IPO bonanza: SecMark Consultancy to hit D-Street, third firm to go public this month

SecMark Consultancy, a financial services company, will launch its initial public offering next week. It will be the third firm to launch an IPO in September after Happiest Minds and Route Mobile IPOs did so in the recent days.

The IPO will be on the SME Segment of BSE to raise an estimated Rs 15 crore. The public offer comprises a fresh issue of 11.14 lakh shares (27 percent equity). The price decided for the IPO is Rs 135 per share.

The issue will open on September 18 and close on September 23. The company is looking to raise money to develop software, infra, and strategic acquisition in technology space. It would also use the funds to develop a larger team, acquire assets, and for other issue expenses.

It has serviced more than 200 clients in the last financial year which includes exchanges, alternate investment funds, portfolio managers, stockbrokers, wealth managers, insurance companies, investment advisors, NBFCs and more.

Among projects, the firm has expanded online Compliance Management Software for intermediaries and grow an online examination portal for National Centre for Financial Education (NCFE).

It has also built, operated and transfer contracts for setting up intermediaries business for Canara Bank, Bank of Baroda, Corporation Bank, XTX Markets, and others.

The firm has developed Order Instruction Management System (OIMS) for order management of Intermediaries and also helped in operations, risk management and process reviews of leading entities like Aditya Birla Money, Edelweiss Broking, Paytm Money, etc.

For FY20, the company's PAT rose to Rs 116 lakh versus Rs 97 lakh in the previous year. The company's turnover was at Rs 575 lakh in FY20 as against Rs 390 lakh in FY19.