Bench Mark Infotech Services
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 46.63×
- Big non-institutionalbNII · above ₹10 lakh
- 126.42×
- Small non-institutionalsNII · ₹2–10 lakh
- 80.03×
- Retail individualRII · up to ₹2 lakh
- 73.15×
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 15 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 05 Oct 2026 | ₹15 | — | ₹13,700 | ₹125 | ₹18,000 |
| 04 Oct 2026 | ₹25 | — | ₹22,800 | ₹135 | ₹30,000 |
| 03 Oct 2026 | ₹25 | — | ₹22,800 | ₹135 | ₹30,000 |
| 02 Oct 2026 | ₹25 | — | ₹22,800 | ₹135 | ₹30,000 |
| 01 Oct 2026 | ₹25 | — | ₹22,800 | ₹135 | ₹30,000 |
| 30 Sep 2026 | ₹26 | — | ₹23,700 | ₹136 | ₹31,200 |
| 29 Sep 2026 | ₹28 | — | ₹25,500 | ₹138 | ₹33,600 |
| 28 Sep 2026 | ₹29 | — | ₹26,400 | ₹139 | ₹34,800 |
| 27 Sep 2026 | ₹18 | — | ₹16,400 | ₹128 | ₹21,600 |
| 26 Sep 2026 | ₹16 | — | — | ₹126 | ₹19,200 |
| 25 Sep 2026 | ₹16 | — | ₹14,600 | ₹126 | ₹19,200 |
| 24 Sep 2026 | ₹0 | — | ₹0 | ₹110 | ₹0 |
| 23 Sep 2026 | ₹12 | — | ₹10,900 | ₹122 | ₹14,400 |
| 22 Sep 2026 | ₹12 | — | ₹10,900 | ₹122 | ₹14,400 |
| 21 Sep 2026 | ₹12 | — | ₹10,900 | ₹122 | ₹14,400 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Bids received
The demand behind each multiple — what was offered, what was bid for, and what those bids are worth
| Category | Shares offered | Shares bid for | Bids (₹ Cr) | Times |
|---|---|---|---|---|
| Qualified institutional | 7,33,200 | 6,49,72,800 | ₹715 Cr | 88.62× |
| Non-institutional | 5,50,800 | 7,54,15,200 | ₹830 Cr | 136.92× |
| Big non-institutionalwithin NII | 3,67,200 | 5,68,24,800 | ₹625 Cr | 154.75× |
| Small non-institutionalwithin NII | 1,83,600 | 1,85,90,400 | ₹204 Cr | 101.25× |
| Retail individual | 12,84,000 | 12,44,18,400 | ₹1,369 Cr | 96.90× |
| Total | 25,68,000 | 26,48,06,400 | ₹2,913 Cr | 103.12× |
Times subscribed is the figure published for each category, not shares bid for divided by shares offered — a category's multiple is struck against its own allottable base, which is not always the offered count shown beside it. Observed 29 Sept, 06:02 pm IST; the registrar publishes the final basis of allotment.
Issue details
- IPO date
- 25 Sep 2026 – 29 Sep 2026
- Listing date
- 05 Oct 2026
- Face value
- ₹10 per share
- Price band
- ₹104 – ₹110
- Lot size
- 1,200 shares
- Sale type
- Fresh capital cum OFS
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹42.44 Cr
- Fresh issue
- ₹35.27 Cr 32,06,800 shares
- Offer for sale
- ₹5.04 Cr 4,58,000 shares
- Market cap at offer price
- ₹157 Cr
- Promoter holding
- 99.99% → 72.97% pre-issue → post-issue
- ISIN
- INE2OKU01014
- CIN
- U72200WB2007PLC112476
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- GYR Capital Advisors Pvt.Ltd.
- Registered office
- P-118, Swami Swarupananda Sarani, 4th Floor Kolkata, West Bengal, India, 700054
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 7,33,200 | 28.55% | 26.55% |
| Anchor investor · within QIB | 10,96,800 | — | 39.72% |
| NII (HNI) | 5,50,800 | 21.45% | 19.95% |
| bNII > ₹10L · within NII | 3,67,200 | — | 13.30% |
| sNII < ₹10L · within NII | 1,83,600 | — | 6.65% |
| Retail (RII) | 12,84,000 | 50.00% | 46.50% |
| Employee | 0 | — | 0.00% |
| Market maker | 1,93,200 | — | 7.00% |
| Total issue | 27,61,200 | — | 100.00% |
Net offer to the public of 25,68,000 shares, out of a total issue of 27,61,200. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 1,200 shares per lot, in multiples, at ₹110
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,32,000 |
| S-HNI (min) | 2 | 2,400 | ₹2,64,000 |
| S-HNI (max) | 7 | 8,400 | ₹9,24,000 |
| B-HNI (min) | 8 | 9,600 | ₹10,56,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹110 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 9.40 | 7.16 |
| P/E (×) | 11.70 | 15.36 |
| Price to book (×) | 4.50 | — |
| Market cap | — | ₹157 Cr |
Key performance indicators
Latest reported period, standalone
- Return on net worth
- 38.48%
- ROCE
- 61.00%
- Debt / equity
- 0.10
- PAT margin
- 16.88%
- EBITDA margin
- 21.97%
- NAV per share
- ₹24.42
- Price to book
- 4.50
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
Standalone ·₹ crore unless a row shows % or ×, as reported in the offer document
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 63.99 | 50.8 | 34.76 |
| Revenue from operations | 60.53 | 50.04 | 34.1 |
| Other income | 3.46 | 0.76 | 0.67 |
| Total expenses | 50.36 | 42.85 | 32.7 |
| Operating profit | 13.63 | 7.95 | 2.06 |
| Operating margin | 21.30% | 15.65% | 5.93% |
| Profit before tax | 13.64 | 7.94 | 2.06 |
| Profit after tax | 10.22 | 5.83 | 1.48 |
| PAT margin | 15.97% | 11.48% | 4.26% |
| Balance sheet | |||
| Total assets | 74.05 | 60.39 | 39.33 |
| Current assets | 64.04 | 52.15 | 33.95 |
| Current liabilities | 46.46 | 43.76 | 28.56 |
| Total liabilities | 47.5 | 44.06 | 28.83 |
| Net worth | 26.55 | 16.33 | 10.5 |
| Current ratio | 1.38× | 1.19× | 1.19× |
| Return on equity | 38.49% | 35.70% | 14.10% |
| Cash flow | |||
| Operating cash flow | -6.77 | 6.54 | 4.87 |
| Investing cash flow | -1.06 | -0.92 | 0.19 |
| Financing cash flow | 1.67 | -0.84 | -3.22 |
| Net cash flow | -6.15 | 4.78 | 1.84 |
Objects of the issue
Stated use of the net proceeds— open a row for the issuer's full explanation
1 Funding the Working Capital Requirements ₹30 Cr
The company proposes to utilise up to a specified amount in lakhs from the Net Proceeds towards funding its working capital requirements in Fiscal 2027 and 2028, to support anticipated growth in integrated IT infrastructure project operations.
2 General Corporate Purposes —
A portion of the Net Proceeds is intended to be utilized for general corporate purposes, not exceeding fifteen percent of the amount raised or Rs. 10 Crores, whichever is less, as per SEBI ICDR Regulations.
1 of 2 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About Bench Mark Infotech Services
Bench Mark Infotech Services Limited, incorporated on January 9, 2007, and converted to a public limited company on June 22, 2026, is an IT infrastructure solutions provider headquartered in Kolkata, West Bengal. The company generates revenue through the provision of integrated IT infrastructure projects for government departments, public sector entities and private sector customers. Its business model involves procurement of IT equipment (switches, routers, wireless devices, security devices), execution of turnkey IT solutions projects with defined billing milestones, leasing/renting of fibre infrastructure, and provision of facility management and support services. As of March 31, 2026, the company derived 73.10% of its revenue from government customers and 26.90% from non-government customers. The company's top ten customers contributed 94.19% of revenue in FY 2026. Trade receivables stood at ₹5,497.96 lakhs as of March 31, 2026, representing 90.83% of revenue from operations, reflecting the working capital intensive nature of project-based operations.
Management
Vineet Kumar Gupta
MD
Juli Gupta
Director
Strengths
As stated in the offer document
Integrated Business Model with End-to-End Service Capabilities Under One Roof
The company operates an integrated business model providing design, supply, installation, commissioning, AMCs, and fibre optic infrastructure solutions under one roof, enabling complete project lifecycle management, improved operational efficiency, and both project-based and recurring revenue streams.
Long Standing Customer Relationships with Repeat Order Flow
The company has maintained long-standing relationships with government, PSU, and institutional clients, with repeat customers accounting for 56.10% (FY2026), 58.33% (FY2025), and 67.74% (FY2024) of total customers, and average top customer relationship duration of 11 years in FY2026.
Established Track Record of Execution Across Diverse Project Segments
The company has an established track record of executing IT infrastructure, AMC, and fibre optic projects across government, PSU, institutional, and private sector clients in India, with revenue growing from ₹3,409.51 Lakhs in FY2024 to ₹6,052.76 Lakhs in FY2026 at a CAGR of 33.24%.
Relationships with OEMs and Vendors
The company maintains relationships with multiple OEMs, authorized distributors, and technology partners, and is empanelled with BSNL as a National Level System Integrator and RailTel as a Business Partner, with registered vendor status with NTPC, SAIL, IOCL, PGCIL, AAI, and ONGC, among others.
Experienced Promoter and Management Team with Industry Experience
The company is led by Mr. Vineet Kumar Gupta, Promoter and CMD with over two decades of IT and networking industry experience, supported by a qualified management team with expertise in engineering, project management, procurement, system design, and customer support.
Risk factors
As stated in the offer document
High Customer Concentration Risk
The company's top 10 customers contribute 94.19%, 89.08%, and 91.87% of total revenue from operations for FY2026, FY2025, and FY2024 respectively, with the single largest customer accounting for up to 60.93% of revenue in FY2025. The company has no long-term or exclusive arrangements with any customers, making it highly vulnerable to loss of key relationships or reduction in order volumes.
Heavy Dependence on Government/PSU Contracts via Competitive Tendering
Government customers accounted for 73.10%, 95.01%, and 92.91% of revenue in FY2026, FY2025, and FY2024 respectively, with contracts awarded through competitive tender processes. The company's bid-to-win ratio has declined from 41.07% in FY2024 to 30.43% in FY2026, and any policy changes, budget cuts, or project delays by government entities could materially impact revenue.
Significant and Growing Trade Receivables with High Aging Risk
Trade receivables surged to ₹5,497.96 lakhs as of March 31, 2026, representing 90.83% of revenue from operations, with receivable holding days increasing to 280 days in FY2026 from 239 days in FY2024. Of these, ₹1,017.21 lakhs (38.31% of net worth) have been outstanding for more than one year, while the provision for doubtful debts stands at only ₹41.38 lakhs, which may be insufficient.
Negative Operating Cash Flows
The company reported negative cash flows from operating activities of ₹676.52 lakhs in FY2026, compared to positive cash flows of ₹653.91 lakhs and ₹486.62 lakhs in FY2025 and FY2024 respectively. Continued negative cash flows could adversely affect liquidity, operational capacity, and the trading price of equity shares.
Geographic Revenue Concentration
The company derives 80.04%, 85.39%, and 64.00% of its revenue from operations from just three states — Bihar, Odisha, and West Bengal — in FY2026, FY2025, and FY2024 respectively. Any adverse economic, regulatory, or political developments in these states could disproportionately impact the company's financial performance.
Historical Statutory Non-Compliances and Regulatory Risk
The company has identified multiple historical non-compliances under the Companies Act, 2013, including incorrect financial statement filings, failure to create charges with the Registrar of Companies, non-disclosure of Securities Premium separately, and delayed MSME payments resulting in ₹17.93 lakhs in penal interest and ₹388.40 lakhs disallowed under Section 43B(h) of the Income Tax Act. Regulatory proceedings, penalties, or compounding fees arising from these matters could adversely affect the company's financial condition and reputation.
Company Analysis
from RHPBench Mark Infotech Services Limited provides IT infrastructure solutions and services spanning IT equipment procurement, turnkey project execution, fibre infrastructure leasing, and facility management across government and private sector customers in India.
Bench Mark Infotech Services Limited, incorporated on January 9, 2007, and converted to a public limited company on June 22, 2026, is an IT infrastructure solutions provider headquartered in Kolkata, West Bengal. The company generates revenue through the provision of integrated IT infrastructure projects for government departments, public sector entities and private sector customers. Its business model involves procurement of IT equipment (switches, routers, wireless devices, security devices), execution of turnkey IT solutions projects with defined billing milestones, leasing/renting of fibre infrastructure, and provision of facility management and support services. As of March 31, 2026, the company derived 73.10% of its revenue from government customers and 26.90% from non-government customers. The company's top ten customers contributed 94.19% of revenue in FY 2026. Trade receivables stood at ₹5,497.96 lakhs as of March 31, 2026, representing 90.83% of revenue from operations, reflecting the working capital intensive nature of project-based operations.
Objects of the Issue
- Meeting working capital requirements and general corporate purposes p.48
- Funding the working capital requirements of our company Upto ₹3,000.00 lakhs p.92
- General Corporate Purposes [●] p.92
- Objects of the Offer not explicitly stated in this part of the document
Issue Structure
- Total Issue
- Up to 38,58,000 Equity Shares of face value of ₹10 each aggregating up to ₹[●] lakhs
- Fresh Issue
- Up to 34,00,000 Equity Shares of face value of ₹10 each aggregating to ₹[●] lakhs
- Offer for Sale
- Up to 4,58,000 Equity Shares of face value of ₹10 each by Mr. Vineet Kumar Gupta aggregating to ₹[●] lakhs
- Price Band
- [●] to [●] per Equity Share
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹10 per Equity Share
Business Model
Revenue is generated primarily through: (1) provision of IT infrastructure solutions and turnkey projects for government, PSU and private sector customers with milestone-based billing; (2) procurement and supply of IT equipment including switches, routers, wireless devices, security devices to customers; (3) leasing and renting of fibre optic infrastructure through IP-I (Infrastructure Provider Category-I) registration with the Department of Telecommunications; (4) provision of facility management and support services including Annual Maintenance Contracts (AMCs) and technical support.
Business Segments
SWOT Analysis
- • Promoters acquired shares at substantially below face value(p.49)
- • Strong financial performance with high profitability growth(p.103)
- • High Return on Equity demonstrates efficient capital deployment(p.103)
- • Strong EBITDA margins showing operational efficiency(p.103)
- • Revenue growth outpacing market conditions(p.103)
- • Low financial leverage providing borrowing capacity(p.103)
- • Integrated business model with end-to-end service capabilities under one roof(p.147)
- • Long-standing customer relationships with high repeat order flow (56% repeat customers)(p.147)
- • Established track record executing diverse projects across sectors and geographies(p.148)
- • Strong revenue growth from ₹3,409.51 Lakhs (FY2024) to ₹6,052.76 Lakhs (FY2026), CAGR 33.24%(p.132)
- • Empaneled with BSNL as National Level System Integrator and RailTel as Business Partner(p.130)
- • Experienced promoter with over two decades in IT and networking industry(p.149)
- • Strong profitability metrics: 21.97% EBITDA margin and 16.88% PAT margin in FY2026(p.141)
- • Diversified IT infrastructure solutions portfolio spanning networking, surveillance, fiber optic, and data centre services(p.205)
- • Established track record with major government and PSU clients including Central Government, Coal India, SECL(p.172)
- • Strong profitability growth with PAT increasing from ₹148.02 lakhs (FY2024) to ₹1,021.80 lakhs (FY2026)(p.203)
- • Infrastructure Provider Category I (IP-I) registration enabling telecom infrastructure services(p.172)
- • Recent quality and security certifications (ISO 9001:2015 and ISO/IEC 27001:2022)(p.172)
- • Recognition as Partner of the Year by Juniper Networks for North & East Regions(p.172)
- • 19+ years of experience in IT and digital infrastructure solutions(p.247)
- • Empanelled with BSNL and RailTel enabling access to central government and PSU procurement(p.247)
- • ISO certifications demonstrating quality and security standards compliance(p.248)
- • Strong profitability growth with 33.24% CAGR in revenue(p.248)
- • Improved operating margins with EBITDA margin of 21.97% in FY26(p.249)
- • Infrastructure Provider Category-I registration enabling telecom asset operations(p.248)
- • High customer concentration with top 10 customers accounting for 94.19% of revenue(p.27)
- • High supplier concentration with top 10 suppliers accounting for 59.60% of purchases(p.27)
- • Significant trade receivables concentration representing 90.83% of revenue with substantial aging(p.32)
- • Negative operating cash flows in the past three financial years(p.33)
- • High employee attrition rate of 31.46% in FY 2026(p.34)
- • Leased office premises with risk of non-renewal or increased rental costs(p.34)
- • Historical non-compliances and clerical errors in statutory filings and disclosures(p.35)
- • Unsecured promoter loans of ₹137.70 lakhs without fixed repayment schedule(p.38)
- • No alternate funding sources if IPO fails or is delayed(p.49)
- • Dependence on long receivable collection cycles from government and PSU customers(p.96)
- • Relatively small scale compared to industry peers(p.106)
- • Significant increase in working capital requirements ahead(p.93)
- • High concentration in top customer—top 1 customer represents 25.21% of revenue(p.154)
- • Declining bid-to-win ratio from 41.07% (FY2024) to 30.43% (FY2026)(p.153)
- • High employee attrition rate of 31.46% in FY2026(p.158)
- • Geographic revenue concentration—Bihar, Odisha, West Bengal account for 80.04% of FY2026 revenue(p.153)
- • Small employee base of 45 employees as of FY2026 end, limiting project execution capacity(p.158)
- • Limited presence in organized supplier base—top 5 suppliers account for 46.64% of purchases(p.155)
- • High dependence on two promoters holding 99.99% of pre-IPO equity capital(p.189)
- • Significant financial leverage with short-term borrowings of ₹197.61 lakhs and long-term borrowings of ₹73.03 lakhs(p.202)
- • Personal guarantees extended by promoters on company loans creating contingent liability(p.179)
- • High concentration of trade receivables with old outstanding balances exceeding 3 years(p.228)
- • Company accepted unsecured loans from non-related individuals in violation of Companies Act provisions (now repaid)(p.200)
- • Significant dependence on few major customers for revenue(p.249)
- • Reliance on few OEM suppliers without long-term contracts(p.249)
- • Concentration of business operations in three states(p.250)
- • High trade receivables outstanding with extended payment cycles(p.262)
- • Key person dependence on Promoter and Chairman for strategic direction(p.250)
- • Negative operating cash flow in FY26 of ₹676.52 lakhs(p.264)
- • Listing will enhance corporate image and create public market liquidity(p.91)
- • Planned working capital funding from IPO to support business expansion(p.93)
- • Strategic expansion into higher-value integrated IT infrastructure projects(p.96)
- • Market making arrangement ensures post-listing liquidity(p.75)
- • India's IT services market projected to reach US$ 2.85 trillion by 2033 at 8.35% CAGR(p.120)
- • Network as a Service (NaaS) market growing at 25.5% CAGR, reaching USD 185 billion by 2033(p.122)
- • India's data center capacity projected to reach ~4.5 GW by 2030 with $20-25 billion investments(p.128)
- • India's IT industry revenue projected to reach US$ 350 billion by 2026 and US$ 500 billion by 2030(p.124)
- • Strategic expansion into data center, AI lab solutions, and cybersecurity offerings(p.150)
- • India's public cloud services market expected to grow to US$ 17.8 billion by 2027 at 23.4% CAGR(p.127)
- • Strong government focus on digitization via e-governance, smart cities, and education technology initiatives(p.128)
- • Government's focus on green energy and renewable sources creating demand for fiber optic and telecom infrastructure(p.165)
- • Expansion of telecom and data centre infrastructure across India with 100% FDI permitted in the sector(p.167)
- • Growing adoption of SD-WAN and Last Mile Connectivity solutions across government and enterprise sectors(p.172)
- • Cyber security and data security solutions demand driven by regulatory requirements(p.171)
- • Access to capital markets through IPO to fund expansion and reduce financial leverage(p.178)
- • Expansion into data storage and data centre solutions segment(p.247)
- • Offering AI Lab Solutions and edge computing infrastructure(p.247)
- • Expansion in cybersecurity and managed security services offerings(p.247)
- • Growing government and PSU project execution volumes(p.248)
- • Increasing order inflows from government e-procurement platforms(p.248)
- • Significant proportion of revenue from government contracts awarded through competitive tenders(p.28)
- • High geographic concentration with 80.04% of revenue from Bihar, Odisha and West Bengal(p.29)
- • Dependence on few OEM vendors/suppliers without long-term contracts(p.27)
- • Volatility in IT equipment prices and availability affecting cost and supply(p.31)
- • Intense competition in IT infrastructure and solutions market from larger and better-resourced companies(p.33)
- • Data protection and cybersecurity regulatory requirements continue to evolve(p.41)
- • Dependence on promoter knowledge and relationships for business continuity(p.31)
- • Tender process subject to changes in qualification criteria and unexpected delays(p.31)
- • Shares have never been publicly traded with no assurance of active market(p.49)
- • No assurance shares will be listed on NSE EMERGE in timely manner(p.49)
- • High stock price volatility and potential for significant losses(p.49)
- • Circuit breaker restrictions may limit shareholder's ability to sell(p.50)
- • Risk of natural calamities and force majeure events(p.51)
- • Evolving regulatory environment and tax law uncertainties(p.51)
- • Indian economic slowdown could adversely affect business(p.52)
- • Inflation may reduce profit margins if costs cannot be passed to customers(p.53)
- • Foreign investor participation limited by RBI regulations(p.53)
- • Intense competition in IT services and networking market with low switching costs(p.160)
- • Shortage of skilled IT professionals in cloud, AI, cybersecurity and DevOps limiting service delivery(p.121)
- • Regulatory compliance risks including Digital Personal Data Protection Act 2023 with penalties up to ₹250 crore(p.127)
- • Heavy dependence on government sector revenue—73.10% of FY2026 revenue from government clients(p.153)
- • Dependence on third-party OEM suppliers and vendors for hardware procurement(p.148)
- • Cyber incidents in India doubled from 2022 to 2024, increasing security compliance costs(p.127)
- • Competitive pressure from established IT infrastructure and telecom service providers(p.168)
- • Regulatory changes in electricity sector and telecom licensing affecting infrastructure business(p.165)
- • Technology obsolescence risk and need for continuous capital investment in infrastructure upgrades(p.165)
- • Dependence on government projects and PSU contracts subject to policy changes and budget constraints(p.172)
- • Labor law compliance obligations and increased employee benefit costs under new codes(p.165)
- • Rising input costs, forex fluctuations, and supply chain disruptions affecting project economics(p.167)
- • Significant portion of orders awarded through competitive tender process to lowest bidder(p.250)
- • Ability to secure new government and PSU projects critical to financial performance(p.250)
- • Volatility in IT equipment costs and supply constraints(p.250)
- • Dependence on rapid technology adaptation and changing infrastructure standards(p.250)
- • Working capital requirements fluctuation and delays in trade receivable realization(p.250)
- • Risk of deterioration in customer creditworthiness affecting collections(p.250)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Vineet Kumar Gupta | Promoter/Promoter Selling Shareholder | — | — |
| Mrs. Juli Gupta | Promoter | — | — |
| Vineet Kumar Gupta | Promoter & Managing Director | 69.81% | [●]% |
| Juli Gupta | Promoter & Executive Director | 30.19% | [●]% |
| Vineet Kumar Gupta | Promoter | — | — |
| Vineet Kumar Gupta | Promoter, Chairman and Managing Director | 69.81% | — |
| Juli Gupta | Promoter and Executive Director | 30.19% | — |
| Vineet Kumar Gupta | Promoter/Chairman & Managing Director | 75,90,050 equity shares | — |
| Vineet Kumar Gupta | Promoter Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Peer comparison
The comparable listed companies named in the offer document, as on 31 Mar 2026
| Company | EPS | NAV | P/E | P/BV | RoNW |
|---|---|---|---|---|---|
| Bench Mark Infotech Services Ltd. THIS ISSUE | 9.40 | 24.42 | 15.36, computed at the offer price | 4.50, computed at the offer price | 38.48% |
| 66.64 | 247.54 | 26.55 | 1.12 | 26.90% | |
Xtranet Technologies Ltd. | 10.40 | 34.66 | 50.87 | 6.97 | 30.01% |
| 4.66 | 60.77 | 15.66 | 17.38 | 7.68% |
Blank cells are figures the offer document does not publish. This issue is unlisted, so it has no market price and the document publishes no multiple for it — its P/E and P/BV here are computed at the offer price, on the post-issue share count, and are comparable to a listed peer's.