Krystal Integrated Services Ltd, a facilities management services company, is gearing up for its initial public offering (IPO) with a price band set between Rs 680-715 per share. The IPO is scheduled to open for subscription on March 14, following the anchor bidding on March 13. The subscription window will close on March 18, with the basis of allotment set for March 19. Equity shares will be credited to dematerialized accounts on March 20, and the stock is expected to list on exchanges on March 21.
The IPO comprises a fresh issue of Rs 175 crore and an offer for sale of up to 1.75 million shares. At the upper band price, the total IPO size reaches Rs 300 crore, placing the total market capitalization of the firm at approximately Rs 1000 crore. Utilizing the fresh issue funds, the company plans to allocate Rs 10 crore towards debt repayment, another Rs 10 crore for new machinery procurement, and Rs 100 crore for fulfilling working capital requirements. The remainder of the fresh issue proceeds will be allocated for general corporate purposes.
Operating on a business-to-business (B2B) model, Krystal Integrated Services witnessed a notable 62 percent year-on-year growth in net profit, reaching Rs 33.8 crore for the financial year ended March FY23. Revenue from operations also experienced significant growth, rising by 28 percent to Rs 707.6 crore during the same period. Additionally, the company’s EBITDA increased by 31.1 percent to Rs 49.8 crore, with a margin expansion of 17 basis points at 7.04 percent year-on-year.
For the six months ended September FY24, Krystal reported a net profit of Rs 20.55 crore on revenue of Rs 451.6 crore. The company competes with listed entities such as Quess Corp, SIS, and Updater Services, and Inga Ventures serves as the sole book-running lead manager for the IPO.
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