Quicktouch Technologies IPO envisages to raise Rs. 9.33 crore entirely as fresh offer of shares. The price is fixed at Rs. 61 per share and retail investors can apply with a minimum lot size of 2000 shares. The IPO will list in the NSE SME segment. Quicktouch Technologies is an information technology company having started in 2013 in Kolkata. It helps companies to leverage information technology with its industry-wide experience, deep technology expertise, and a comprehensive service portfolio.
IPO opens
Apr 18, 2023
IPO Closes
Apr 21, 2023
IPO Size (Rs.)
₹9.33 Cr
IPO Size (shares) (100% fresh isue)
1,530,000 shares
Face Value:
₹10
IPO Pricebin Rs :
61
Minimum Lot
2000
Listing At
NSE SME
NII Quota
50% of Net Issue
Retail Quota
50% of Net Issue
Lead Manager
KHAMBATTA SECURITIES, Share India Capital Services
Registrar
Skyline
Quicktouch Technologies Limited was incorporated on 02 July 2013.
QuickTouch is the one-stop IT Company for Business IT Solutions and Services, custom EduTech web Portal & EduTech ERP and Mobile App Development.
In Dec 2022, the company which earlier offred what was known as QuickTouch EIMS, QuickTouch and claimed it to be India’s No. 1 Educational Institute Management Software, launched QuickCampus.online with the vision of making it the EduTech Marketplace for all educational needs. The event was graced by CSC and Government Officials,
QuickCampus.online addresses all the functional areas of an Educational Institution and completes students’ life cycle in the Institution, starting from registrations, Admissions, Fee Collection from students, Exams and assignments, Inventory, Data analytics, Staff management, Parent Communication, Dashboards for management, Admin, Staff, and Parents, Learning Management, Parent Communication, and other tasks are all intertwined under this Institution’s ecosystem. ERP software assembles the pieces, so there is a logical order for studies in educational institutes.
The company also offer their services to industries such as Automotive, Banking, Financial Services & Insurance, Communications, Healthcare & Life Sciences, Manufacturing, and Industrial.
Quicktouch Technologies IPO: Financials
Particulars / Rs. Lacs
Oct-22
2022
2021
2020
Revenue (total income)
2812.66
2,552.73
728.12
265.92
Profit after Tax
430.37
221.15
52.78
22.64
Weighted average number of Shares
33,38,084
10,04,932
1,00,00,000
1,00,00,000
Share Capital
425
190
100
100
Reserve & Surplus
667.41
224.54
93.39
40.61
Net Worth
1092.41
414.54
193.39
140.61
Earnings per share
– Basic
12.89
22.01
0.53
0.23
– Diluted
12.89
22.01
0.53
0.23
Net Asset Value per Equity Share (in Rs.)
25.7
21.82
1.93
1.41
Total borrowings
– Long Term
43.44
50.25
114.03
85.56
– Short Term
10.46
8.57
18.59
–
Post issue Share Capital
578.00
FV
10
IPO price
61
EPS FY22
3.83
PE Fy22
15.94
EPS Fy23(ann)
14.89
PE Fy23 (ann)
4.10
Market cap in Lacs
3526
Market Cap/sales (ann)
0.63
Salient Points
The Company is dealing in two segments as far as IT sector is concerned, one of them is providing Software as a Service (SAAS), namely EIMS and the other segment includes consultancy with respect to the development/support of applications/solutions for its clients.
The company has launched “QuickCampus”, The Edutech Marketplace, on 24th December, 2022 which is said to be India’s first Edutech Marketplace. Its mobile app serves over 500+ happy customers and 100,000 monthly active user. It expects good revenue from this segment.
The company aims to utilize IPO proceeds for the following purposes.
Acquisition of similar businesses
To meet incremental working capital requirements and general corporate purposes
To fulfil issue-related expenses
The top 10 customers of Quicktouch Technologies have contributed 62.91% of revenue from the operation,
Company in last fiscal has also tapped USA makets though on a small scale
The company’s revenue and profits have grown at a scorching good pace.
As a risk, Mr. Gaurav Jindal, Promoter and Director of the Company was booked and arrested as accused under Section 69 of Central Goods and Services Tax (‘CGST Act, 2017) for violation of CGST Act 2017. It was alleged that Mr. Gaurav Jindal, while acting as one of the Director of M/s. GJA Industries Limited (now name changed to M/s. Whitecliff Industries Limited) and few other companies has violated the provisions of CGST Act 2017 to the tune of Rs. 885.00 Lakhs.
Social media reports indicate a low GMP of about Rs. 4-5 on the issue price.
Has availed loans from ICICI Bank. & HDFC Bank.
Till date there is good response to the IPO based on subscription numbers.
PE ratio is 16x (fy22 earnings) and 4.1x (fy23 annualized). Looks reasonable.
P/BV is 1.74 based on its post IPO NAV of Rs. 35.05 per share.
I intend to apply in Quicktouch Technologies IPO even as its overall quality like many other SME issues remains hazy due to limited information.
SME IPO are more volatile and I generally exit on the listing day, many times in pre open session.
There are two lead managers for this IPO, Share India Securities Limited and Khambatta Securities Limited.
Share India Securities Limited trrecently managed Maiden Forgings Limited and Exhicon Events Media Solutions Limited.
In case of Khambatta Securities Limited, last managed issue was quality foils, a small issue which did well.
Share India Securities Limited will act as the Market Maker
Please do your own diligence as SME IPOs are more volatile and risky than mainboard IPOs and need more funds.
Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management . Also Certified in some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Please do your own due diligence as stock market/MF investments have high degree of inherent risk.
