IPO Overview
Incorporated in 2007 and headquartered in Kolkata, Bench Mark Infotech Services Limited is an integrated digital infrastructure and IT solutions provider and system integrator with over 19 years of experience. The company designs, supplies, installs, commissions and maintains networks, communication systems, surveillance and connectivity infrastructure for government departments, public sector undertakings, institutional customers and private sector clients across India. Its offerings include IT integrated networks, wireless communication, structured cabling, multimedia and audio-visual systems, smart classrooms, access control and surveillance, fibre optic infrastructure, and annual maintenance and facility support services. Over the years, the company has expanded its capabilities into advanced domains such as dark fibre leasing, cloud virtualization, data storage, and GPU-enabled Artificial Intelligence (AI) lab solutions.
The Bench Mark Infotech Services IPO is an SME IPO of ₹42.44 crore, comprising a fresh issue of ₹35.27 crore and an offer for sale of ₹5.04 crore. The price band is set between ₹104 and ₹110 per share, with a tentative listing date of October 5, 2026 on the NSE SME platform. The IPO opens on September 25, 2026 and closes on September 29, 2026.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – SME |
| Listing Exchange | NSE SME (Emerge Platform) |
| Anchor Investor Date | 24 September 2026 |
| IPO Open Date | 25 September 2026 |
| IPO Close Date | 29 September 2026 |
| Allotment Date | 30 September 2026 (Expected) |
| Credit to Demat | 01 October 2026 |
| Refund Initiation | 01 October 2026 |
| Listing Date | 05 October 2026 (Tentative) |
| Price Band | ₹104 – ₹110 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,200 shares |
| Minimum Investment (Retail) | ₹2,64,000 (2 lots = 2,400 shares) |
| Issue Size | ₹42.44 crore |
| Fresh Issue | 32,06,800 shares (₹35.27 crore) |
| Offer For Sale (OFS) | 4,58,000 shares (₹5.04 crore) |
Issue Break-up
| Category | Allocation |
| Qualified Institutional Buyers (QIB) | ~50% |
| Non-Institutional Investors (NII/HNI) | ~15% |
| Retail Individual Investors (RII) | ~35% |
| Market Maker | Up to 1,93,200 equity shares |
OFS / Selling Shareholders
The OFS component consists of up to 4,58,000 equity shares being offered for sale by Mr. Vineet Kumar Gupta. The proceeds from the OFS portion will go directly to the selling shareholder and not to the company.
Objects of the Issue (Fund Utilization)
The net proceeds from the fresh issue will be utilized for:
- Working capital requirements
- General corporate purposes
The stated deployment of fresh-issue proceeds is primarily towards working capital requirements and general corporate purposes.
Lead Managers & Registrar
- Book Running Lead Manager: GYR Capital Advisors Private Limited
- Registrar to the Issue: Kfin Technologies Ltd.
- Market Maker: Reserved portion of up to 1,93,200 equity shares
Promoters & Management
The promoters of the company are Vineet Kumar Gupta and Juli Gupta. The promoters bring over 19 years of domain expertise in IT infrastructure, system integration, and government project execution. Mr. Vineet Kumar Gupta is also the selling shareholder in the OFS component.
Company Details
Bench Mark Infotech Services Limited is a premier Indian IT and digital infrastructure solutions provider delivering end-to-end turnkey technology systems to government departments, public sector units, and private enterprises across India. The company operates through an integrated, single-roof business model covering everything from system design and engineering to integration, testing, and after-sales support.
Key Clients:
The company’s clientele includes Airports Authority of India, Beltron, RailTel, Indian Air Force, NTPC Limited, Coal India subsidiaries — South Eastern Coalfields Limited, Central Coalfields Limited and Mahanadi Coalfields — and Indian Railways, among other government departments and public sector undertakings.
Sectors Served:
- Central & State Government Departments
- Public Sector Undertakings (PSUs)
- Institutional & Educational Clients
- Private Sector Enterprises
Key Products & Solutions:
- IT Integrated Networks & Structured Cabling
- Wireless Communication & Fibre Optic Infrastructure
- Surveillance, Access Control & Security Systems
- Multimedia, Audio-Visual & Smart Classroom Solutions
- Data Storage, Data Centre & Cloud Solutions
- AI Lab Solutions with GPU-enabled & Edge Computing Infrastructure
- Cybersecurity Services
- Annual Maintenance Contracts (AMC) & Facility Support
Certifications & Empanelments:
The company holds ISO 9001:2015 and ISO/IEC 27001:2022 certifications, and is registered under DOT (Department of Telecommunications) as an Infrastructure Provider Category-I entity. The company is empanelled with Bharat Sanchar Nigam Limited (BSNL) as a National Level System Integrator and with RailTel Corporation of India Limited as a Business Partner.
Financial Snapshot
| Period | Total Income (₹ Cr) | PAT (₹ Cr) |
| FY25 | ₹50.74 (approx.) | ₹5.84 (approx.) |
| FY26 | ₹63.99 | ₹10.22 |
Key Financial Metrics
Revenue increased by 26% and profit after tax (PAT) rose by 75% between FY25 and FY26.
- GMP as of September 21–22, 2026 stood at ₹12 over the issue price of ₹110, implying an expected listing premium of ~11%.
- Strong PAT margin improvement — PAT nearly doubled in FY26 on a 26% revenue jump, indicating strong operating leverage.
- Low debt profile with healthy return ratios.
Company Strengths
- Over 19 years of established track record in IT infrastructure and system integration for government and PSU clients
- Established history, integrated technology portfolio, strong profitability and low leverage — with exposure to fibre, cloud, data centres and AI supporting future growth.
- Empanelled with BSNL as a National Level System Integrator and RailTel as a Business Partner — providing recurring government project access
- Diversifying into high-growth areas including AI lab infrastructure, GPU-enabled edge computing, and cybersecurity
- Strong PAT growth of 75% YoY in FY26 with improving margins
- India’s digital transformation, cloud adoption, fibre deployment and data centre investment create strong sectoral tailwinds for the company.
Key Risks & Challenges
- Project-based revenue model means growth may remain uneven because tenders and project completions can shift between periods.
- Heavy dependence on government and PSU clients — any slowdown in public sector IT spending or policy changes can directly impact order inflows
- Working-capital dependence and institutional receivables remain a concern, as government project collections can be delayed.
- OFS component means a portion of proceeds goes to the promoter rather than the company
- Small workforce of 54 professionals limits scalability for large, simultaneous project execution
- SME IPO liquidity risk — limited secondary market depth on the NSE Emerge platform
Disclaimer:
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
