Kwick Forensic Solutions IPO: ₹31.42 Cr for Working Capital
By ThePip Desk
Kwick Forensic Solutions launches a ₹31.42 crore IPO, primarily to bolster working capital and fund corporate needs. Explore key financials and objectives.
Kwick Forensic Solutions Limited has announced a fresh Initial Public Offering (IPO) valued at ₹31.42 crore. This issue includes no Offer for Sale (OFS) component.
Key Financials (FY2026)
- Revenue from Operations: ₹105.71 crore
- Net Profit: ₹13.51 crore
- Operating Cash Flows: Positive ₹7.62 crore
The Chennai-based company, established in 2005, specializes in comprehensive forensic science products and solutions. Its offerings span Forensic Science & Physical Evidence, Mobile CSI Vehicles, Cyber & Digital Forensics, and DNA Forensics.
The IPO primarily aims to secure funding for the company’s working capital needs. This includes managing trade receivables, inventory, and vendor advances, crucial for its tender-based business model.
IPO Objectives
- Fund working capital needs
- Allocate up to 15% or ₹10 crore (whichever is less) for general corporate purposes
Kwick Forensic Solutions serves both government and private sector clients across India, including police departments and forensic laboratories. The company saw its revenue from operations grow significantly from ₹30.18 crore in FY2024 to ₹105.71 crore in FY2026.
Key Risk Factors (FY2026)
- High customer concentration: Top 5 customers contributed 58.04% of revenue.
- Significant dependency on government entities: Accounted for 55.22% of revenue.
- Geographic concentration: Gujarat (29.39%) and Bihar (9.02%) generated substantial revenue.
- Working capital intensive business model: Required ₹3,587.14 lakhs as of March 31, 2026.
The company’s net profit also increased from ₹2.83 crore in FY2024 to ₹13.51 crore in FY2026. Operating cash flows improved from a negative ₹2.61 crore in FY2024 to a positive ₹7.62 crore in FY2026.
IPO Timeline
- Open Date: August 27, 2026
- Close Date: August 31, 2026
- Allotment Date: September 1, 2026
- Listing Date: September 3, 2026
Price band details for the IPO are yet to be announced. Kwick Forensic Solutions states it has no listed competitors offering comparable end-to-end solutions, which could impact direct peer valuation.