Bench Mark Infotech Services Ltd IPO
Status: Upcoming
Overview
IPO date
25 Sept 2026 to 29 Sept 2026
Face value
₹ 10 per share
Price
₹ 104 to ₹110 per share
Issue Size
3,858,000 shares
(aggregating up to ₹ 42.44 Cr)
(aggregating up to ₹ 42.44 Cr)
Allotment Date
30 Sept 2026
Listing at
NSE
Issue type
Book Building - SME
Sector
IT - Software
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T&C*
Strengths vs Risks of Bench Mark Infotech Services Ltd
Know the pros & cons
Strengths
- Long Standing Customer Relationships with Repeat Order Flow.
- Established Track Record of Execution Across Diverse Project Segments.
- Integrated Business Model with End-to-End Service Capabilities Under One Roof.
- Relationships with OEMs and Vendors.
- Experienced Promoter with Strong Industry Expertise.
Risks
- We are dependent on certain key customers for a substantial portion of our revenues. Loss of relationship with any of these customers may have an adverse effect on our profitability and results of operations.
- We are dependent on a few vendors/ suppliers who are our OEM partners and we typically do not enter into long-term contracts or arrangements with them. Any loss of such suppliers or any increase in the price will have an adverse impact on our business and our revenue.
- Significant proportion of our orders are from government related entities which award the contract through the process of tender. Tenders, typically, are awarded to the lower bidder once all other eligibility criteria are met. Our performance could be adversely affected if we are not able to successfully bid for these contracts or required to lower our bid value.
- We generate a significant percentage of our revenue from operations from customers in Bihar, Odisha and West Bengal in India. If our operations in these states are negatively affected, our financial results and future prospects would be adversely impacted.
- Our working capital requirements have fluctuated in the past and may continue to fluctuate in the future. Any inability to efficiently manage our working capital requirements, including timely realization of trade receivables, may adversely affect our business, financial condition, cash flows and results of operations.
- Our financial condition could be materially and adversely affected if we fail to secure new government and PSU projects.
- Any increase in the cost of, or a shortfall in the supply of IT Equipment's, may adversely affect the pricing and supply of our products and have an adverse effect on our business, results of operations and financial condition.
- Our success depends largely upon the knowledge and experience of our Promoters. Any loss of our Promoters and key managerial personnel or our ability to attract and retain them could adversely affect our business, operations and financial condition.
- A significant portion of our assets comprises trade receivables. Any delay in realization, inability to recover outstanding dues, or deterioration in the creditworthiness of our customers may adversely affect our liquidity, cash flows, financial condition and results of operations.
- Our competitive position and future growth depend on our ability to adapt to evolving technologies and customer requirements in a highly competitive IT infrastructure and solutions market.
- We have experienced negative cash flows in the past three financial years. Any negative cash flows in the future would adversely affect our results of operations and financial condition.
- Our Company's success depends largely upon its skilled professionals and its ability to attract and retain these personnel. The industry where our Company operates requires highly skilled and technical employee.
- Our Registered Office and our Branch Office from where we operate is not owned by us.
- Our business and revenue from leasing/renting of fibre infrastructure are dependent on our continued compliance with applicable telecom regulations and maintenance of our IP-I registration
- Our Company has identified certain historical non-compliances, deficiencies and clerical errors in its statutory records, financial statement filings and secretarial compliances under the Companies Act, 2013. Any adverse regulatory action, penalties, compounding fees or other proceedings in relation to such matters may adversely affect our business, financial condition, results of operations, cash flows and reputation.
- Failure to offer customer support in a timely and effective manner may adversely affect our relationship with our customers.
- We are required to furnish bank guarantees in the ordinary course of our business, and any inability to arrange such guarantees or invocation thereof could adversely affect our cash flows, financial condition, and business operations.
- Our Promoters have provided personal guarantee to certain loan facilities availed by us, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
- Delays in payments to MSMEs may result in additional interest liabilities and tax implications, which may adversely affect our cash flows, working capital position and profitability
- Our failure to fulfil the payment and development requirements in relation to our leasehold industrial property may result in financial loss and operational uncertainty.
- Our Company has taken unsecured loans from the promoters that may be recalled at any time and our Company may not have adequate working capital to make timely payments or at all.
- We have in the past entered into related party transactions and may continue to do so in the future.
- Our Company is party to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on our business, results of operations and financial condition.
- Delays in filing and compliance issues noticed in corporate records relating to forms filed with taxation and other public authorities.
- Our financing arrangements contain financial and other covenants, and any failure to comply with such covenants could adversely affect our business and financial condition.
- Certain members of our Board have limited experience serving as directors of listed companies in India.
- We require certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate our business, any failure to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect our operations.
- Regulatory, legislative or self-regulatory developments regarding privacy and data security matters could adversely affect our ability to conduct our business and impact our financial condition.
- Failure to meet the quality standards and specifications required by our customers may result in cancellation of orders, warranty claims and monetary liabilities.
- Our Company has delayed in compliances with some statutory provisions of the Companies Act and delayed compliance may attract penalties against our company which could impact the financial position of us to that extent.
- Negative publicity could adversely affect our reputation, business and financial results
- We may not be able to achieve or maintain the growth rates achieved in the past.
- Our current order book may not be indicative of our future growth and may be subject to delay or modification.
- Our business is dependent on technology and IT infrastructure, and any damage, malfunction or disruption to our systems or cybersecurity may adversely affect our business and financial performance.
- We may be unable to sufficiently obtain, maintain, protect, or enforce our intellectual property and other proprietary rights.
- Certain of our Group Companies are authorised to carry on business activities similar to those of our Company, which may give rise to potential conflicts of interest.
- Our insurance coverage may not be adequate to protect us against all potential losses to which we may be subject and this may have an adverse effect on our business and financial condition.
- Our marketing and advertising campaigns may not be successful in increasing the popularity of our services and offerings. If our marketing initiatives are not effective, this may adversely affect our business and results of operations.
- If we fail to maintain an effective system of internal controls, we may not be able to successfully manage, or accurately report, our financial risks.
- Our ability to pay dividends in the future will depend upon our future earnings, financial condition, cash flows, working capital requirements and restrictive covenants in our financing arrangements.
- In addition to normal remuneration or benefits and reimbursement of expenses, some of our Promoters and/ or Directors are interested in our Company to the extent of their shareholding and dividend entitlement thereon in our Company.
- Our Promoters and Promoter Group will continue to exercise significant influence over us and may cause us to take actions that are not in the best interest of our other shareholders.
- The Objects of the Offer for which funds are being raised, are based on the company's management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Offer".
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The deployment of funds raised through this Offer shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- The company will not receive any proceeds from the Offer for Sale. The Promoter Selling Shareholder will receive the Net Proceeds from the Offer for Sale.
- The company has not independently verified certain data in this Red Herring Prospectus.
- The average cost of acquisition of Equity Shares by the company's Promoters could be lower than the Offer price.
- The company has issued Equity Shares in the last twelve months at price lower than the Offer Price.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
- The company's Equity Shares have never been publicly traded and may experience price and volume fluctuations following the completion of the Offer, an active trading market for the Equity Shares may not develop, the price of its Equity Shares may be volatile and you may be unable to resell your Equity Shares at or above the Offer Price or at all.
- The company cannot assure you that its Equity Shares will be listed on the NSE EMERGE in a timely manner or at all, which may restrict your ability to dispose of the equity shares.
- Any future issuance of Equity Shares or convertible securities, including options under any stock option plan or other equity linked securities may dilute your shareholding, and significant sales of Equity Shares by the company's major shareholders, may adversely affect the trading price of its Equity Shares.
- There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
- After this Offer, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
- Any of the bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- You may be subject to Indian taxes arising out of capital gains on the sale of the Equity Shares.
Bench Mark Infotech Services Ltd Peer Comparison
Understand the company’s industry standing
Bench Mark Infotech Services Ltd
Dynacons Systems & Solutions Ltd
Xtranet Technologies Limited
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
63.99
1430.01
366.01
EPS-Basis
9.4
66.64
10.4
EPS-Diluted
9.4
66.64
10.4
NAV Per Share
24.42
247.54
34.66
P/E-Basic EPS
---
26.55
50.87
P/E-Diluted EPS
---
---
---
RONW(%)
38.48
26.9
30.01
Latest NAV Period
---
---
---
Latest NAV
---
---
---
How to check the allotment status of Bench Mark Infotech Services Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 25 Sept 2026 & closes on 29 Sept 2026.
Bench Mark Infotech Services Limited was originally incorporated as Bench Mark Infotech Services Private Limited' a Private limited company under the Companies Act, 1956 at Kolkata, dated January 09, 2007, with the Registrar of Companies, Kolkata. Subsequently, the Company has changed to Bench Mark Infotech Services Limited upon its conversion into a Public Limited Company dated June 22, 2026 with the certificate obtained from the Central Registration Centre.
Bench Mark Infotech Services Limited is an integrated IT and digital infrastructure solutions company having the expertise and skills in providing technology infrastructure solution to government departments, public sector undertakings, institutional customers and private sector clients across India. The Company was registered as Infrastructure Provider Category I (IP-I) in 2009. It installed a mobile (cellular) authentication based public Wi-Fi access facility in Patna, Bihar during FY13-14.
The services include local and wide area networking (LAN & WAN), wireless communication systems, installation of active network devices, Structured cabling, multimedia and audio-visual systems, safety & surveillance, and allied infrastructure services. In addition to project execution, it provide fibre optic solutions, including provisioning of fibre optic lines, by supporting the connectivity. It undertake fibre optic infrastructure such as trenching, digging, ducting, laying of fibre cables, integration of fibre networks and restoration work.
In 2026, the Company has extended the services by entering the data storage and data centre service division.
The Company has filed a Draft Prospectus with SEBI & is planning for IPO of 40,00,000 Equity shares having the face value of Rs 10 each. The IPO consists a fresh issue of 35,00,000 Equity shares and the offer for sale of 5,00,000 Equity shares.
Bench Mark Infotech Services Ltd IPO will close on 29 Sept 2026.
- Long Standing Customer Relationships with Repeat Order Flow.
- Established Track Record of Execution Across Diverse Project Segments.
- Integrated Business Model with End-to-End Service Capabilities Under One Roof.
- Relationships with OEMs and Vendors.
- Experienced Promoter with Strong Industry Expertise.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Vineet Kumar Gupta | 7590050 | 69.81 | 7132050 | 49.97 |
| 2 | Juli Gupta | 3282500 | 30.19 | 3282500 | 23 |
- We are dependent on certain key customers for a substantial portion of our revenues. Loss of relationship with any of these customers may have an adverse effect on our profitability and results of operations.
- We are dependent on a few vendors/ suppliers who are our OEM partners and we typically do not enter into long-term contracts or arrangements with them. Any loss of such suppliers or any increase in the price will have an adverse impact on our business and our revenue.
- Significant proportion of our orders are from government related entities which award the contract through the process of tender. Tenders, typically, are awarded to the lower bidder once all other eligibility criteria are met. Our performance could be adversely affected if we are not able to successfully bid for these contracts or required to lower our bid value.
- We generate a significant percentage of our revenue from operations from customers in Bihar, Odisha and West Bengal in India. If our operations in these states are negatively affected, our financial results and future prospects would be adversely impacted.
- Our working capital requirements have fluctuated in the past and may continue to fluctuate in the future. Any inability to efficiently manage our working capital requirements, including timely realization of trade receivables, may adversely affect our business, financial condition, cash flows and results of operations.
- Our financial condition could be materially and adversely affected if we fail to secure new government and PSU projects.
- Any increase in the cost of, or a shortfall in the supply of IT Equipment's, may adversely affect the pricing and supply of our products and have an adverse effect on our business, results of operations and financial condition.
- Our success depends largely upon the knowledge and experience of our Promoters. Any loss of our Promoters and key managerial personnel or our ability to attract and retain them could adversely affect our business, operations and financial condition.
- A significant portion of our assets comprises trade receivables. Any delay in realization, inability to recover outstanding dues, or deterioration in the creditworthiness of our customers may adversely affect our liquidity, cash flows, financial condition and results of operations.
- Our competitive position and future growth depend on our ability to adapt to evolving technologies and customer requirements in a highly competitive IT infrastructure and solutions market.
- We have experienced negative cash flows in the past three financial years. Any negative cash flows in the future would adversely affect our results of operations and financial condition.
- Our Company's success depends largely upon its skilled professionals and its ability to attract and retain these personnel. The industry where our Company operates requires highly skilled and technical employee.
- Our Registered Office and our Branch Office from where we operate is not owned by us.
- Our business and revenue from leasing/renting of fibre infrastructure are dependent on our continued compliance with applicable telecom regulations and maintenance of our IP-I registration
- Our Company has identified certain historical non-compliances, deficiencies and clerical errors in its statutory records, financial statement filings and secretarial compliances under the Companies Act, 2013. Any adverse regulatory action, penalties, compounding fees or other proceedings in relation to such matters may adversely affect our business, financial condition, results of operations, cash flows and reputation.
- Failure to offer customer support in a timely and effective manner may adversely affect our relationship with our customers.
- We are required to furnish bank guarantees in the ordinary course of our business, and any inability to arrange such guarantees or invocation thereof could adversely affect our cash flows, financial condition, and business operations.
- Our Promoters have provided personal guarantee to certain loan facilities availed by us, which if revoked may require alternative guarantees, repayment of amounts due or termination of the facilities.
- Delays in payments to MSMEs may result in additional interest liabilities and tax implications, which may adversely affect our cash flows, working capital position and profitability
- Our failure to fulfil the payment and development requirements in relation to our leasehold industrial property may result in financial loss and operational uncertainty.
- Our Company has taken unsecured loans from the promoters that may be recalled at any time and our Company may not have adequate working capital to make timely payments or at all.
- We have in the past entered into related party transactions and may continue to do so in the future.
- Our Company is party to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on our business, results of operations and financial condition.
- Delays in filing and compliance issues noticed in corporate records relating to forms filed with taxation and other public authorities.
- Our financing arrangements contain financial and other covenants, and any failure to comply with such covenants could adversely affect our business and financial condition.
- Certain members of our Board have limited experience serving as directors of listed companies in India.
- We require certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate our business, any failure to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect our operations.
- Regulatory, legislative or self-regulatory developments regarding privacy and data security matters could adversely affect our ability to conduct our business and impact our financial condition.
- Failure to meet the quality standards and specifications required by our customers may result in cancellation of orders, warranty claims and monetary liabilities.
- Our Company has delayed in compliances with some statutory provisions of the Companies Act and delayed compliance may attract penalties against our company which could impact the financial position of us to that extent.
- Negative publicity could adversely affect our reputation, business and financial results
- We may not be able to achieve or maintain the growth rates achieved in the past.
- Our current order book may not be indicative of our future growth and may be subject to delay or modification.
- Our business is dependent on technology and IT infrastructure, and any damage, malfunction or disruption to our systems or cybersecurity may adversely affect our business and financial performance.
- We may be unable to sufficiently obtain, maintain, protect, or enforce our intellectual property and other proprietary rights.
- Certain of our Group Companies are authorised to carry on business activities similar to those of our Company, which may give rise to potential conflicts of interest.
- Our insurance coverage may not be adequate to protect us against all potential losses to which we may be subject and this may have an adverse effect on our business and financial condition.
- Our marketing and advertising campaigns may not be successful in increasing the popularity of our services and offerings. If our marketing initiatives are not effective, this may adversely affect our business and results of operations.
- If we fail to maintain an effective system of internal controls, we may not be able to successfully manage, or accurately report, our financial risks.
- Our ability to pay dividends in the future will depend upon our future earnings, financial condition, cash flows, working capital requirements and restrictive covenants in our financing arrangements.
- In addition to normal remuneration or benefits and reimbursement of expenses, some of our Promoters and/ or Directors are interested in our Company to the extent of their shareholding and dividend entitlement thereon in our Company.
- Our Promoters and Promoter Group will continue to exercise significant influence over us and may cause us to take actions that are not in the best interest of our other shareholders.
- The Objects of the Offer for which funds are being raised, are based on the company's management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titles "Objects of the Offer".
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.
- The deployment of funds raised through this Offer shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of the Company.
- The company will not receive any proceeds from the Offer for Sale. The Promoter Selling Shareholder will receive the Net Proceeds from the Offer for Sale.
- The company has not independently verified certain data in this Red Herring Prospectus.
- The average cost of acquisition of Equity Shares by the company's Promoters could be lower than the Offer price.
- The company has issued Equity Shares in the last twelve months at price lower than the Offer Price.
- The company has not identified any alternate source of funding and hence any failures or delay on its part to mobilize the required resources or any shortfall in the Offer proceeds may delay the implementation schedule.
- The company's Equity Shares have never been publicly traded and may experience price and volume fluctuations following the completion of the Offer, an active trading market for the Equity Shares may not develop, the price of its Equity Shares may be volatile and you may be unable to resell your Equity Shares at or above the Offer Price or at all.
- The company cannot assure you that its Equity Shares will be listed on the NSE EMERGE in a timely manner or at all, which may restrict your ability to dispose of the equity shares.
- Any future issuance of Equity Shares or convertible securities, including options under any stock option plan or other equity linked securities may dilute your shareholding, and significant sales of Equity Shares by the company's major shareholders, may adversely affect the trading price of its Equity Shares.
- There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
- After this Offer, the price of the Equity Shares may be highly volatile, or an active trading market for the Equity Shares may not develop.
- Any of the bidders are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- You may be subject to Indian taxes arising out of capital gains on the sale of the Equity Shares.
The Issue type of Bench Mark Infotech Services Ltd is Book Building - SME.
The minimum application for shares of Bench Mark Infotech Services Ltd is 2400.
The total shares issue of Bench Mark Infotech Services Ltd is 3858000.
Initial public offer of upto 38,58,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of Bench Mark Infotech Services Limited (the "Company" or "Benchmark" or "Issuer") at an offer price of Rs. [*] per equity share (including a share premium of Rs. [*] per equity share) for cash, aggregating upto Rs. [*] Crores ("Public Offer") comprising a fresh issue of upto 34,00,000 equity shares of face value of Rs. 10/- each aggregating to Rs. [*] Crores (the "Fresh Issue") and an offer for sale of up to 4,58,000 equity shares of face value of Rs. 10/- each by Vineet Kumar Gupta ("the promoter selling shareholder") aggregating to Rs. [*] Crores out of which upto 1,93,200 equity shares of face value of Rs. 10/- each, at an offer price of Rs. [*] per equity share for cash, aggregating Rs. [*] Crores will be reserved for subscription by the market maker to the offer (the "Market Maker Reservation Portion"). The public offer less market maker reservation portion i.e. Offer of 36,64,800 equity shares of face value of Rs. 10/- each, at an offer price of Rs. [*] per equity share for cash, aggregating upto Rs. [*] crores is hereinafter referred to as the "net offer". The public offer and net offer will constitute 27.03% and 25.68% respectively of the post-offer paid-up equity share capital of the company.
The price band and the minimum bid lot will be decided by the company.