Stalwart People Services India files preliminary papers with SEBI to raise funds via IPO

Integrated security solutions provider Stalwart People Services India has filed a draft red herring prospectus (DRHP) with the capital market regulator, the Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering.

The initial share sale is a mix of fresh issuance of shares valued at ₹150 crore and an offer for sale (OFS) of 5,264,151 shares by promoters Caroline Mendez and Christopher Arvinth.

The net proceeds from the fresh issue will be used for funding working capital requirements, repayment of certain borrowings and general corporate purposes.

Bajaj Capital Securities is the issue's sole book-running lead manager, while KFin Technologies is the registrar.

Half of the issue will be reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs) and 35% for retail investors.

Stalwart People Services may also undertake a pre-IPO placement of up to ₹22.50 crore before filing the red herring prospectus (RHP). If completed, the amount raised through the fresh issue will be reduced accordingly.

Stalwart People Services India Ltd provides various security solutions, comprising both manned guarding and artificial intelligence (AI)-enabled video surveillance and analytics via its proprietary platform 'Intelisenz', facilities management services and staffing services.

It provides services with the staff strength of 25,070 personnel. It is a comprehensive service partner offering facilities management, security and staffing solutions under a single umbrella.

As of April 2026, it has serviced more than 1,099 clients across 2,752 locations across 23 states and three union territories and two Middle Eastern countries. It caters to a broad and diversified client base, including banking and financial services, aviation, healthcare, logistics, retail, education, IT/ITeS, quick commerce, PSUs and infrastructure sectors. Its clientele spans across large corporates, mid-sized enterprises, startups, and individual clients.

Some of its key clients include Yes Bank Ltd, Zepto, G Narayanamma Institute of Technology and Science, Century Panels and PVR Inox.

Shares of the company will be listed on the National Stock Exchange (NSE) and the BSE (formerly Bombay Stock Exchange).