Kwick Forensic Solutions IPO is an SME IPO raising ₹51 Cr at ₹85 – ₹90 a share. It listed on 3 Sept 2026 at ₹150, +66.7% against its issue price of ₹90, and trades at ₹156 today (+72.9% since issue). It was subscribed 267× in total.
267.1 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Read from the 383-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 14 specific to this company; 36 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
In 2015, the Issuer began undertaking forensic-product activities that were not in line with the then main objects clause of its Memorandum of Association... Registrar of Companies, Chennai, vide Order for Adjudication of Penalty dated June 30, 2026, imposed a penalty of ₹2,00,000 on the Company and ₹50,000 on Mr. Shammer Saralal Shah under Section 450 of the Companies Act, 2013
the effective cost of acquisition ("COA") for such investors post bonus issue works out to ₹71.125 per Equity Share, which is lower than the Offer Price of ₹ [●] per Equity Share... Mr. Kulbhushan Parashar, who is a director of Corporate CapitalVentures Private Limited, the BRLM to the Offer, is a unitholder in CCV Emerging Opportunities Fund–I
We have applied for registration of our company logo and certain product names under Class 9, 42 and 45 of the Trade Marks Act, 1999... these applications are pending, and we do not legally own the registered trademarks. Consequently, we do not presently enjoy the statutory protections that are available to registered trademark owners under Indian law.
Our Directors and KMP i.e. Mr. Neeraj Bakulesh Jhaveri – WTD, Mr. Tulsidas Hinduja Ashok Kumar– COO designated as KMP, Ms. Krithika Selvakumar- CS... are unable to provide us their respective experience certificates therefore their experience has been shown as per Affidavit provided to us
DPT-3 AC3891827 17/06/2026 30/06/2025 - 17/06/2026 352... The filing was missed due to an inadvertent oversight. The ROC filing was completed as soon as the omission came to the Company notice.
the BRLM was issued a Show Cause Notice, in response to which the BRLM had filed a Settlement Application with SEBI and the same is still pending
revenue from Government entities constituted 55.22%, 78.91% and 86.98% of our total revenue, respectively... our dependence on a limited customer segment may expose us to risks of concentration and reduced bargaining power
as on date the company has not initiated any steps to secures the infringement of its in-House developed & Assembled Products i.e Forensic Evidence Search and Capture Smart Device (CSI Pro), Multispectral Tablet – Handheld System with Forensic Light Source to Detect Body Fluid, Digital Multipurpose Optical Comparator, Laboratory Fuming Chambers
Trade Receivables ... 3.50 / 823.58 / 1,316.32 ... Inventories ... 194.49 / 429.42 / 1,043.71
Finished stock fire insurance with sum insured of ₹470.00 lakhs from The New India Assurance Company Limited against inventory value of ₹1,043.71 lakhs, representing 45.03% coverage as at March 31, 2026
As at 31st March 2026, the Company has outstanding performance bank guarantees aggregating to Rs. 592.85 Lakhs issued in favour of customers towards due performance of contractual obligations.
Cash generated from Operations ... 1,044.04 / 562.98 / (198.70) ... Net Cash flow from/(used) in Operating Activities (A) ... 762.30
Sum of all Top 5 Customers 6,135.91 58.04%... Sum of all Top 10 Customers 8,207.23 77.64%
Top 1 Supplier 3,268.40 40.86%... Sum of all Top 5 Supplier 5,417.92 67.74%
Extracted from the issuer’s own prospectus and ranked by how specific and material each risk is to this company. Severity is our assessment of the disclosure, not a prediction — and nothing here is a recommendation to apply to this issue.
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 0 | 23 | 0 | ₹0.2 Cr |
| Promoters | 0 | 0 | 0 | — |
| Directors | 0 | 0 | 1 | ₹1.0 Cr |
| Subsidiaries | 0 | 0 | 0 | — |
| Group companies | 0 | 32 | 1 | ₹1.4 Cr |
Mrs. Manjula Kamath & Mr. T. Venkataraman v. Gee Gee Hire Purchase and Leasing Pvt. Ltd. (group company, 1st Defendant) and others — civil suit C.S. No. 130 of 2025 before Madras High Court for declaration of rights over undivided share of land in 'Gee Gee Crystal Residency', Besant Nagar, Chennai, valued at Rs.1,12,75,000; matter referred to Mediation Centre.
Dr. V. Mohan (Plaintiff) v. Dr. B. Mukesh, Independent Director of Company (Respondent) — civil suit C.S. 73 of 2025 before Madras High Court seeking permanent injunction and compensation of Rs.1,00,10,000 for alleged defamatory statements; injunction passed in O.A. 361 of 2025, currently stayed via OSA 382 of 2025; next hearing Aug 19, 2026.
All figures converted from stated Rs./Rs. in lakhs to Rs. crore (1 crore = 100 lakh = 10 million). Tax counts: Company = 5 Income Tax + 17 TDS + 1 GST = 23 cases (Rs.19.37 lakh); Group = 2 Income Tax + 26 TDS + 4 GST = 32 cases (Rs.31.92 lakh). KMPs/SMPs have 1 Income Tax case (Rs.0.51 lakh), not separately captured in the five buckets; Promoters/Directors have no disclosed tax proceedings in the table. No grand total is stated in the document; computed sum of stated bucket amounts = approx Rs.2.6414 crore. No criminal proceedings, regulatory/statutory actions, or SEBI disciplinary actions disclosed against any Relevant Party. Subsidiaries not separately disclosed (no litigation).. Outstanding means unresolved — a listed case is an exposure, not a verdict.
What the issuer and the exchanges published. Everything else on this tab is read out of these.
