Brisk Technovision SME IPO: Check price band, GMP, financials, risks and listing date

The company will not receive any proceeds from the offer, as all such proceeds will go to the selling shareholders

Brisk Technovision Limited's Rs 12.48 crore initial public offering (IPO) will open for subscription on January 23. The IPO will close on January 25.

Incorporated in March 2007, the company specializes 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.

The IPO is purely an offer-for-sale issue of 8 lakh shares.

The price band for the offer has been fixed at Rs 156 per share.

Investors can bid for a minimum of 800 shares and in multiples thereof.

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 cre, up almost 82 percent from the year-ago period where the company clocked a profit of Rs 1.09 core.

The company will not receive any proceeds from the offer, as all such proceeds will go to the selling shareholders. The company also anticipates that the listing of equity shares will have several positive effects, including enhancing visibility and brand image.

The promoters of the company are Sankarnarayanan Ramasubramanian and Ganapati Chittaranjan Kenakre.

Sun Capital Advisory Services (P) Ltd is the book-running lead manager of the Brisk Technovision IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Brisk Technovision IPO is Nnm Securities.

i.)  The company is dependent on a few customers for the majority of its revenue and does not have any long-term arrangements with its customers. Any disruption could adversely affect Brisks' business and the results of

operations.

ii.) Most of the company's business operations are in and from the state of Maharashtra. Due to this geographic concentration, the results of operations can be restricted due to the economic and demographic conditions of the state.

iii.) Its revenue is dependent on the domestic market and does not have any export revenue. Any adverse changes in the conditions affecting the domestic market could adversely affect the business and profitability of the company.

Brisk Technovision IPO will likely be listed on BSE SME with a tentative listing date fixed as Wednesday, January 31.