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Business News/ Markets / Ipo/  Brisk Technovision IPO announces price band at 156 apiece; check issue details, key dates, more
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Brisk Technovision IPO announces price band at ₹156 apiece; check issue details, key dates, more

Brisk Technovision IPO price band set at ₹156 apiece, subscription opens on January 22 and closes on January 24 with lot size of 800 shares. Brisk Technovision IPO offers IT solutions to corporate clients, including hardware goods, software, data centre design, networking management, and more.

Brisk Technovision IPO price band has been set at ₹156 apiece. Premium
Brisk Technovision IPO price band has been set at 156 apiece.

Brisk Technovision IPO price band has been set at 156 apiece. Brisk Technovision IPO will open for subscription on Monday, January 22, and close on Wednesday, January 24. Brisk Technovision IPO lot size consists of 800 shares. Investors can bid for a minimum of 800 shares and in multiples thereof. The issue price is 15.6 times the face value of 10.

The Red Herring Prospectus (RHP) states that the company's business is to offer corporate clients information technology solutions.

Also Read: Medi Assist Healthcare Services IPO: Issue subscribed 7.88x so far on day 3, all portions fully booked; GMP drops

Offering a range of third-party hardware goods, including servers, desktops, laptops, and personal computers, together with third-party software, to Indian corporate clients is the company's main line of business.

In addition, they provide other services like data centre design, supply, and installation; enterprise networking management; email management; system integration; and annual maintenance contracts (AMC) for managed services, monitoring, and hardware and system maintenance.

Also Read: Qualitek Labs IPO: Issue price set at 100 per share; check key dates, lot size and other details

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The company has started to concentrate on expanding the range of services it offers throughout the past three fiscal years. Currently, Maharashtra is where the business is mostly located (both in terms of sales of goods and services).

As per the RHP, there are no listed companies which are engaged in similar line of business to that of the company.

Between the fiscal year ending on March 31, 2023, and March 31, 2022, Brisk Technovision Limited's revenue fell by -16.64% but its profit after tax (PAT) increased by 81.58%.

Also Read: Medi Assist IPO last date of subscription: GMP falls, check review, issue details, key dates. Should you subscribe?

Brisk Technovision IPO detail

Brisk Technovision IPO comprises of an offer-for-sale (OFS) of 8,00,000 equity shares by the selling shareholders aggregating to 12.40 crore. Sankarnarayanan Ramasubramanian and Ganapati Chittaranjan Kenkare are the promoter selling shareholders. They would be selling 4,00,000 equity shares at a value of 6.24 crore apiece.

Post-issue, the promoter will hold 59.99% of the shares, down from 99.99% pre-issue.

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

Tentatively, Brisk Technovision IPO basis of allotment of shares will be finalised on Thursday, January 25, and the company will initiate refunds on Monday, January 29, while the shares will be credited to the demat account of allottees on the same day following refund. Brisk Technovision share price is likely to be listed on BSE SME on Tuesday, January 30.

Also Read: Shree Marutinandan Tubes IPO allotment to be finalised today; GMP steady, steps to check allotment status

Brisk Technovision IPO GMP today

Brisk Technovision IPO GMP or grey market premium was 0, which meant shares were trading at their issue price of 156 with no premium or discount in the grey market according to investorgain.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

 

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Published: 17 Jan 2024, 02:49 PM IST
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