Kwick Forensic Solutions IPO
LISTEDSMEListing Performance
▲ 66.67%
Issue Price
₹90
Listing Price
₹150
Listed On
03 Sep 2026
- Price Band
- ₹85 – ₹90
- Lot Size
- 1,600
- Lot Value
- ₹1,44,000
- Open Date
- 27 Aug27 Aug 2026
- Close Date
- 31 Aug31 Aug 2026
- Min Investment
- ₹1,44,000
About Kwick Forensic Solutions
The company manufactures and sells forensic science products and equipment (Forensic Science & Physical Evidence Solutions, Mobile CSI Vehicles, Cyber & Digital Forensics, DNA Forensics) and provides services including rental of forensic equipment (handheld scanners for liquor detection) and AMC services, primarily to government agencies and law enforcement.
Use of IPO Proceeds
Total allocation: ₹48.00 Cr (excludes issue expenses)
Promoters
Mr. Shammer Saralal Shah
Promoter & Director
Mrs. Sejal Shammer Shah
Promoter & Non-Executive Director
Higher Secondary Education from Holy Angels Anglo Indian in the year 1986
Mr. Tulsidas Hinduja Ashok Kumar
Promoter & Director
39 years of experience in their respective field
Investment Analysis
Quick Analysis: 3 strengths · 6 risk factors· Exchange: BSE SME
Strengths (3)
- •Multiple forensic product and service segments across India.
- •Long-standing supplier relationships supporting supply chain stability.
- •Strong customer retention with low historical attrition rates.
Risk Factors (6)
- •Geographic revenue concentration in Bihar and Gujarat creates vulnerability to regional policy changes, economic downturns, natural disasters, or civil unrest.
- •Lack of long-term customer agreements and reliance on purchase orders creates demand forecasting difficulties and order cancellation risks.
- •First public offering with no established market history makes future share price and trading liquidity unpredictable and uncertain.
- •Foreign exchange rate fluctuations may impact profitability from overseas revenue, though currently representing minimal portion of total revenue.
- •Stock price volatility from market speculation, analyst reports, and general economic conditions unrelated to company performance.
- •Tax proceedings against company involving aggregate amount of approximately ₹100.72 lakhs could result in additional liabilities.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 265.96x (QIB 220.81x, NII 235.28x, Retail 309.48x) at close
Investor Quota
Approx. shares reserved per category
Estimated from total issue size; actual reserved lots are set in the RHP.
Application Lot Sizes
Retail caps at ₹2,00,000 (1 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,44,000 |
| Retail (max) | 1 | 1,600 | ₹1,44,000 |
| S-HNI (min) | 2 | 3,200 | ₹2,88,000 |
| S-HNI (max) | 6 | 9,600 | ₹8,64,000 |
| B-HNI (min) | 7 | 11,200 | ₹10,08,000 |
Subscription Status
| Category | Day 1 | Day 2 | Day 5 |
|---|---|---|---|
| QIB | — | — | 220.81x |
| sNII (S-HNI) | — | — | — |
| bNII (B-HNI) | — | — | — |
| Retail | 13.14x | 36.23x | 309.48x |
| Total | 6.96x | 19.29x | 265.96x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
309.48x
Allotment Ratio
1 lot per 310 applicants
Allotment Probability
~0.3%
Non-Institutional Investors (NII / HNI)
Subscription
235.28x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
220.81x
Allotment Type
Discretionary allotment
Total Subscription
265.96x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
27 Aug 2026 · Thu
Issue Closes
31 Aug 2026 · Mon
Bidding Cut-off (UPI Mandate)
31 Aug 2026 · 5:00 PM IST
Allotment
01 Sep 2026 · Tue
Listing
03 Sep 2026 · Thu
Issue Opens
27 Aug 2026 · Thu
Issue Closes
31 Aug 2026 · Mon
Bidding Cut-off (UPI Mandate)
31 Aug 2026 · 5:00 PM IST
Allotment
01 Sep 2026 · Tue
Listing
03 Sep 2026 · Thu
IPO Details
| Registrar | Bigshare Services Private Limited |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹50.77 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | Corporate Capital Ventures Private Limited |
3-Year Financial Summary
Revenue trend
↑ FY23→FY25
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY25 | 65.03 | 8.56 | — | — | 30.68% |
| FY24 | 30.18 | 2.83 | — | — | 28.75% |
| FY23 | 20.38 | 1.74 | — | — | 45.50% |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| EBITDA | 3.25 | 5.45 | 12.25 |
| Net Worth | 3.83 | 9.86 | 27.9 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
—
Price ÷ EPS
EPS (FY25)
—
Earnings per share
RoNW
30.68%
Return on net worth
ROCE
—
Not in abridged DRHP
EBITDA margin
18.8%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
Check the valuation yourself
Company Fundamentals
9 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in Kwick Forensic Solutions's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Kwick Forensic Solutions's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Kwick Forensic Solutions's filing.
Source: Kwick Forensic Solutions offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
- QIB+50.00%
- NII / HNI+15.00%
- Retail+35.00%
OFS Selling Shareholders
- Mr. Shammer Saralal Shah21,60,000 sh
- Mrs. Sejal Shammer Shah6,48,000 sh
- Mr. Tulsidas Hinduja Ashok Kumar2,16,000 sh
Source: Kwick Forensic Solutions offer document (DRHP/RHP).
Board & Management
Board & management not disclosed in this filing.Director/KMP details were not extracted from Kwick Forensic Solutions's filing.
Industry & Market
Industry & market data not disclosed in this filing.Market-size/industry detail was not extracted from Kwick Forensic Solutions's filing.
Material Litigation
| Type | Against | Matters | Amount (₹Cr) |
|---|---|---|---|
| Tax | Company | 1 | 0.063 |
GST tax demand against the Company
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Bigshare Services Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Kwick Forensic Solutions IPO opening?
The Kwick Forensic Solutions IPO opens on 27 Aug 2026 and closes on 31 Aug 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Kwick Forensic Solutions IPO?
The price band for the Kwick Forensic Solutions IPO is ₹85 to ₹90. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Kwick Forensic Solutions IPO?
The minimum lot size is 1600 shares with a minimum investment of ₹1,44,000. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Kwick Forensic Solutions IPO today?
The latest Grey Market Premium for Kwick Forensic Solutions is ₹85 (+94.44%). GMP is unofficial data and is not a guarantee of listing price.
When will the Kwick Forensic Solutions IPO list on NSE and BSE?
The Kwick Forensic Solutions IPO is expected to list on 03 Sep 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Kwick Forensic Solutions IPO allotment status?
The registrar for this IPO is Bigshare Services Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Kwick Forensic Solutions IPO a mainboard or SME issue?
Kwick Forensic Solutions is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Kwick Forensic Solutions IPO?
You can apply for the Kwick Forensic Solutions IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of Kwick Forensic Solutions IPO?
The GMP-implied price (unofficial, not a forecast) is ₹175: the upper price band of ₹90 plus the latest grey market premium of ₹85, as of 28 Sep 2026, 01:00 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for Kwick Forensic Solutions IPO?
Based on the retail subscription of 309.48x, the estimated allotment ratio is 1 lot per 310 applicants (approximately 0.3% chance of allotment). This is an estimate and actual allotment may vary.
Recently Listed IPOs
| Company | Listed | Listing Gain |
|---|---|---|
| Peshwa Wheat | 01 Oct 2026 | -0.94% |
| Roopa Screen | 01 Oct 2026 | +90.00% |
| Coreintegra Consulting Services | 30 Sep 2026 | +0.13% |
Related IPOs
Related Articles
How to Use 10 Minutes of Research to Validate Any IPO Video You Watch
SEBI now requires issuers to publish a 10-minute IPO disclosure video. Here is a practical, source-by-source method to verify what you watch against the DRHP and official exchange records in about ten minutes.
Read more →
How-ToHow to Read Past IPO Data to Set Realistic Listing Gain Targets
Median listing gains fell to 3.8% in 2025 from 15.2% in 2024. Here is how to read past IPO data, GMP, and subscription numbers to set realistic listing day expectations instead of chasing hype.
Read more →
How-ToHow to Compare an IPO With Listed Peers Using Key Ratios and Growth Metrics
A practical framework for Indian retail investors on comparing an IPO with its listed peers using P/E, P/B, EV/EBITDA and growth metrics, illustrated with the NSE vs BSE case study.
Read more →