Kwick Forensic Solutions IPO: Price Band, Lot Size, Financials & Review
Kwick Forensic Solutions IPO listed on BSE on Thu, 3 Sep 2026. The issue was subscribed 293.05x overall.
- Open Date
- 27 Aug 2026
- Close Date
- 31 Aug 2026
Last updated
- Price band
- ₹85 – ₹90
- Lot size
- 1,600 shares
- Min. investment
- ₹2,88,000
- Issue size
- ₹50.77 Cr
- Last GMP
- +₹78
- Subscribed
- 🔥 293.05x
Kwick Forensic Solutions IPO details
Kwick Forensic Solutions IPO is a ₹50.77 Cr book-building IPO on the SME segment, listing on BSE. It combines a fresh issue of ₹41.05 Cr (80.85%) with an offer for sale of ₹9.72 Cr (19.15%) by existing shareholders. Only the fresh issue money goes to the company.
The issue was open from Thu, 27 Aug 2026 to Mon, 31 Aug 2026. Allotment was finalised on Tue, 1 Sep 2026, and the shares listed on BSE on Thu, 3 Sep 2026.
The price band is ₹85 to ₹90 per share and the lot size is 1600 shares, so the minimum retail application is ₹2,88,000. Retail investors can apply for up to 2 lots (3,200 shares, ₹2,88,000).
Bigshare Services Pvt Ltd is the registrar, and Corporate Capitalventures Pvt Ltd is the book running lead manager.
Grey market premium (GMP)
Day-wise GMP →The last Kwick Forensic Solutions IPO GMP before listing was +₹78 (+86.67% against the upper price band of ₹90), implying an estimated listing price of ₹168. Across 10 days of tracking, GMP ranged from +₹64 (25 Aug) to +₹85 (31 Aug).
| Last GMP | +₹78 |
|---|---|
| GMP vs upper band | +86.67% |
| Estimated listing price | ₹168 |
| Highest (31 Aug) | +₹85 |
| Lowest (25 Aug) | +₹64 |
Grey market trading is unofficial and unregulated. GMP is a sentiment indicator, not a guarantee of the listing price. See the Kwick Forensic Solutions IPO day-wise GMP.
Subscription
Day-wise subscription →Kwick Forensic Solutions IPO was subscribed 293.05x overall: QIB 227.85x, NII 320.25x and retail 318.52x.
| Category | Subscribed |
|---|---|
| QIB | 227.85x |
| NII | 320.25x |
| └ bNII (above ₹10 lakh) | 349.00x |
| └ sNII (₹2–10 lakh) | 262.75x |
| Retail | 318.52x |
| Total | 293.05x |
Final figures at the close of bidding on 31 Aug 2026. Category-wise bids, application-wise breakup and allotment chances are on the Kwick Forensic Solutions IPO day-wise and category-wise subscription page.
Share reservation by category
| Category | Shares offered | Share of issue |
|---|---|---|
| Anchor Investors | 16,03,200 | 29.92% |
| Qualified Institutions | 10,70,400 | 19.98% |
| Non-Institutional | 8,06,400 | 15.05% |
| └ BNII | 5,37,600 | 10.03% |
| └ SNII | 2,68,800 | 5.02% |
| Retail Investors | 18,78,400 | 35.06% |
| Total | 53,58,400 | 100.00% |
Shares offered include the anchor investor portion, which is allotted a day before the issue opens. Subscription figures exclude anchors, so category sizes on the subscription page are smaller.
Kwick Forensic Solutions IPO lot size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,88,000 |
| Retail (Max) | 2 | 3,200 | ₹2,88,000 |
| S-HNI (Min) | 3 | 4,800 | ₹4,32,000 |
| S-HNI (Max) | 6 | 9,600 | ₹8,64,000 |
| B-HNI (Min) | 7 | 11,200 | ₹10,08,000 |
Amounts at the upper end of the price band.
Issue structure and valuation
It combines a fresh issue of ₹41.05 Cr (80.85%) with an offer for sale of ₹9.72 Cr (19.15%) by existing shareholders. Only the fresh issue money goes to the company.
At the upper price band of ₹90, the issue is priced at 11.25x pre-issue earnings and 14.29x post-issue earnings per share.
The post-issue P/E is higher because the fresh issue adds new shares, which spreads the same profit over more shares.
Promoter holding falls from 88.54% before the issue to 64.65% after it.
| EPS (pre-issue) Latest earnings per share before the issue | ₹8 |
|---|---|
| P/E (pre-issue) Upper price band ÷ pre-issue EPS | 11.25x |
| EPS (post-issue) EPS on the enlarged share capital | ₹6.3 |
| P/E (post-issue) Upper price band ÷ post-issue EPS | 14.29x |
| Promoter holding (pre-issue) | 88.54% |
| Promoter holding (post-issue) | 64.65% |
Kwick Forensic Solutions Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹65.08 Cr to ₹105.8 Cr, and profit after tax rose from ₹8.56 Cr to ₹13.51 Cr. The PAT margin for 31 Mar 2026 was 12.77%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 60.53 | 46.79 | 19.19 |
| Total Income | 105.80 | 65.08 | 30.26 |
| Profit After Tax | 13.51 | 8.56 | 2.83 |
| EBITDA | 19.06 | 12.25 | 5.45 |
| Net Worth | 41.41 | 27.90 | 9.86 |
| Reserve & Surplus | 24.53 | 25.79 | 7.93 |
| Total Borrowings | 0.00 | 3.26 | 3.24 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 38.98 | 45.34 | 41.43 |
| ROCE % | 44.88 | 38.15 | 39.07 |
| Debt / Equity | 0.00 | 0.12 | 0.33 |
| RoNW % | 32.62 | 30.68 | 28.75 |
| Pat Margin % | 12.78 | 13.16 | 9.39 |
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective |
|---|---|
| 1 | Funding the Working Capital requirement of our company |
| 2 | General Corporate Purposes |
About Kwick Forensic Solutions Limited
Kwick Forensic Solutions Limited (formerly known as Kwick Soft Solutions Private Limited) was incorporated in March 2005. The Company is engaged in providing forensic science, evidence management, cyber and digital forensics, DNA forensics and law-enforcement solutions across India. Over the years, it has evolved from a software development company into a specialised provider of integrated forensic products, technologies and services for law-enforcement and investigative agencies.
Business Evolution
The Company initially focused on software development, 3D rendering, animation and simulation technologies. Subsequently, it diversified into forensic science and training technologies. Since FY2015, the Company has progressively developed and supplied end-to-end forensic products, solutions, tools and technologies covering crime scene investigation, fingerprint science, cyber and digital forensics, social-media analytics and evidence management.
Its business model combines the development, sourcing, supply, installation, demonstration, training and technical support of forensic equipment and solutions. The Company also sources specialised products from both international and domestic original equipment manufacturers (OEMs). In recent years, it has increased its reliance on domestic procurement to improve supply continuity, reduce procurement risks and enhance cost efficiency.
Products and Services
The Company offers a diversified portfolio of forensic and law-enforcement products and services, including:
Fingerprint and physical evidence kits
Crime scene and evidence collection kits
Mobile Crime Scene Investigation (CSI) Vehicles
Cyber and digital forensic tools and solutions
DNA forensic solutions
Handheld forensic devices and equipment
Forensic equipment rental services
Evidence management and related technology solutions
Social-media analytics and investigative solutions
In addition to supplying products and equipment, the Company provides product demonstrations, installation services, operational training and post-delivery technical support. This integrated approach enables customers to receive not only forensic equipment but also the associated implementation and operational assistance required for effective deployment.
Customer Base
The Company's customer base primarily comprises institutions involved in law enforcement, criminal investigation, forensic examination and professional training. Its customers include:
Police departments at the central and state levels
Central and State Forensic Science Laboratories
Fingerprint Bureaus
Crime Investigation Departments
Police training academies
Universities and educational institutions
Government agencies and other public-sector institutions
Selected private-sector organisations requiring forensic and investigative solutions
The Company's exposure to government and law-enforcement institutions provides it with access to a specialised market where technical capabilities, product reliability, compliance requirements and after-sales support are important considerations in procurement decisions.
Research, Development and Technical Capabilities
The Company has established R&D and technical capabilities to support the development, demonstration and implementation of forensic solutions. Its branch facility is utilised for research and development activities, product demonstrations and proof-of-concept forensic laboratory activities. These facilities enable the Company to evaluate and demonstrate forensic technologies and provide customers with practical exposure to its products and solutions before deployment.
The Company's capabilities span multiple areas of forensic science and technology, including crime scene investigation, fingerprint examination, digital and cyber forensics, DNA forensics, evidence management and investigative analytics.
Quality and Regulatory Credentials
The Company's quality-management and information-security framework is supported by various certifications and registrations, including:
ISO 9001:2015 – Quality Management System
ISO 14001:2015 – Environmental Management System
ISO/IEC 20000-1:2018 – IT Service Management System
ISO/IEC 27001:2022 – Information Security Management System
Registration with MSME
Registration with DSIR
Registration with NSIC
These certifications and registrations support the Company's focus on quality management, environmental practices, IT service management and information-security controls.
Human Resources
As of July 31, 2026, the Company had a total workforce of 45 personnel, comprising 33 employees on its payroll and 12 employees engaged on a contractual basis.
Its personnel are deployed across key functional areas, including:
Administration
Finance
Legal and Compliance
Operations
Research and Development
Sales and Marketing
Tendering
Management
The Company's workforce structure is aligned with its business model, which requires a combination of technical and forensic expertise, tender-management capabilities, operational support, sales and marketing resources, and corporate and compliance functions.
Overall Business Profile
Overall, Kwick Forensic Solutions Limited has developed from a software-focused enterprise into a specialised forensic science and law-enforcement solutions provider with capabilities across physical forensics, fingerprint science, DNA forensics, cyber and digital forensics, evidence management and investigative technologies. Its integrated offering—covering products, sourcing, demonstrations, installation, training and post-sales technical support—allows it to address multiple requirements of police departments, forensic laboratories and other investigative institutions.
The Company's continued focus on R&D, technology-enabled forensic solutions, domestic sourcing, quality systems and technical support forms an important part of its business strategy and positions it to participate in the growing adoption of modern forensic and digital-investigation technologies in India.
Promoters
Mr. Shammer Saralal Shah
Mrs. Sejal Shammer Shah
Mr. Tulsidas Hinduja Ashok Kumar
Contact details
Kwick Forensic Solutions Ltd.
New No 12 Old No 11 East Park Road,
Shenoy Nagar
Chennai, Tamil Nadu, 600030
Phone: +91-8807110249
Email: cs@kwickforensic.com
Website: https://kwickforensic.com/
Kwick Forensic Solutions IPO FAQs
- What is the Kwick Forensic Solutions IPO price band?
- The Kwick Forensic Solutions IPO price band is ₹85 to ₹90 per share.
- What is the Kwick Forensic Solutions IPO lot size and minimum investment?
- The Kwick Forensic Solutions IPO lot size is 1600 shares. The minimum retail investment is ₹2,88,000 for one lot at the upper price band. Retail investors can apply for up to 2 lots (3,200 shares), costing ₹2,88,000.
- When was Kwick Forensic Solutions IPO open for subscription?
- Kwick Forensic Solutions IPO was open for subscription from Thu, 27 Aug 2026 to Mon, 31 Aug 2026.
- What is the Kwick Forensic Solutions IPO subscription status?
- Kwick Forensic Solutions IPO was subscribed 293.05x overall: QIB 227.85x, NII 320.25x and retail 318.52x. Day-wise and category-wise figures are on the subscription page.
- What was the Kwick Forensic Solutions IPO GMP before listing?
- The last Kwick Forensic Solutions IPO GMP before listing was +₹78 (+86.67% against the upper price band of ₹90), implying an estimated listing price of ₹168. Across 10 days of tracking, GMP ranged from +₹64 (25 Aug) to +₹85 (31 Aug). GMP is an unofficial grey market indicator and can change quickly.
- What is the Kwick Forensic Solutions IPO allotment date?
- The Kwick Forensic Solutions IPO basis of allotment was finalised on Tue, 1 Sep 2026. You can check your allotment status on the Bigshare Services Pvt Ltd website.
- What is the Kwick Forensic Solutions IPO listing date?
- Kwick Forensic Solutions IPO listed on BSE on Thu, 3 Sep 2026.
- Is the Kwick Forensic Solutions IPO a fresh issue or an offer for sale?
- It combines a fresh issue of ₹41.05 Cr (80.85%) with an offer for sale of ₹9.72 Cr (19.15%) by existing shareholders. Only the fresh issue money goes to the company.
- Who are the registrar and lead managers of the Kwick Forensic Solutions IPO?
- The registrar for the Kwick Forensic Solutions IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Corporate Capitalventures Pvt Ltd.
Data is compiled from the prospectus, stock exchanges and market sources and is for information only. It is not investment advice; read the RHP before applying.