Benchmark Computer Solutions Limited is gearing up for its IPO, a fixed price issue of Rs 12.24 crores, comprising an entirely fresh issue of 18.54 lakh shares. The subscription period for the Benchmark Computer Solutions IPO is set to open on December 14, 2023, and will conclude on December 18, 2023. The allotment is expected to be finalized on Tuesday, December 19, 2023, with the tentative listing date on BSE SME being Thursday, December 21, 2023.
### Benchmark Computer Solutions IPO Details:
– **IPO Date:** December 14, 2023, to December 18, 2023
– **Listing Date:** [Not specified]
– **Face Value:** ₹10 per share
– **Price:** ₹66 per share
– **Lot Size:** 2000 Shares
– **Total Issue Size:** 1,854,000 shares (aggregating up to ₹12.24 Cr)
– **Fresh Issue:** 1,854,000 shares (aggregating up to ₹12.24 Cr)
– **Issue Type:** Fixed Price Issue IPO
– **Listing At:** BSE SME
– **Market Maker portion:** 96,000 shares (Spread X Securities)
### Benchmark Computer Solutions IPO Reservation:
– **Retail Shares Offered:** Not less than 50% of the Net Issue
– **Other Shares Offered:** Not more than 50% of the Net Issue
### Benchmark Computer Solutions IPO Timeline (Tentative Schedule):
– IPO Opens: Thursday, December 14, 2023
– IPO Closes: Monday, December 18, 2023
– Basis of Allotment: Tuesday, December 19, 2023
– Initiation of Refunds: Wednesday, December 20, 2023
– Credit of Shares to Demat: Wednesday, December 20, 2023
– Listing Date: Thursday, December 21, 2023
– Cut-off time for UPI mandate confirmation: 5 PM on December 18, 2023
### Benchmark Computer Solutions IPO Lot Size:
Investors can bid for a minimum of 2000 shares and in multiples thereof. The minimum and maximum investment for retail investors and HNI are detailed in the application table.
### Benchmark Computer Solutions IPO Promoter Holding:
– **Promoters:** Mr. Dhananjay Vrindawan Wakode and Mr. Hemant Muddanna Sanil
– **Share Holding Pre Issue:** 99%
– **Share Holding Post Issue:** 72.27%
### About Benchmark Computer Solutions Limited:
Incorporated in October 2002, Benchmark Computer Solutions Limited is a technology consulting and software development company specializing in IT infrastructure solutions. The company offers services in IT infrastructure solutions, software and web-based application development, annual maintenance contracts (AMC), and facility management services (FMS). Their core business is divided into three segments:
1. IT infrastructure solutions
2. Software and web-based application development
3. Annual Maintenance Contract (AMC) and Facility Management Services (FMS)
Benchmark provides end-to-end technology-related services, including IT infrastructure and software development services. The company has partnerships with various OEMs, including HP, SafeAeon, Veeam, Vertiv, Lenovo, Konica Minolta Business Solutions, and Dell Technologies.
### Financial Information (Restated):
– **Revenue (Sep 2023):** ₹1,322.52 lakhs
– **Profit After Tax (Sep 2023):** ₹95.67 lakhs
– **Net Worth (Sep 2023):** ₹1,385.18 lakhs
### Key Performance Indicators:
– **P/E (x):** 16.3
– **ROE:** 17.08%
– **ROCE:** 18.88%
– **Debt/Equity:** 0.43
– **EPS (Rs):** 4.05
– **RoNW:** 15.73%
### Objects of the Issue:
The proceeds from the Fresh Issue will be utilized for the following:
1. Capital Expenditure
2. Working Capital Requirement
3. General Corporate Purpose
4. To meet Public Issue Expenses
### Benchmark Computer Solutions IPO Review:
[Dilip Davda] suggests that the company, engaged in IT-related services and products, operates in a highly competitive and fragmented segment. The net profits have shown inconsistency for the reported periods. Based on FY24 annualized super earnings, the issue appears to be priced greedily. The small equity base post-IPO indicates a longer gestation for migration to the mainboard. Well-informed investors may consider parking moderate funds for the medium term.### Benchmark Computer Solutions IPO Prospectus:
– [Benchmark Computer Solutions IPO DRHP](#) (Draft Red Herring Prospectus)
– [Benchmark Computer Solutions IPO RHP](#) (Red Herring Prospectus)
For more detailed information, investors are advised to refer to the prospectus documents.
