Krystal Integrated Services IPO subscription opens: Check offer size, price and key dates

Krystal Integrated Services IPO subscription opened on Thursday, March 14. The initial public offer was booked 10% within the first hour of the launch of subscription for public investors.

As of 12:30 pm, the Krystal Integrated Services IPO is subscribed 20%. The public issue received bids for 6.15 lakh shares compared to 29.99 lakh shares on offer, till 12:30 pm on Thursday, according to NSE data.

The Krystal Integrated Services IPO subscription will close on** Monday, March 18**.

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The ₹300-crore public offer is a mix of fresh issue of 24 lakh shares worth ₹175 crore and OFS (offer-for-sale) of 18 lakh shares amounting to ₹125.13 crore.

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 at least 15% of the net issue for non-institutional investors.

Krystal Integrated Services IPO price band and issue lot size

The company has set the price band for the IPO at ₹680 to ₹715 per share. The minimum lot size for retail investors is 20 shares, aggregating to an application amount of ₹14,300. The minimum lot size for investment for small non-institutional investors (sNIIs) is 14 lots or 280 shares, amounting to ₹2,00,200. For big non-institutional investors (bNIIs), Krystal Integrated Services has fixed the minimum lot size at 70 lots or 1,400 shares, amounting to ₹10,01,000.

Krystal Integrated Services IPO shares allotment date

The basis of allotment for the Krystal Integrated Services IPO is expected to be finalised on Tuesday, March 19. Non-allottees of shares will start getting their refunds from the next day, March 20. Shares will be credited to the demat accounts of successful bidders the same day.

Krystal Integrated Services shares are expected to be listed on BSE and NSE on Thursday, March 21.

Krystal Integrated Services 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. These promoters together hold 99.99% in 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. The funds will also 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.

About Krystal Integrated Services Limited

Incorporated in 2000, Krystal Integrated Services specializes in facility management services. Its offerings include services such as housekeeping, sanitation, landscaping, gardening, mechanical, electrical, plumbing services, waste management, pest control, facade cleaning, production support, etc. The company also provides warehouse management and airport management services.

Krystal Integrated Services also offers integrated staffing, payroll management, private security, manned guarding and catering services.

As of March 31, 2023, the company served 134 hospitals, 224 schools, two airports, four railway stations and ten metro stations and also provided catering services on some trains. The company expanded its clientele over the years, serving 262 clients in 2021, 277 in 2022, and 326 in 2023, reflecting the growing demand for its services.

As of March 31, 2023, the company provides its service to 2,427 customer locations across 14 states and one union territory in India. To further expand its reach, Krystal Integrated Services Limited had set up 21 branches by March 31, 2023.

Krystal Integrated Services Limited's revenue jumped 28.13% and profit-after-tax (PAT) by 46.89% for the financial year ended March 31, 2023.

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