Listing Performance
▲ 66.67%
Issue Price
₹90
Listing Price
₹150
Listed On
03 Sep 2026
- Price Band
- ₹85 – ₹90
- Lot Size
- 1600
- Lot Value
- ₹1,44,000
- Open Date
- 27 Aug 2026
- Close Date
- 31 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
Investment Analysis
Risk Factors (6)
- •Geographic concentration in Bihar and Gujarat states exposes business to regional policy, regulatory, and economic risks
- •Lack of long-term customer agreements; customers can amend, reschedule, reduce, or cancel purchase orders
- •First public offer with no formal market history; offer price may not reflect post-listing trading price
- •Foreign exchange rate fluctuations may adversely impact revenues from international business operations
- •Stock price volatility from market conditions, analyst reports, and speculation unrelated to company performance
- •Pending tax proceedings against company with aggregate amount involved of ₹100.72 lakhs
📊 Algorithmic Score
Computed from issue structure — GMP, fresh issue %, OFS %, issue size
Why do these differ? The Algorithmic Score measures issue quality (structure, size, promoter commitment). The Demand Analysis measures investor interest signals (subscription, GMP, risks). A high-quality issue can still have unconfirmed demand — especially before subscription opens.
✍️ Demand & Risk Analysis
Based on market demand signals — subscription, GMP trend, risk factors
IPO Market Analysis
“Strong investor demand with 266x subscription suggests positive listing momentum. GMP indicates market expects a listing premium.”
- ✅Oversubscribed 266x
- ✅Strong QIB demand 221x
- ✅High GMP +94%
- ⚠️6 risk factors noted
This is algorithmic analysis, not investment advice. Always read the DRHP before investing.
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 (13 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) | 13 | 20,800 | ₹18,72,000 |
| S-HNI (min) | 14 | 22,400 | ₹20,16,000 |
| S-HNI (max) | 66 | 1,05,600 | ₹95,04,000 |
| B-HNI (min) | 67 | 1,07,200 | ₹96,48,000 |
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 · green 1–5x · blue 5–10x · orange >10x.
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.
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 | 43.31 | — | 30.68% |
| FY24 | 30.18 | 2.83 | — | — | — |
| FY23 | 20.38 | 1.74 | — | — | — |
Detailed Line Items (₹ Cr)
| Line Item | FY23 | FY24 | FY25 |
|---|---|---|---|
| EBITDA | 3.34 | 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
2.1x
Price ÷ EPS
EPS (FY25)
₹43
Earnings per share
RoNW
30.68%
Return on net worth
ROCE
38.15%
as reported in filing
EBITDA margin
18.8%
EBITDA ÷ revenue
Price/NAV
0.68x
Price ÷ NAV (as reported)
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 Shah2,16,000 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 of Directors (5)
- Mr. Shammer Saralal Shah
Managing Director
- Mrs. Sejal Shammer Shah
Non-Executive Director
- Dr. Neeraj Bakulesh Jhaveri
Whole-time Director
- Ms. Sonia Vaid
Additional Director (Non-Executive Independent Director)
- Mrs. Latha Venkatesh
Additional Director (Non-Executive Independent Director)
Key Managerial Personnel (4)
- Mr. Shammer Saralal Shah
Managing Director
- Mr. Vishal Jain
Chief Financial Officer
- Mr. Tulsidas Hinduja Ashok Kumar
Chief Operating Officer
- Ms. Selvakumar Krithika
Company Secretary and Compliance Officer
Source: Kwick Forensic Solutions offer document (DRHP/RHP).
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 |
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. Use the Apply Now buttons on this page to go directly to the broker.
What is the expected listing price of Kwick Forensic Solutions IPO?
Based on the current GMP of ₹85, the expected listing price of Kwick Forensic Solutions is ₹175 (issue price ₹90 + GMP ₹85). Note that GMP is unofficial grey market data and actual listing price may differ.
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.
Should I subscribe to Kwick Forensic Solutions IPO?
Based on our algorithmic analysis, Kwick Forensic Solutions IPO is rated SUBSCRIBE with high confidence. Strong investor demand with 266x subscription suggests positive listing momentum. GMP indicates market expects a listing premium. This is not investment advice — please read the DRHP and consult a financial advisor before investing.
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