Kwick Forensic's ₹50.77 crore SME IPO closes 154x oversubscribed
What's the deal? Kwick Forensic SolutionsDealroom has a profile for this one. Try Dealroom → closed its SME IPO on August 31, 2026, drawing bids worth 154.90 times the shares on offer. The Indian forensic equipment maker aims to raise ₹50.77 crore, priced between ₹85 and ₹90 per share.
Who bought in? Individual investors led demand at 225.94 times their reserved portion. Non-institutional investors bid 175.08 times, while qualified institutional buyers subscribed 15.03 times.
What's the endgame? The offering splits into a ₹41.05 crore fresh issue and a ₹9.72 crore offer for sale. Kwick plans to channel the fresh proceeds into working capital to fund expansion in DNA and digital forensics.
The business: The company supplies forensic products including mobile crime scene investigation vehicles and cyber forensic tools.
By the numbers: For the year ended March 2026, Kwick reported revenue of ₹105.80 crore and profit after tax of ₹13.51 crore.
What could go wrong? Revenue leans heavily on winning government tenders, exposing it to shifts in budgets and policy. Kwick also depends on a few states — chiefly Gujarat and Bihar — and lacks long-term agreements with most customers, which can drive volatility.
Why now? With bidding done, allotment is expected September 1, 2026, ahead of a tentative listing on the BSEDealroom has a profile for this one. Try Dealroom → SME platform on September 3, 2026.
The signal: Triple-digit oversubscription for a niche, government-reliant SME underscores continued appetite for small-cap listings on India's BSE SME platform, even where revenue concentration and working-capital demands carry real risk.
Read more: whalesbook.com
Image credit: Generated with Gemini
