Brisk Technovision
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 23 Jan 2024 – 25 Jan 2024
- Listing date
- 31 Jan 2024
- Face value
- ₹10 per share
- Issue price
- ₹156 per share
- Lot size
- 800 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹12.48 Cr
- Market cap at offer price
- ₹31.20 Cr
- Promoter holding
- 99.99% → 59.99% pre-issue → post-issue
- ISIN
- INE0Q6L01014
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Sun Capital Advisory Services Pvt.Ltd.
- Registered office
- 135, Damji Shamji Industrial Premises CHS Limited, LBS Marg, Vikhroli (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 |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 40,000 | — | — |
Application size
Minimum 800 shares per lot, in multiples, at ₹156
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 800 | ₹1,24,800 |
| S-HNI (min) | 2 | 1,600 | ₹2,49,600 |
| S-HNI (max) | 8 | 6,400 | ₹9,98,400 |
| B-HNI (min) | 9 | 7,200 | ₹11,23,200 |
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
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 9.95 | 15.25 |
| P/E (×) | 15.68 | 10.23 |
| Price to book (×) | 6.52 | — |
| Market cap | — | ₹31.20 Cr |
Key performance indicators
- Return on net worth
- 41.56%
- ROCE
- 54.71%
- Debt / equity
- 0.03
- PAT margin
- 10.86%
- NAV per share
- ₹23.93
- Price to book
- 6.52
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Brisk Technovision
Brisk Technovision Limited (formerly Brisk Technovision Private Limited) was incorporated on March 30, 2007 and converted to a public limited company on August 29, 2022. The Company is engaged in the business of providing information technology solutions to corporate customers in India. Its primary business involves supplying third-party hardware products (servers, desktops, personal computers, laptops) and software to Indian corporate customers, along with service offerings including design, supply and installation of data centres, enterprise networking management, email management, system integration, and Annual Maintenance Contract (AMC) for hardware and system maintenance. The Company's revenue comes from both the sale of goods (hardware and software products) and the provision of services.
Company Analysis
from RHPBrisk Technovision Limited provides information technology solutions including hardware products (servers, desktops, laptops), third-party software, and services such as data centre design, enterprise networking, system integration, and Annual Maintenance Contracts to Indian corporate customers.
Brisk Technovision Limited (formerly Brisk Technovision Private Limited) was incorporated on March 30, 2007 and converted to a public limited company on August 29, 2022. The Company is engaged in the business of providing information technology solutions to corporate customers in India. Its primary business involves supplying third-party hardware products (servers, desktops, personal computers, laptops) and software to Indian corporate customers, along with service offerings including design, supply and installation of data centres, enterprise networking management, email management, system integration, and Annual Maintenance Contract (AMC) for hardware and system maintenance. The Company's revenue comes from both the sale of goods (hardware and software products) and the provision of services.
Objects of the Issue
- Carry out the Offer for Sale of 8,00,000 Equity Shares by the Selling Shareholders ₹1,248.00 lakhs p.20
- Achieve the benefits of listing the Equity Shares on the BSE SME p.20
- Offer for Sale of equity shares by Selling Shareholders and achieving the benefit of listing the Equity Shares on the Stock Exchange ₹1,248.00 lakhs p.71
- This is an Offer for Sale and the Company shall not get any proceeds from this Offer. p.161
Issue Structure
- Total Issue
- ₹1,248.00 lakhs
- Offer for Sale
- ₹1,248.00 lakhs (8,00,000 Equity Shares)
- Price Band
- ₹156 per Equity Share (Fixed Price)
- Lot Size
- 800 Equity Shares (minimum allotment of 800 Equity Shares to successful applicants; trading lot of 800 and in multiples of 800 thereafter)
- Face Value
- ₹10 per Equity Share
Business Model
The Company operates a business model that combines product distribution and service provision. It sources third-party hardware products and software from external suppliers and resells them to corporate customers in India, along with providing complementary services. Services include design and installation of data centres, enterprise networking management, email management, system integration, and Annual Maintenance Contracts for hardware maintenance and managed services. Revenue is generated through both product sales and service delivery on a purchase order basis without long-term commitments.
Business Segments
SWOT Analysis
- • Established IT solutions business with diversified service offerings(p.20)
- • Consistent profitability with growing net worth(p.21)
- • Strong cash generation from operations(p.30)
- • Experienced promoters with proven management team in IT industry(p.94)
- • Robust, trusted and industry-proven IT solutions(p.94)
- • Diverse range of hardware and software products across varied customer segments(p.94)
- • Well-trained employees with strong technical and execution capabilities(p.94)
- • Cash-rich company with sustained profitability over a decade(p.94)
- • Cost advantage from experience and knowledge in IT field(p.94)
- • ISO certified for Quality Management System and IT-Infrastructure Management(p.88)
- • Experienced management team with proven track record(p.164)
- • Strong technical capabilities and industry-proven solutions(p.164)
- • Diversified customer base across hardware and software segments(p.164)
- • Well-trained and capable workforce(p.164)
- • Consistent profitability and strong cash position(p.164)
- • Positive net worth and financial stability(p.184)
- • Heavy dependence on few major customers for majority of revenues(p.26)
- • No long-term contractual arrangements with customers(p.26)
- • Significant dependence on few suppliers for sourcing products(p.26)
- • Geographic concentration of business operations in Maharashtra(p.25)
- • Heavy reliance on Promoters and key personnel(p.26)
- • History of regulatory non-compliance and secretarial discrepancies(p.27)
- • Registered office on leasehold basis without assurance of renewal(p.29)
- • No intellectual property rights registered or owned(p.35)
- • Minority shareholding post-IPO limits company's ability to raise equity funds(p.25)
- • High dependence on top 10 customers for majority of revenue(p.93)
- • Concentration of business predominantly in Maharashtra state(p.88)
- • Heavy reliance on top 10 suppliers for majority of purchases(p.93)
- • Revenue decline from FY 2022 to FY 2023(p.93)
- • Limited scale and presence of smaller players in competition(p.97)
- • Heavy dependence on top five customers(p.174)
- • Largest customer represents significant revenue concentration(p.174)
- • Dependence on few suppliers for purchases(p.175)
- • Largest supplier concentration in purchases(p.175)
- • No long-term customer contracts(p.175)
- • Lack of long-term supplier agreements(p.175)
- • Growing IT & BPM sector as catalyst for Indian economic growth(p.20)
- • Large and growing internet user base in India(p.20)
- • Expansion of data centre and enterprise networking services(p.20)
- • Expansion into additional geographic areas beyond Maharashtra(p.95)
- • Growth through expanding client base and long-term relationships(p.95)
- • Strategic acquisitions and technology alliances to access new sectors(p.96)
- • Entry into software development services through partnerships(p.96)
- • High-margin service business growth (Computer System Validation)(p.96)
- • Indian IT industry expected to grow to USD 19.93 billion by 2025(p.87)
- • Broader adoption of cloud, digitalization and AI/ML technologies(p.96)
- • Shift towards higher-margin service offerings(p.163)
- • Expansion of service revenue base(p.171)
- • Growing demand for IT infrastructure and security solutions(p.163)
- • Intense competition from organized and unorganized players(p.27)
- • Revenue dependent solely on domestic market with no export presence(p.27)
- • Uncertainty in demand forecasting and customer inventory management(p.30)
- • Regulatory and compliance risks with evolving legal requirements(p.30)
- • Economic slowdown adversely affecting domestic market demand(p.41)
- • Inflation impacting costs without proportionate price increases(p.42)
- • Natural disasters, pandemics and geopolitical events affecting operations(p.40)
- • Changes in taxation laws and regulatory environment(p.37)
- • Intense competition from both organized and unorganized players(p.97)
- • Customer concentration risk in hardware and infrastructure business(p.97)
- • Supplier dependence and price volatility in hardware procurement(p.89)
- • Rapid technological changes and evolution in IT infrastructure(p.84)
- • Cyclicality and slowdown in IT services and enterprise spending(p.83)
- • Regulatory and compliance risks in IT and cybersecurity(p.99)
- • Intense competition in IT solutions market(p.175)
- • Need to keep pace with rapid technology changes(p.164)
- • Exposure to changing consumer preferences(p.164)
- • Government policy and regulatory changes(p.164)
- • Macroeconomic sensitivity(p.164)
- • Fluctuation in revenue from operations(p.168)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Sankaranarayanan Ramasubramanian | Promoter | 49.99% | 29.99% |
| Ganapati Chittaranjan Kenkare | Promoter | 49.99% | 29.99% |
| Sankaranarayanan Ramasubramanian | Promoter | 49.99% | 29.99% |
| Ganapati Chittaranjan Kenkare | Promoter | 49.99% | 29.99% |
| Sankaranarayanan Ramasubramanian | Promoter | 20% | — |
| Ganapati Chittaranjan Kenkare | Promoter | 20% | — |
| Sankaranarayanan Ramasubramanian | Selling Shareholder/Promoter | — | — |
| Ganapati Chittaranjan Kenkare | Selling Shareholder/Promoter | — | — |
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.