Krystal Integrated Services makes decent debut, lists at 9.7% premium on NSE
Upstox
2 min read • Updated: March 21, 2024, 12:16 PM
Summary
Krystal Integrated Services IPO made a decent debut today. The stock opened at a premium of 9.79% at ₹785 against the issue price of ₹715 per share on the National Stock Exchange (NSE). The IPO received a strong response from investors, with an overall subscription of 13.4 times.
Krystal Integrated Services IPO made a decent debut today. The stock opened at a premium of 9.79% at ₹785 against the issue price of ₹715 per share on the National Stock Exchange (NSE).
However, upon listing Krystal Integrated Services shares saw profit booking and currently trades around ₹745.05 per share as of 12 pm.
The ₹300.13 crore IPO of the facilities management company was open for subscription between 14 March and 18 March. The IPO received a strong response from investors, with an overall subscription of 13.4 times.
The retail portion of the IPO was subscribed 3.4 times, while the qualified institutional buyers (QIBs) segment received 7.32 times subscriptions. The non-institutional investors’ (NIIs) portion was booked over 45 times.
The Krystal Integrated Services IPO allotment date is 19 March, and the shares are expected to be listed tomorrow on NSE and BSE.
Krystal Integrated Services IPO GMP
Krystal Integrated Services IPO GMP, or grey market premium, was ₹60 per share as on 20 March, as per market reports. This means Krystal Integrated Services shares are trading higher by ₹60 per share in the grey market compared to its issue price of ₹715 per share, indicating a decent listing for the company.
Grey market premium (GMP) is a rough indicator of how IPO stock could debut on the listing day. Although grey market trading is not approved by the stock exchanges and SEBI, many investors track GMP before IPO shares list on the exchanges. It is important to note that market sentiments and volatility on the listing day can impact the stock’s listing.
What will Krystal Integrated Services do with IPO proceeds?
Krystal Integrated Services plans to use net proceeds from the fresh issue of shares towards repayment/prepayment, in full or part, of certain borrowings availed of by the company.
A part of the money raised would also go towards funding working capital requirements and capital expenditure to purchase new machinery, with a portion to be kept aside for general corporate purposes.
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