Benchmark Computer Solutions IPO fully booked on day 1 led by retail investors; check GMP, issue details, more
Benchmark Computer Solutions Limited provides technology consulting and IT infrastructure solutions. The company offers complete technology solutions as well as services connected to technology, such as software development and IT infrastructure. The company offers all service models, including platform-as-a-service (PaaS), infrastructure-as-a-service (IaaS), and software-as-a-service (SaaS).
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The company’s service offerings include software and web-based applications, IT infrastructure and solution services, annual maintenance contracts (AMCs), and facility management services (FMS). The company possesses deep domain knowledge in both traditional and new age technologies, as well as technology expertise across industry sectors.
As stated in the Red Herring Prospectus (RHP), the company’s (with a P/E of 16.30) listed peers are Silver Touch Technologies Limited (with a P/E of 51.24), and Dynacons Systems & Solutions Limited (with a P/E of 11.25).
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Between the fiscal year ending on March 31, 2023, and March 31, 2022, Benchmark Computer Solutions Limited’s revenue increased by 70.21% and its profit after tax (PAT) increased by 145.43%.
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Benchmark Computer Solutions IPO details
Benchmark IPO, which is worth ₹12.24 crore, is completely a fresh issue of 1,854,000 equity share; there is no offer for sale (OFS) component, according to RHP.
The proceeds from the new issue will be used to the following objectives: general corporate purposes, working capital requirements, and capital expenditures.
“We believe that listing will enhance our corporate image and visibility of brand name of our Company. We also believe that our company will receive the benefits from listing of Equity Shares on the SME Platform of BSE. It will also provide liquidity to the existing shareholders and will also create a public trading market for the Equity Shares of our company,” said Benchmark Computer Solutions in its RHP.
Benchmark Computer Solutions IPOs book running lead manager is Beeline Capital Advisors Pvt Ltd, and the issue’s registrar is Kfin Technologies Limited. Spread X Securities is the market maker for the Benchmark Computer Solutions IPO.
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Benchmark Computer Solutions IPO subscription status
Benchmark Computer Solutions IPO subscription status is 3.96 times on day 1, so far. The issue received positive response from retail investors who’s portion set was subscribed 7.36 times, and non-institutional buyers who’s portion was subscribed 57%, according to data on chittorgarh.com.
The company has received bids for 69,62,000 shares against 17,58,000 shares on offer, at 14:40 IST, according to data on chittorgarh.com.
Benchmark Computer Solutions IPO GMP today
Benchmark IPO GMP today or grey market premium is +35, from +22 in the previous session. This indicates Benchmark Computer share price were trading at a premium of ₹35 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Benchmark Computer share price was indicated at ₹101 apiece, which is 53.03% higher than the IPO price of ₹66.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Benchmark Computer Solutions IPO Review
“The company is engaged in IT related services and products. The company is operating in a highly competitive and fragmented segment. It has posted inconsistency in its net profits for the reported periods. Based on FY24 annualized super earnings, the issue appears greedily priced. The small equity base post-IPO indicates at longer gestation for migration to mainboard. Well-informed investors may park moderate funds for the medium term,” said Dilip Davda, the contributing editor at Chittorgarh.
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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 14 Dec 2023, 02:49 PM IST
