Kwick Forensic Solutions IPO
smelistedAbout the company
Kwick Forensic Solutions was incorporated in 2005, with an initial thrust towards software products for 3D rendering, animation, and simulations targeted at the construction industry. From FY15 onwards, the company ventured into fingerprint science, cyber/digital forensics, and social media/big data analytics, ultimately becoming specialised in portable devices for evidence identification and digitisation. The company offers end-to-end products, solutions, tools and technologies in forensic sciences, fingerprint science, cyber/digital forensics, and social-media/big-data analytics, with a special emphasis on total evidence management and law enforcement solutions in India. The sales of goods business consists of four verticals: (1) Forensic Sciences & Physical Evidence Solutions, (2) Mobile CSI Vehicle (MCSIV), (3) Cyber & Digital Forensics, and (4) DNA Forensics. The sales of services business consist of rentals/sub-leases of forensic equipment, typically including manpower, such as the portable liquor detection scanners. From mid-FY25, the company stopped supplying complete forensic vehicles and began supplying just digital/scientific kits and outsourcing the vehicle procurement and fabrication work to the local dealers. Forensic Science & Physical Evidence Solutions contributed 36.9%, Mobile CSI Vehicles 10%, Cyber & Digital Forensics 33.3%, and DNA Forensics 10.7% to the company’s revenue during FY26. The number of vehicles sold was 21 during FY24 but 25 during FY26 (direct sales); however, in FY26, there were also 95 vehicles for which the company provided kits, using the collaborative approach. Geographical wise, Gujarat contributed 29.3%, followed by Maharashtra with 11.3%, Tamil Nadu with 10.5%, Bihar with 9.1%, Karnataka with 8.2%, and Rajasthan with 7.8%.
GMP trend (Grey Market Premium by date)
| Date | GMP (₹) | Est. Listing | Change |
|---|---|---|---|
| 31 Aug | ₹85 | ₹175 | +8 |
| 30 Aug | ₹77 | ₹167 | +1 |
| 29 Aug | ₹76 | ₹166 | 0 |
| 28 Aug | ₹76 | ₹166 | 0 |
| 27 Aug | ₹76 | ₹166 | -2 |
| 26 Aug | ₹78 | ₹168 | -1 |
| 25 Aug | ₹79 | ₹169 | -1 |
| 24 Aug | ₹80 | ₹170 | 0 |
Strengths
Risks
Financial performance (₹ Cr)
Subscription breakup (final, times)
IPO Roadmap / Timeline
IPO Opens
Completed27 Aug 2026Bidding starts for all investor categories
IPO Closes
Completed31 Aug 2026Last day to place your bid
Basis of Allotment
Completed02 Sept 2026Share allotment finalised
Refund Initiation
Completed03 Sept 2026Refunds credited for non-allottees
Credit to Demat
Completed04 Sept 2026Allotted shares credited to demat account
Listing on Exchange
Completed03 Sept 2026Shares list on NSE / BSE
Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.
Lot size & minimum investment
| Investor Type | Min Lots | Min Shares | Min Amount | Max Lots | Max Amount | Notes |
|---|---|---|---|---|---|---|
| Retail / Individual | 1 | 1600 | ₹144,000 | 1 | ₹144,000 | 1 lot only |
| HNI | 2 | 3200 | ₹288,000 | 2 | ₹288,000 | Min 2 lots |
Shares reserved per category & allotment probability
| Category | Reservation | Shares Offered | Amount (₹ Cr) | Shares Bid | Subscribed | Allotment % |
|---|---|---|---|---|---|---|
| QIB | 50% | 2,914,286 | 25.5 | 0 | 0.00x | 100% |
| NII | 15% | 874,286 | 7.65 | 11,190,861 | 12.80x | 7.8% |
| Retail | 35% | 2,040,000 | 17.85 | 26,805,600 | 13.14x | 7.6% |
Retail is a lottery-based allotment when oversubscribed; QIB/NII get pro-rata. Probability ≈ 1 / subscription times (100% if under-subscribed).
Date-wise daily subscription (all categories)
| Date / Day | Retail (x) | QIB (x) | NII (x) | EMP (x) | OTHER (x) | Total (x) | Total |
|---|---|---|---|---|---|---|---|
27 Aug Day 1 | 1.72x | 0.00x | 1.79x | 0.00x | 0.00x | 1.32x | 4.83x |
28 Aug Day 2 | 6.71x | 0.00x | 7.94x | 0.00x | 0.00x | 4.29x | 18.94x |
29 Aug Day 3 | 9.59x | 0.00x | 10.84x | 0.00x | 0.00x | 6.11x | 26.54x |
30 Aug Day 4 | 13.14x | 0.00x | 12.80x | 0.00x | 0.00x | 7.75x | 33.69x |
31 Aug Day 5 | 13.14x | 0.00x | 12.80x | 0.00x | 0.00x | 8.74x | 34.68x |
Date-wise cumulative subscription figures per category, refreshed each bidding day.