Kwick Forensic Solutions
Kwick Forensic Solutions is a leading provider of forensic technology and solutions specializing in crime scene investigation, fingerprint science, and digital forensics. The company operates in the specialized forensic science sector, providing both products and services to law enforcement and government institutions.
Price Band
₹85 - ₹90
Lot Size
3200 Shares
Issue Size
₹50.77 Cr
Fresh Issue
₹41.05 Cr
OFS
₹9.72 Cr
Registrar
AI Sentiment Score
Current GMP
+₹43
Est. Listing: ₹133 (+47.8%)
📅 IPO Timeline
1
Open
Aug 27
2
Close
Aug 31
3
Allotment
Sep 1
4
Refund
Sep 2
5
Demat
Sep 2
6
Listing
Sep 3
✨ AI Analysis & Prediction
+34.3%
predicted listing gain
The predicted gain is adjusted slightly upward from the GMP baseline due to a very small float size creating a scarcity squeeze and exceptional financial quality (ROE 38.98%). While QIB subscription data is currently neutral (0.0x), the strong growth trajectory and heavy fresh issue component outweigh the absence of listed peers for valuation benchmarking.
💪 Strengths
- High profitability with ROCE of 44.88%
- Rapid revenue growth from 30Cr to 105Cr in 3 years
- Niche market leadership in forensic technology
⚠️ Weaknesses
- Lack of listed peers for valuation benchmarking
- Dependence on government and law enforcement contracts
🚀 Opportunities
- Expansion of digital and cyber forensic tools
- Increasing government spending on crime investigation technology
🛡️ Threats
- Changes in government procurement policies
- Rapid technological obsolescence in digital forensic tools
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| Funding the Working Capital requirement of the company | ₹48.00 |
| Purposes | ₹2.77 |
📊 Financial Overview
| Metric | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue (₹ Cr) | Rs 20.38 Cr | Rs 30.18 Cr | Rs 65.03 Cr |
| Net Profit / PAT (₹ Cr) | Rs 1.74 Cr | Rs 2.83 Cr | Rs 8.56 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 3.34 Cr | Rs 5.38 Cr | Rs 12.20 Cr |
| Borrowings (₹ Cr) | Rs 6.15 Cr | Rs 3.24 Cr | Rs 3.26 Cr |
| Total Assets (₹ Cr) | Rs 13.29 Cr | Rs 19.19 Cr | Rs 46.79 Cr |
| ROCE % | 46.94% | 44.11% | 53.73% |
📋 Live Subscription Status
QIB
0.00x
NII
0.00x
Retail
0.00x
Total
0.00x
Updated: Aug 23, 2026 8:05 AM
💼 Reservation Quota
QIB
50.00%
Retail
35.00%
NII
15.00%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Founded in March 2005, Kwick Forensic Solutions has evolved into a premier provider of forensic technology in India. The company focuses on high-precision tools for crime scene investigation, encompassing a wide range of scientific disciplines from physical evidence collection to advanced cyber forensics.
Its comprehensive business model involves the supply of forensic products such as fingerprint kits, DNA forensic solutions, and evidence collection kits. Additionally, the company provides high-value specialized assets, including Mobile Crime Scene Investigation Vehicles and handheld forensic devices, along with equipment rental services.
The company's client base is predominantly institutional, serving police departments, central and state forensic laboratories, fingerprint bureaus, and crime investigation departments. It also caters to police training academies, universities, and various government and private sector institutions.
Operationally, Kwick Forensic Solutions is backed by strong R&D capabilities, allowing it to perform rigorous product demonstrations and testing of forensic laboratory solutions to ensure accuracy and reliability in legal proceedings.
The promoters of the company include Shammer Saralal Shah, Sejal Shammer Shah, and Tulsidas Hinduja Ashok Kumar, who have steered the company toward a dominant position in the niche forensic equipment market.
Kwick Forensic Solutions is launching a book-build IPO to raise approximately ₹50.77 Crores, consisting of a fresh issue of ₹41.05 Crores and an offer for sale (OFS) of approximately 10.80 Lakh shares. The price band is set between ₹85 and ₹90 per share, with a minimum lot size of 3,200 shares. The issue opens on August 27, 2026, and closes on August 31, 2026, with listing on the BSE SME platform scheduled for September 3, 2026.
The proceeds from the fresh issue are primarily earmarked for funding the working capital requirements of the company, amounting to ₹48.00 Crores. This suggests a focus on scaling operations to meet growing demand for forensic solutions.
Financial performance shows an aggressive growth trajectory. Revenue increased from ₹30.26 Crore in 2024 to ₹65.08 Crore in 2025, reaching ₹105.80 Crore in 2026. Similarly, PAT grew from ₹2.83 Crore in 2024 to ₹13.51 Crore in 2026, reflecting strong operational leverage and profitability.
Valuation is challenging as there are no listed industry peers for direct comparison. However, the company reports a strong Basic EPS of ₹8.00 and a high Return on Net Worth (RoNW) of 32.62%. The absence of a Pure OFS structure is a positive signal, as 80.9% of the issue is fresh capital.
Key strengths include a dominant niche market position, exceptional ROE and ROCE, and a rapid revenue growth rate. Risks include the concentration of clients within government and police departments, which may involve long payment cycles.
Investors may view this as a high-growth opportunity in a specialized sector. While the growth metrics are impressive, the lack of peer benchmarks requires a cautious approach to the absolute valuation.