Krystal Integrated Services is gearing up to launch its initial public offering (IPO), with a price band set between ₹680 to ₹715 per equity share having a face value of ₹10. The subscription for the Krystal Integrated Services IPO is scheduled to begin on Thursday, March 14, and conclude on Monday, March 18. Allocation to anchor investors is slated for Wednesday, March 13.
The floor price stands at 68 times the face value of equity shares, while the cap price is set at 71.50 times the face value. At the upper end of the price band, the price to earnings ratio based on diluted EPS for the financial year 2023 is 21.45 times. The lot size for the Krystal Integrated Services IPO is 20 equity shares, with subsequent multiples of 20 shares.
The IPO has reserved up to 50% of shares for qualified institutional buyers (QIBs), a minimum of 15% for non-institutional investors (NIIs), and at least 35% for retail investors.
The basis of allotment for shares is anticipated to be finalized on Tuesday, March 19, with refunds expected to begin on Wednesday, March 20. Shares will be credited to the demat accounts of allottees on the same day as refunds. The listing of Krystal Integrated Services shares on BSE and NSE is projected for Thursday, March 21.
Krystal Integrated Services Ltd offers a wide array of integrated facilities management services, encompassing both hard and soft services. Hard services include mechanical, electrical, and plumbing work, waste management, pest control, and more. Soft services comprise housekeeping, sanitation, landscaping, and security services. Additionally, the company provides workforce solutions, payroll administration, culinary services, and airport management.
The company’s promoters include Prasad Minesh Lad, Neeta Prasad Lad, Saily Prasad Lad, Shubham Prasad Lad, and Krystal Family Holdings Private Limited.
Financial Highlights and IPO Details
Krystal Integrated Services witnessed a robust growth in profit after tax (PAT) of 46.89% and a revenue increase of 28.13% between March 31, 2022, and March 31, 2023. The IPO consists of a fresh issue of ₹175 crore and an offer-for-sale (OFS) of up to 1,750,000 equity shares by the selling shareholder, Krystal Family Holdings Private Limited.
The net proceeds from the new issue will be utilized for various purposes, including covering working capital requirements, funding capital expenditure for machinery purchase, and general corporate purposes. The book running lead manager for the IPO is Inga Ventures Pvt Ltd, while Link Intime India Private Ltd serves as the registrar.
Disclaimer: Investors are advised to consult certified experts before making any investment decisions.