Bench Mark Infotech Services IPO: Allotment Status, GMP, Listing Date and Review

Bench Mark Infotech Services was the runaway hit of the SME issues that closed on 29 September. Its ₹42.44 crore issue was subscribed 103.12 times, with 62,781 applications and every category oversubscribed by more than 85 times. The Kolkata company builds IT and network infrastructure for government departments, PSUs and businesses.

Allotment is done and shares list on NSE SME on 5 October. The grey market premium of about ₹26 points to a listing gain of around 24%.

Bench Mark Infotech Services IPO at a glance

With retail subscribed nearly 97 times, only about one in 97 retail applicants will have received the minimum two lots.

What Bench Mark Infotech Services actually does

Bench Mark Infotech Services Ltd was incorporated in 2007 and is promoted by Vineet Kumar Gupta and Juli Gupta. It provides integrated IT and digital infrastructure: networking, structured cabling, fibre optics, CCTV surveillance, data centres, cloud solutions and AI labs.

Its customers include government departments, PSUs, institutions and private companies across India. Projects are typically won through tenders and executed with a lean in-house team of 54 professionals plus partners.

Of the fresh issue, ₹30 crore will fund working capital, which is the lifeblood of a project business that waits months to be paid by public-sector clients.

The numbers behind the business

Here are the figures from the offer documents, in ₹ crore, as reported by IPO data sites.

What these numbers tell us, in plain language:

• Growth is strong. Revenue rose from ₹34.8 crore in FY24 to ₹50.8 crore in FY25 and ₹64 crore in FY26. Profit grew from ₹1.5 crore to ₹10.2 crore.
• Margins expanded sharply. EBITDA margin went from 6.6% to 22%, and net margin to 16%. That is high for a systems integrator and suggests either richer project mix or one-off gains; it is worth checking whether it lasts.
• Receivables are large. Total assets of ₹74 crore exceed annual revenue of ₹64 crore, which typically reflects money owed by clients. That is normal for government contractors but ties up cash.
• Valuation is fair. Post-issue P/E is about 15.4x, and debt is minimal at 0.10 times equity.

How the subscription ended

Anchors put in ₹12.06 crore on 24 September. By the close on 29 September, QIBs had bid 88.62 times, NIIs 136.92 times and retail 96.90 times, for 103.12 times overall across 62,781 applications.

The GMP story so far

The grey market premium was about ₹26 on 4 October, roughly 24% over the ₹110 issue price. That points to a listing near ₹136.

How to check Bench Mark Infotech Services IPO allotment status

1. Go to the KFin Technologies IPO allotment page, or the NSE allotment status page.
2. Select Bench Mark Infotech Services from the list of issues.
3. Enter your PAN, application number or DP/Client ID.
4. Submit to see how many shares you were allotted.

The basis of allotment was finalised on 30 September 2026. Refunds for unsuccessful applicants and share credits to demat accounts were processed on 1 October. If shares were allotted, they should already show in your demat account and will be tradable from the listing on 5 October on NSE SME.

The listing outlook

A strong listing near ₹136 looks likely given the demand. Anchor lock-ins reduce early institutional selling.

What to weigh before you apply

Government clients pay slowly

Public-sector projects are a steady source of work but notorious for delayed payments. The company’s large receivables reflect that, and any further delays would strain cash flow.

Can margins hold?

Net margin rose from 4% to 16% in two years. Systems integration is usually a lower-margin business, so investors should watch whether FY27 keeps up.

Strengths and risks

Strengths

• Subscribed 103.12 times, with every category above 85 times
• Profit up from ₹1.48 crore to ₹10.22 crore in two years
• Post-issue P/E of about 15.4x
• Almost debt-free
• Anchor book of ₹12.06 crore

Risks

• Heavy dependence on government and PSU contracts
• Large receivables and working-capital needs
• Margin jump may not be sustainable
• Small in-house team of 54
• Promoters selling ₹5.04 crore through the OFS; SME premiums can fade quickly

Your chances of getting an allotment

• Retail investors bid 96.90 times their quota of about 1,070 lots. Each successful applicant gets two lots, so only around 535 of the roughly 51,800 retail applicants will have received shares, about 1 in 97.

What to watch from here

• Listing price on 5 October against ₹110
• Order wins and receivable days in the first post-listing results
• Whether net margin holds near 16%
• Anchor lock-in expiry dates

Bench Mark Infotech Services IPO: frequently asked questions

Disclaimer: This article is for information and education only and is not investment advice. GMP is unofficial and data may differ between sources. Read the RHP and consult a SEBI-registered adviser before investing. Data as of 4 October 2026.