Krystal Integrated Services Limited

About Krystal Integrated Services Limited

Incorporated in 2000, Krystal Integrated Services Limited is one of India’s leading integrated facility management service providers. It offers services such as housekeeping, sanitation, gardening, mechanical, electrical and plumbing services, waste management, pest control and façade cleaning, production support, warehouse management and airport management services. It also provides staffing solutions, payroll management, guarding services and catering services.

Krystal Integrated Services operates a B2B model and provides these services to government organisations in the healthcare, education, airport, railways and metro infrastructure sectors. Some of its customers include the Maha Mumbai Metro Operation Corporation Limited and Education Department, Brihanmumbai Municipal Corporation.

As of 30 September 2023, the company has served 135 hospitals and medical colleges, 228 schools and other colleges, 1 airport, four railway stations and 30 metro stations, along with catering services on certain trains. The company has 21 branch offices to cater to its clients across 16 states and two union territories. 

Between FY21 and FY23, it saw a CAGR rise of over 14% in its revenue from operations and 32% in its profit. Moreover, India’s outsourced integrated facility management market is expected to grow at a CAGR of 14% between FY23 and FY28, which could benefit the company. 

And now, Krystal Integrated Services Limited is coming out with its initial public offer (IPO). The IPO will be an offer for sale as well as a fresh issue. The money raised from the fresh issue will be utilised to repay borrowings, fund the capital expenditure for the purchase of new machinery, fund working capital requirements, and for general corporate purposes. Its shares will be listed on the NSE and BSE.

Here are key details about the Krystal Integrated Services Limited IPO:

Financial snapshot

Here’s a quick look at Krystal Integrated Services Limited IPO’s strengths, weakness, opportunities and risks (SWOT analysis)

Strengths and opportunities

1. A comprehensive range of service offerings allows it to cater to diverse customer needs. As of Q2 FY24, it provided integrated services to 98 customers, staffing and payroll management services to 124 customers, guarding services to 96 customers, and catering services to 52 customers. 
2. Well-positioned to capture favourable business dynamics as it is among select companies in India to qualify and service large, multi-location government projects.
3. The company has a long standing relationship with customers, as 4 of its top 10 customers have been associated with it for over ten years. 
4. Wide geographic presence as it served customers in 2,160 locations in India as of 30 September 2023.
5. Operations are supported by a large pool of 40,100 on-site employees as of 31 January 2024. 
6. Track record of strong financial performance with EBITDA margins of 6%, 8%, 7% and 6% in FY21, FY22, FY23, and Q2 FY24, respectively. 

Risks and threats

1. Highly dependent on a limited number of customers as its largest customer contributed to 28% of revenue from operations in Q2 FY24.
2. 76% of its revenue from operations in Q2 FY24 came from government contracts obtained through a competitive bidding process. 
3. Operates a manpower intensive business and incurs significant expenses amounting to ₹361 crore in Q2 FY24. 
4. Has experienced negative cash flows from operating activities in Q2 FY24, from investing activities in FY22 to Q2 FY24, and financing activities in the last three years, which can affect its financial condition. 
5. Has trade receivables of ₹217 crore as of 30 September 2023, and customer default in payments can negatively impact its cash flow and liquidity.
6. Operates in a competitive industry with low barriers to entry, with as many as 20,000 companies operating in a similar business.

Krystal Integrated Services Limited IPO details

|Krystal Integrated Services Limited IPO date

According to the offer document filed by the company with the SEBI, the Krystal Integrated Services IPO’s opening date – in other words, the Krystal Integrated Services IPO launch date – will be 14th March 2024. The Krystal Integrated Services IPO closing date is 18th March 2024. After this, investors will be updated about the allotment status on 19th March 2024.

Investors, who have been allotted shares, can expect them to be credited to their demat account on 20th March 2024. The Krystal Integrated Services IPO listing date is 21st March 2024. The listing date is the date on which the shares of a company get listed on the bourses – NSE and BSE. 

|Krystal Integrated Services Limited IPO Price Band

The IPO is an offer for sale as well as a fresh issue. The Krystal Integrated Services IPO price band has been set between ₹680 and ₹751 per share. Interested investors can choose a price within this band to apply for the IPO. 

The Krystal Integrated Services IPO listing price will be determined on 21st March 2024. The listing price is the price at which a company’s shares debut on the stock exchanges.

|Krystal Integrated Services Limited IPO Lot size

The Krystal Integrated Services IPO details have been declared. The Krystal Integrated Services IPO lot size is set at 20 shares and an investor can apply for a minimum of 1 lot. Meanwhile, the Krystal Integrated Services IPO issue size is approx ₹300 crore. 

How to pre-apply for the Krystal Integrated Services Limited IPO?

You can pre-apply for the Krystal Integrated Services Limited IPO on Upstox. The pre-application for this IPO, which means pre-apply open date, usually begins a day before the IPO opens for subscription. 

Follow these steps to pre-apply for the IPO: 

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover tab, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, look for the ‘Krystal Integrated Services Limited IPO’ tab and click on it
5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
6. Confirm and click on ‘Pre-Apply’
7. Accept the mandate on your UPI app

How to apply for the Krystal Integrated Services Limited IPO?

If you are interested in this investment opportunity but unsure how to apply for the Krystal Integrated Services Limited IPO, here we are listing out the steps for you. 

When the public issue opens for subscription, one can follow this step-by-step guide on how to apply for the Krystal Integrated Services Limited IPO on Upstox: 

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover tab, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, look for the ‘Krystal Integrated Services Limited IPO’ tab and click on it
5. Now fill in all the required information, like ‘bid price’ and ‘lot size’
6. Confirm and click on ‘Apply’
7. Accept the mandate on your UPI app

How to check the Krystal Integrated Services LimitedIPO allotment status?

When the allotment process is completed, you can check the status of your application on the Upstox app. Share allotment is generally done around five to six days after an IPO closes. 

Here’s a step-by-step guide on how to check the Krystal Integrated Services Limited IPO allotment status:

1. Login to your Upstox account, using your six-digit PIN
2. After successfully logging in, click on ‘Discover’
3. On the Discover page, you will find the ‘Invest in IPO’ section
4. Under the Invest in IPO section, you will find the ‘View all’ option
5. Once you click on ‘View all’, you will be directed to the ‘IPO’ tab
6. In the ‘IPO’ tab, click on ‘My applications’ 
7. In ‘My applications’, under the History section, your Krystal Integrated Services Limited IPO allotment status will be mentioned

Check Allotment Status

Open a demat account with Upstox to apply for the Krystal Integrated Services Limited IPO

To apply for the Krystal Integrated Services Limited IPO, you need to mandatorily have a demat account. A demat account helps you hold the shares you buy in a dematerialised format. If you don’t have a demat account yet, you can open one with Upstox by visiting our website or by downloading the app.

Here is a step-by-step guide on how to open a demat account with Upstox:

1. Click here to visit the demat account opening page on the Upstox website. 
2. Enter your phone number and other essential details to begin opening a demat account.
3. Upload the scanned copies of your PAN, Aadhaar card, a cancelled cheque, and your bank statement as needed. 
4. Complete the e-verification using the OTP sent to your registered mobile number. 

This is all it takes to open a demat account with Upstox. Easy and quick, right? 

Open Demat Account

Upstox – trading app to apply for the Krystal Integrated Services Limited IPO

Applying for IPOs with Upstox is extremely easy. The user-friendly interface and top-notch security make Upstox one of the leading trading apps in India.

You can apply for the Krystal Integrated Services Limited IPO on Upstox, provided you have a demat account. As mentioned in the previous section, you can simply follow the steps to open a demat account with Upstox. The biggest advantage is that when you apply for an IPO using your Upstox account, the brokerage charges are zero.

In fact, courtesy of its robust features and minimal charges, Upstox is among the most preferred trading apps. Lakhs of Indians trust Upstox as it is a reliable trading platform that makes IPO applications easy.