Bench Mark Infotech Services IPO
Bench Mark Infotech Services IPO Details
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Open Date
25 Sep 2026
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Close Date
29 Sep 2026
- IPO Price Range
₹ 104 to ₹110
- IPO Size
₹ 42.44 Cr
Bench Mark Infotech Services IPO Timeline
Last Updated: 24 September 2026 5:43 AM by 5paisa
Bench Mark Infotech Services Limited is an integrated IT and digital infrastructure solutions company serving government departments, public sector undertakings, institutional customers and private-sector clients across India. Its business covers integrated IT solutions, annual maintenance and facility support services, and fibre optic infrastructure solutions.
The company designs, supplies, installs, commissions and maintains IT infrastructure spanning network and connectivity solutions, audio-visual and display systems, safety, security and access-control systems, infrastructure enclosures, data storage and data-centre solutions. Its fibre infrastructure operations include network deployment, trenching, ducting and restoration services, along with leasing and renting of fibre infrastructure.
Bench Mark also undertakes turnkey project execution, system integration, testing and commissioning. It is empanelled with BSNL and RailTel Corporation of India and is registered as an Infrastructure Provider Category-I, enabling it to establish, maintain and lease telecom infrastructure such as dark fibre, right of way, duct space and towers.
Established in: 2007
Chairman and Managing Director: Vineet Kumar Gupta
Peers:
Dynacons Systems & Solutions Limited
Xtranet Technologies Limited
Esconet Technologies Limited
Bench Mark Infotech Services Objectives
The company proposes to utilise the proceeds from the fresh issue towards:
1. Funding the working capital requirements of the company
2. General corporate purposes
Up to ₹30.00 crore of the Net Proceeds is proposed to be deployed towards working capital requirements, comprising up to ₹10.00 crore in FY27 and up to ₹20.00 crore in FY28.
The IPO also includes an Offer for Sale of up to 4,58,000 equity shares by promoter selling shareholder Vineet Kumar Gupta. The company will not receive any proceeds from the Offer for Sale.
Bench Mark Infotech Services IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹42.44 Cr |
| Offer For Sale | ₹5.04 Cr |
| Fresh Issue | ₹37.40 Cr |
Bench Mark Infotech Services IPO Lot Size
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Individual Investors (IND) (Min) | 2 | 2400 | ₹249600 |
| Individual Investors (IND) (Max) | 2 | 2400 | ₹264000 |
| HNI (Min) | 3 | 3600 | ₹374400 |
| S-HNI (Max) | 7 | 8400 | ₹924000 |
| B-HNI (Min) | 8 | 9600 | ₹998400 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Revenue | 34.10 | 50.04 | 60.53 |
| EBITDA | 2.28 | 8.28 | 14.06 |
| PAT | 1.48 | 5.83 | 10.22 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Total Assets | 39.33 | 60.39 | 74.05 |
| Share Capital | 0.11 | 0.11 | 0.11 |
| Total Liabilities | 39.33 | 60.39 | 74.05 |
| Particulars (In ₹ Crores) | FY24 | FY25 | FY26 |
| Net Cash Generated From / (Used In) Operating Activities | 4.87 | 6.54 | (6.77) |
| Net Cash Generated From / (Used In) Investing Activities | 0.19 | (0.92) | (1.06) |
| Net Cash Generated From / (Used In) Financing Activities | (3.22) | (0.84) | 1.67 |
| Net Increase / (Decrease) In Cash And Cash Equivalents | 1.84 | 4.78 | (6.15) |
Strengths
1. Bench Mark operates an integrated model covering design, supply, installation, commissioning, system integration, maintenance and fibre infrastructure services.
2. The business spans networking, audio-visual systems, surveillance and access control, data-centre infrastructure, fibre networks and related technology infrastructure.
3. It has long-standing customer relationships, with the largest customer relationship averaging 11 years in FY26.
4. The company is empanelled with BSNL and RailTel, providing access to technology and infrastructure opportunities involving government departments and PSUs.
5. Revenue from operations increased from ₹34.10 crore in FY24 to ₹60.53 crore in FY26, alongside expansion in EBITDA and PAT margins.
Weaknesses
1. Customer concentration is high. The top 10 customers accounted for 94.19% of revenue from operations in FY26.
2. The business is working-capital intensive, with trade receivables rising to ₹54.98 crore in FY26, equivalent to 90.83% of revenue from operations.
3. Receivables of ₹10.17 crore had remained outstanding for more than one year as of 31 March 2026, representing 38.31% of net worth.
4. Net cash flow from operating activities turned negative at ₹6.77 crore in FY26 despite higher reported revenue and profitability.
5. A substantial portion of business comes from government departments, PSUs and government-linked institutions, exposing cash conversion to tender processes, certifications, approvals and payment cycles.
Opportunities
1. India's continuing investment in digital infrastructure and e-governance can expand opportunities for IT infrastructure and system-integration providers.
2. Growing adoption of cloud infrastructure, data centres, AI and high-performance computing can create demand for advanced enterprise technology infrastructure.
3. Expansion of fibre networks and high-speed connectivity can support the company's fibre deployment, leasing and related infrastructure activities.
4. Empanelment with BSNL and RailTel can support participation in procurement opportunities involving central government departments and PSUs.
5. The company's integrated capabilities provide scope to expand across adjacent services including data-centre infrastructure, managed support and advanced networking solutions.
Threats
1. Government and PSU contracts are generally tender-driven, creating pricing pressure and uncertainty around winning new projects.
2. Rapid changes in IT, networking, cloud and infrastructure technologies require the company to continuously adapt its capabilities and solutions.
3. Delays in customer approvals, budget releases and milestone certifications could further lengthen collection cycles and increase working-capital requirements.
4. Supply disruptions or higher prices for IT hardware and equipment could affect project execution, costs and margins.
5. Competition from larger IT infrastructure and system-integration companies may affect pricing, tender wins and the company's ability to expand its market presence.
1. Revenue from operations increased from ₹34.10 crore in FY24 to ₹60.53 crore in FY26, while PAT increased from ₹1.48 crore to ₹10.22 crore.
2. EBITDA margin improved from 6.56% in FY24 to 21.97% in FY26, alongside an increase in PAT margin from 4.34% to 16.88%.
3. The company provides end-to-end IT and digital infrastructure services across networking, security, audio-visual, data-centre and fibre infrastructure solutions.
4. Its customer base includes government departments, PSUs and institutional clients, supported by empanelments with BSNL and RailTel.
5. Up to ₹30.00 crore of the IPO's Net Proceeds is proposed to fund working capital, which is significant given the company's project-based business model and longer collection cycles.
India's technology and networking ecosystem is expanding alongside digitalisation, cloud adoption, data-centre investment, AI adoption and government-led digital infrastructure programmes. The industry information included in the RHP indicates that India's IT industry is expected to reach approximately US$350 billion in 2026 and contribute around 10% of GDP. India's IT industry revenue was estimated at US$283 billion in FY25, including US$224 billion of exports.
Cloud adoption is also supporting data-centre infrastructure growth, while government cloud initiatives such as NIC National Cloud Services and GI Cloud (MeghRaj) support more than 300 government departments. The broader Indian technology industry is projected to reach US$500 billion in revenue by 2030.
Bench Mark operates within this ecosystem through integrated IT infrastructure, networking, surveillance, data-centre solutions, fibre infrastructure and maintenance services. Its exposure to government departments and PSUs provides access to public-sector digital infrastructure spending, although tender dependence and relatively long customer payment cycles remain important characteristics of the business model.
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FAQs
Bench Mark Infotech Services IPO opens from 25 September 2026 to 29 September 2026.
The size of the Bench Mark Infotech Services IPO is approximately ₹42.44 crore at the upper price band. It comprises a fresh issue of approximately ₹37.40 crore and an Offer for Sale of approximately ₹5.04 crore.
The price band of Bench Mark Infotech Services IPO is fixed at ₹104 to ₹110 per share.
1. Login to your 5paisa demat account and select the issue in the current IPO section.
2. Enter the number of lots and the price at which you wish to apply for the Bench Mark Infotech Services IPO.
3. Enter your UPI ID and click on submit. Your bid will then be placed with the exchange.
4. You will receive a mandate notification to block funds in your UPI app.
The minimum application size for an Individual Investor is two lots, equivalent to 2,400 shares. This requires an investment of ₹2,49,600 at the floor price of ₹104 per share.
The basis of allotment for the Bench Mark Infotech Services IPO is expected to be finalised on 30 September 2026.
The Bench Mark Infotech Services IPO is tentatively scheduled to list on NSE on 5 October 2026.
GYR Capital Advisors Private Limited is the book-running lead manager for the Bench Mark Infotech Services IPO.
The fresh-issue proceeds are proposed to be used for:
1. Funding the working capital requirements of the company, with up to ₹30.00 crore allocated towards this purpose
2. General corporate purposes
The company will not receive any proceeds from the Offer for Sale.