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.
Also read: Gainers and Losers: 10 stocks that moved the most on January 23
Issue Size
The IPO is purely an offer-for-sale issue of 8 lakh shares.
Price Band
The price band for the offer has been fixed at Rs 156 per share.
Lot Size
Investors can bid for a minimum of 800 shares and in multiples thereof.
Financial Performance
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.
Objectives of the issue
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.
Promoters of the company
The promoters of the company are Sankarnarayanan Ramasubramanian and Ganapati Chittaranjan Kenakre.
Lead Managers
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.
Risks
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.
Listing Date
Brisk Technovision IPO will likely be listed on BSE SME with a tentative listing date fixed as Wednesday, January 31.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
