The stock of Brisk Technovision listed at a 12.17 percent premium over the IPO price on January 31, opening at Rs 175 against the issue price of Rs 156, on the BSE SME platform.
Ahead of the listing, the Brisk Technovision shares were trading at a 20 percent premium in the grey market, which is an unofficial ecosystem where shares start trading before the allotment in the IPO and until the listing day. Most investors track the grey market premium (GMP) to get an idea of the listing price.
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The offer was subscribed 47 times with the retail portion getting booked 35 times. The public offer opened for subscription on January 23 and closed on January 25. The price for the issue was fixed at Rs 156 per share. Through the IPO, the company raised Rs 12.48 crore. The issue was entirely an offer-for-sale of 8 lakh shares.
The promoters of the company are Sankarnarayanan Ramasubramanian and Ganapati Chittaranjan Kenakre. Sun Capital Advisory Services was the book-running lead manager, Kfin Technologies was the registrar and Nnm Securities was the market-maker for the issue.
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For the financial year 2023, the company's revenue from operations stood at Rs 18 crore, down nearly 17 percent from the previous year when the company reported a revenue of Rs 22 crore. During the same period, Brisk reported a net profit of Rs 1.98 crore, up almost 82 percent from the year-ago period when the company clocked a profit of Rs 1.09 core.
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Brisk Technovision specialises in providing information technology solutions to corporate clients in India. Its main focus is to offer third-party hardware products such as servers, desktops, personal computers, and laptops to Indian corporate customers.
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