChatGPT, Perplexity and Gemini.

Arnab Mitra, chairman and managing director, Liqvd Digital India, said, "Brands today are looking for partners who can bring together creativity, technology and performance under one roof. That has been our focus, and the proposed IPO marks an important milestone in our journey. AI is already changing the way content is created and personalised. It is helping reduce timelines, improve efficiencies and unlock new possibilities for brands. While technology is playing a bigger role than ever before, we believe human creativity remains at the heart of great marketing. Our approach is to combine the power of AI with creative thinking to deliver better outcomes at scale."