The basis of allotment for the Krystal Integrated Services IPO will be finalized on Tuesday, March 19, 2024. Shares will be listed on BSE and NSE on March 21, 2024.
The Krystal Integrated Services’ initial public offer (IPO) will be launched on Thursday, March 14. The issue will close on Monday, March 18, 2024. The public offer will be a combination of a fresh issue of 24 lakh shares worth ₹175 crore and OFS (offer-for-sale) of 18 lakh shares of ₹125.13 crore, making it a book build issue of ₹300.13 crore.
Here’s everything you need to know about the Krystal Integrated Services IPO:
Krystal Integrated Services IPO Price Band and Lot Size:
The company has fixed the price band for the IPO at ₹680 to ₹715 per share. The minimum lot size to apply is 20 shares, requiring retail investors to invest a minimum amount of ₹14,300. For small non-institutional investors (sNIIs), the minimum lot size for investment has been fixed at 14 lots or 280 shares, amounting to ₹200,200. For big non-institutional investors (bNIIs), Krystal Integrated Services has set the minimum lot size at 70 lots or 1,400 shares, amounting to ₹1,001,000.
Krystal Integrated Services IPO Allotment and Listing:
The basis of allotment for the Krystal Integrated Services IPO will be finalized on Tuesday, March 19, 2024. Non-allottees of shares will start receiving their refunds from the next day, March 20. Shares will be credited to the Demat accounts of successful bidders the same day. The IPO will be listed on the BSE and NSE with the tentative listing date fixed as Thursday, March 21, 2024.
Krystal Integrated Services IPO Reservation
Not more than 50% of the net issue has been reserved for qualified institutional buyers (QIBs), and not less than 35% of the net issue for retail buyers. The company has set aside not less than 15% of the net issue for non-institutional investors.
Krystal Integrated Services IPO Promoters’ Holding
Prasad Minesh Lad, Neeta Prasad Lad, Sally Prasad Lad, Shubham Prasad Lad, and Krystal Family Holdings Pvt Ltd are the company’s promoters. Together, these promoters hold 99.99% of the company.
Krystal Integrated Services IPO Objective
The IPO proceeds will be used to repay or pre-pay certain borrowings of the company and meet working capital requirements. Additionally, the funds will be used for capital expenditure to purchase new machinery. The company also intends to utilize the IPO money for general corporate purposes.
Krystal Integrated Services IPO Registrar
The company has appointed Inga Ventures as the book-running lead manager for the IPO and Link Intime India Private Ltd as the registrar.
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About Krystal Integrated Services Limited
Incorporated in 2000, Krystal Integrated Services specializes in facility management services, offering a wide range of solutions such as housekeeping, sanitation, landscaping, gardening, mechanical, electrical, plumbing services, waste management, pest control, facade cleaning, and production support. Additionally, the company provides services in warehouse management and airport management. Krystal Integrated Services also offers integrated staffing, payroll management, private security, manned guarding, and catering services.
As of March 31, 2023, the company served a diverse client base, including 134 hospitals, 224 schools, 2 airports, 4 railway stations, and 10 metro stations, with some catering services provided on trains. The company has steadily expanded its clientele, serving 262 clients in 2021, 277 in 2022, and 326 in 2023, indicative of the growing demand for its services.
Operating across 2,427 customer locations spread across 14 states and one union territory in India as of March 31, 2023, Krystal Integrated Services Limited has established 21 branches to further expand its reach.
Financially, Krystal Integrated Services Limited witnessed significant growth, with revenue surging by 28.13% and profit-after-tax (PAT) increasing by 46.89% for the financial year ended March 31, 2023.
