Benchmark Computer Solutions
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 14 Dec 2023 – 18 Dec 2023
- Listing date
- 21 Dec 2023
- Face value
- ₹10 per share
- Issue price
- ₹66 per share
- Lot size
- 2,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹12.24 Cr
- Market cap at offer price
- ₹45.30 Cr
- Promoter holding
- 99.00% → 72.26% pre-issue → post-issue
- ISIN
- INE0Q2Z01013
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Beeline Capital Advisors Pvt.Ltd.
- Registered office
- Unit No 2, 2nd Floor, Jyoti Wire House, Plot No 23A Shah Indl.Estate, Veera Desai Road, Andheri (West), Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 96,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹66
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,32,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,64,000 |
| S-HNI (max) | 7 | 14,000 | ₹9,24,000 |
| B-HNI (min) | 8 | 16,000 | ₹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.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 4.05 | — |
| P/E (×) | 16.30 | — |
| Market cap | — | ₹45.30 Cr |
Key performance indicators
- Return on net worth
- 15.73%
- ROCE
- 18.88%
- Debt / equity
- 0.43
- PAT margin
- 6.35%
- NAV per share
- ₹25.74
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Benchmark Computer Solutions
Benchmark Computer Solutions Limited (BCSL) was originally incorporated as a private limited company on October 31, 2002, and converted to a public limited company in July 2023. The company, with headquarters in Mumbai, operates as an IT infrastructure solutions and technology consulting firm. It provides a comprehensive range of services spanning IT Infrastructure solutions, Software and Web-based Application Development, and Annual Maintenance Contracts (AMC) and Facility Management Services (FMS). The company boasts over two decades of combined experience under its promoters, Mr. Dhananjay Vrindavan Wakode and Mr. Hemant Muddanna Sanil. BCSL has established partnerships with leading technology vendors including HP (amplify membership), Veeam, Vertiv, and Dell Technologies, and maintains ISO 9001:2015 and ISO 27001:2013 certifications.
Company Analysis
from RHPBenchmark Computer Solutions Limited is an IT infrastructure solutions and technology consulting company providing end-to-end technology services including IT infrastructure and software development services across IaaS and SaaS models.
Benchmark Computer Solutions Limited (BCSL) was originally incorporated as a private limited company on October 31, 2002, and converted to a public limited company in July 2023. The company, with headquarters in Mumbai, operates as an IT infrastructure solutions and technology consulting firm. It provides a comprehensive range of services spanning IT Infrastructure solutions, Software and Web-based Application Development, and Annual Maintenance Contracts (AMC) and Facility Management Services (FMS). The company boasts over two decades of combined experience under its promoters, Mr. Dhananjay Vrindavan Wakode and Mr. Hemant Muddanna Sanil. BCSL has established partnerships with leading technology vendors including HP (amplify membership), Veeam, Vertiv, and Dell Technologies, and maintains ISO 9001:2015 and ISO 27001:2013 certifications.
Objects of the Issue
- Capital Expenditure ₹390.00 Lakhs p.76
- Working Capital Requirement ₹380.00 Lakhs p.81
- General Corporate Purposes ₹297.50 Lakhs p.85
Issue Structure
- Total Issue
- ₹1,223.64 Lakhs
- Fresh Issue
- 1,854,000 Equity Shares aggregating to ₹1,223.64 Lakhs
- Offer for Sale
- Nil
- Price Band
- ₹66 per equity share
- Lot Size
- As prescribed under SEBI regulations for SME Platform
- Face Value
- ₹10 per equity share
Business Model
BCSL generates revenue through three primary segments: (1) IT Infrastructure Solutions including equipment sales/rental, networking, data centre solutions, IT security and data backup services; (2) Software and Web-based Application Development Services, including SaaS-based offerings such as 'My WMS' (Warehouse Management System); and (3) Annual Maintenance Contracts (AMC) and Facility Management Services (FMS) providing ongoing support to enterprise customers.
Business Segments
SWOT Analysis
- • Customized IT solutions with integrated service delivery model(p.121)
- • Experienced management with 40+ years combined IT industry experience(p.120)
- • Strong customer relationships built on timely delivery and quality(p.120)
- • Wide service portfolio covering infrastructure, software, and AMC/FMS(p.120)
- • Authorised partnerships with major technology vendors(p.116)
- • ISO certifications demonstrating quality and security standards(p.116)
- • Property title not held in company name creates legal ownership risk(p.23)
- • High revenue dependence on IT Infrastructure solutions segment(p.23)
- • Heavy dependence on limited number of customers(p.24)
- • Dependence on limited supplier base(p.25)
- • Compliance delays with statutory filing obligations(p.25)
- • Litigation involving promoters creates reputational and operational risks(p.18)
- • Digital transformation and cloud computing driving IT infrastructure demand(p.113)
- • Growing IT and BPM market in India with projected 3x growth(p.112)
- • Strong government support and sector growth initiatives(p.112)
- • Expansion into new geographic markets and verticals(p.126)
- • Development of AI computing platform as new business opportunity(p.77)
- • Interruptions in service delivery from third-party providers impact revenue(p.23)
- • Foreign exchange fluctuation impacts export revenue and margins(p.24)
- • Volatility in IT equipment costs and availability(p.24)
- • Intense competition from organized and unorganized players(p.126)
- • Technology disruption and rapid changes requiring continuous investment(p.26)
- • Global economic slowdown affecting customer demand(p.101)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Dhananjay Vrindavan Wakode | Promoter | 49.48% | 36.12% |
| Mr. Hemant Muddanna Sanil | Promoter | 49.49% | 36.12% |
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.