Krystal Integrated Services made a robust debut on the exchanges, starting at Rs 795, marking an 11 percent premium over the issue price of Rs 715. This listing exceeded analysts’ predictions of a premium of around 4 percent.
The company’s Rs 300-crore public issue garnered strong investor interest, with an oversubscription of 13.21 times. Non-institutional investors led the subscription, buying 43.91 times their allotted shares. Qualified institutional buyers subscribed 7.33 times, while retail investors subscribed 3.32 times their quota.
Krystal Integrated Services offers comprehensive management solutions, including housekeeping, sanitation, catering, private security, manned guarding, payroll processing, staffing, electrical, and plumbing services.
The company’s focus on integrated facilities management has made it a preferred partner for government projects, contributing over 70 percent to its revenue.
The IPO comprised a mix of fresh shares worth Rs 175 crore and an offer-for-sale (OFS) of 17.5 lakh shares worth Rs 125.13 crore by promoter Krystal Family Holdings.
Proceeds from the IPO will primarily be utilized to meet working capital requirements and repay debt. Additionally, funds will be allocated for purchasing machinery and general corporate purposes.
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