Read SecMark Consultancy IPO alongside company data with PROs and CONs of investing with Grey market price in Comments, Article Published in Initial public offering section on e akhabaar
(i) Incorporated in 2011, SecMark Consultancy offering services in the areas of compliance, operations, risk management, outsourcing, software development, and legal matters to financial market participants and others. The clients primarily include stock and commodity brokers, depository participants, stock exchanges, wealth managers, research analysts, insurance companies, insurance brokers, corporate agents, portfolio managers, investment advisors, NBFCs, banks, etc.
The company has developed applications and capabilities around automation of workflow process to manage compliance, audit, workforce management, regulatory reporting processes, e-learning / online examination, etc. The company has also developed an application for online examination of students for the National Institute of Securities Markets (education arm of SEBI) called the National financial literacy assessment test (NFLAT), which, as per the NFLAT website, is “Globally, the largest free financial literacy test for school students”. A recent development was the roll-out of OIMS (Order Instruction and Management system) software which simplifies the process of placing orders with stockbroker while maintaining an audit trail of instructions.
(ii) They offer services to about 125 clients in the Financial Year 2015 which has increased to about 200 in the Financial Year 2019-20. The company has a registered office is situated at Mumbai, and the team executes assignments all over India. They have local representatives at various locations like New Delhi, Ahmedabad, Indore, Jaipur, Bangalore, Chandigarh, and Raipur, etc.
(iii) Strength of the Company:
(a) Qualified and Experienced Team –
The Company is managed by professionals having varied experience in financial services. The team comprises qualified professionals (Chartered Accountants, Cost and Managemen Accountants, Company Secretaries, Advocates, CISAs, DISAs, Engineers, Technology Experts, Management Professionals, etc.) as well as experienced personnel.
(b) Diversified Portfolio of Services offered
Offering cloud-based software for Order Management, Developing, deploying, and maintaining an online examination portal for the National Centre for Financial Education for conducting financial literacy tests, Setting up Businesses of Broking, DP, PMS, etc. for leading banks and business houses, Forensic Audits, etc.
Objects of the SecMark Consultancy IPO:
The company is raising 15.04 Crores from the IPO and will be used for the following purpose.
1. To finance development and/or procurement of technology, applications, software, infrastructure etc.
including strategic acquisitions of Firms/Companies in the technology space to complement and enhance
our Company’s value proposition.
2. To expand and retain our leadership team that will lead the Company into the next phase of growth.
3. To acquire certain fixed assets.
4. Repayment of bank facilities.
5. General corporate expenses.
SecMark Consultancy IPO Details:
| Open Date: | Sep 18 2023 |
| Close Date: | Sep 23 2023 |
| Total Shares: | 1114000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Fixed Issue |
| Issue Size: | 15.04 Cr. |
| Lot Size: | 1000 Shares |
| Issue Price: | ₹ 135 Per Equity Share |
| Listing At: | BSE SME |
| Listing Date: | Oct 01 2023 |
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