Bench Mark Infotech Services IPO
Bench Mark Infotech Services IPO is an SME IPO raising ₹42 Cr at ₹104 – ₹110 a share. It listed on 5 Oct 2026 at ₹110, 0.0% against its issue price of ₹110, and trades at ₹188 today (+71.3% since issue). It was subscribed 239× in total.
239.2 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
What this company actually does
Read out of the prospectus’s business section, stripped of its marketing language.
Bench Mark Infotech Services Limited is an integrated IT and digital infrastructure solutions provider that designs, supplies, installs, commissions and maintains networks, communication systems, surveillance, and connectivity for government departments, PSUs and institutional clients across India. Their work covers LAN/WAN, wireless, structured cabling, smart/e-classrooms, audio-visual systems, access control, CCTV, fibre optic networks, and newer lines in data centres, cloud services, cybersecurity and AI lab infrastructure. Most of their business is project-based tenders for government and PSU customers, with a smaller recurring fibre-leasing and AMC book.
How it earns
Primarily through tender-driven, project-based contracts where they procure hardware/software from OEMs and authorized vendors and integrate them into end-to-end solutions for the client, supplemented by recurring revenue from fibre-optic line rentals and annual maintenance contracts.
Who buys
Predominantly government, PSU and government-linked institutional buyers. Named clients include Railtel Corporation of India, BSNL (empanelled National Level System Integrator), Bihar State Electronics Development Corporation Limited (BSEDC), NTPC, Steel Authority of India (SAIL), Indian Oil Corporation (IOCL), PowerGrid (PGCIL), Airports Authority of India (AAI), Damodar Valley Corporation (DVC), ONGC, CPWD, Coal India subsidiaries (Mahanadi Coalfields, SECL, CCL), Indian Air Force (via Railtel), Indian Railways, Patna Smart City, Bihar Police Academy (Rajgir), Manipur High Court (via Railtel) and IPGME&R Kolkata. In FY26 they had 41 customers, of which 23 (56.10%) were repeat customers; average relationship with the top customer was 11 years.
Scale
Incorporated in 2007; 19+ years of operating history; registered office in Kolkata (West Bengal) with a branch office in Patna and on-site technical manpower deployed across eastern India; FY26 revenue from operations ₹6,052.76 lakhs (~₹60.53 crore, converting 1 crore = 100 lakh) versus ₹3,409.51 lakhs in FY24 (~₹34.10 crore), a 33.24% CAGR; 14 successful bids in FY26 against a total customer base of 41.
What it says sets it apart
- Empanelled with BSNL as a National Level System Integrator and with RailTel as a Business Partner, giving direct access to central government and PSU procurement opportunities beyond open tenders.
- Holds Infrastructure Provider Category-I (IP-I) registration, which permits establishing, maintaining and leasing telecom infrastructure assets such as dark fibre, right of way, duct space and towers to licensed telecom operators.
- End-to-end 'under one roof' delivery model covering design, supply, installation, commissioning, AMC and fibre civil works, reducing dependence on third parties.
- Long-tenured customer base with repeat orders — 56-68% of customers are repeat in each of the last three fiscal years, and average relationship with the top customer is 9-12 years.
- Quality and information-security certified: ISO 9001:2015 (quality management) and ISO/IEC 27001:2022 (information security management).
Revenue mix
The prospectus gives overlapping breakdowns here, so the shares are not shown.
The numbers at a glance
The price they’re asking →derived: cut-off price Rs110 / stated EPS Rs9.4 (FY26 (year ended March 31, 2026), Basic and Diluted EPS both Rs 9.40, post-Bonus Issue adjustment (Board resolution dated May 08, 2026), calculated as per AS 20). Stated figures are as printed in the prospectus; margins, growth and the borrowing ratio are computed from its own summary table. A multiple is one lens, not a verdict.
The last few years in numbers
From the prospectus’s own summary financial table (restated standalone). Margins and growth are computed from the stated figures; everything else is as printed.
| Period | Revenue | Profit after tax | PAT margin | Net worth | Borrowings |
|---|---|---|---|---|---|
| FY2026 | ₹61 Cr+21% | ₹10 Cr+75% | 16.9% | ₹27 Cr | ₹3 Cr |
| FY2025 | ₹50 Cr+47% | ₹6 Cr+294% | 11.7% | ₹16 Cr | ₹1 Cr |
| FY2024 | ₹34 Cr | ₹1 Cr | 4.3% | ₹11 Cr | ₹1 Cr |
Where the money goes
The offer →Most of this issue is new shares — the money raised goes to the company, not to exiting shareholders.
How its cohort has done
185 SME issues listed in 2026 that we can price today. This is the group this issue belongs to.
Neither figure is a forecast for this issue — they describe what happened to comparable issues. Full cohort analytics →
What we hold for this issue
Stated up front on every issue, so a sparse page reads as a fact about the source rather than a broken one.
Led by GYR Capital Advisors Private Limited — median +43.5% across the 30 of its issues we can price. All lead managers →
What happens when
Next: the UPI mandate expires on 10 Nov 2026.
What to watch
- Priced at 11.7× earnings — 56% below the median of the peers the issuer itself names.
- Its cohort's record: median −2.7% since issue price, 51.9% now below it — a base rate, not a forecast.
Each line restates a disclosure from the prospectus or the exchanges — nothing here is a recommendation to apply to this issue.
Track BENCH MARK INFOTECH SER L
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Figures are as published by the exchanges and the issuer’s prospectus. MarketPing publishes facts, comparisons and history only — nothing here is a recommendation to apply to this issue, and we do not publish grey market premium.