Krystal Integrated Services IPO Opens: Key Details and Subscription Status

14 Mar 2024 , 04:35 PM

Krystal Integrated Services IPO subscription opened today, March 14. The company is a leading provider of integrated facilities management services in India, focusing on various sectors including public administration, healthcare, education, airports, rail, and retail industries.

By March 31, 2023, Krystal Integrated Services had a significant client base, extensive geographical coverage, and served various end-user segments.

The company’s promoters include Prasad Minesh Lad, Neeta Prasad Lad, Saily Prasad Lad, Shubham Prasad Lad, and Krystal Family Holdings Private Limited.

Between March 31, 2022, and March 31, 2023, the company’s profit after tax (PAT) increased by 46.89% while revenue rose by 28.13%.

Key details about Krystal Integrated Services IPO include:

IPO dates: March 14 to March 18

Price band: ₹680 to ₹715 per equity share

Lot size: Minimum bid for 20 shares

Anchor investor allocation: Scheduled for Wednesday, March 13

At the time of writing, on day 1, The retail portion of the offer was subscribed at 0.31 times, while Non-Institutional Investors (NIIs) subscribed 0.16 times. The QIB category is subscribed 0.33 times.

IPO comprises a fresh issue of ₹175 crore and an offer-for-sale (OFS) by the selling shareholder, Krystal Family Holdings Private Limited.

The IPO proceeds will be utilized for various purposes including working capital, capital expenditure, and general corporate purposes.

Tentatively, the basis of allotment will be finalized on March 19, with refunds initiated on March 20. Shares are expected to be credited to allottees’ demat accounts on the same day, and listing on BSE and NSE is targeted for March 21.

Inga Ventures Pvt Ltd is the book running lead manager, and Link Intime India Private Ltd is the issue’s registrar.

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