Krystal Integrated Services listing: Shares list at a premium of 9.7% to IPO price on NSE

Krystal Integrated Services shares debuted with moderate gains on Thursday. The stock opened at a premium of 9.79% at ₹785 against the issue price of ₹715 per share on the NSE. On the BSE, shares of the facilities management services provider listed at ₹795, up 11.1%.

At 10:23, Krystal Integrated Services was trading at ₹763.80, with an intra-day high of 793.80 on the NSE. Similarly, the stock was at 762.80 on the BSE.

The public issue, which had a price band of ₹680 to ₹715, was a mix of fresh issuance of 24,00,000 lakh equity shares worth ₹175 crore and an offer for sale (OFS) of 17.5 lakh shares amounting to ₹125.13 crore.

The company will use funds generated to meet its working capital requirements. It will also be used to repay debts, purchase new machinery, and for general corporate purposes.

As of September 30, 2023, Krystal Integrated Services has provided services to 135 hospitals, 228 schools and colleges, 1 airport, 4 railway stations, and 30 metro stations. Some of the company's customers include Maha Mumbai Metro Operation Corporation Limited and the Education Department of Brihanmumbai Municipal Corporation.

During the financial year 2022-23, the company's consolidated net profit grew by 47% to ₹38.4 crore, and revenue from operations increased by 28% to ₹707.6 crore compared to the previous year.