Krystal Integrated Services, a facilities management services company, is set to launch its inaugural public issue on March 14, with the price range anticipated to be disclosed in the next couple of days.
This marks the second public offering to hit Dalal Street next week, following Popular Vehicles & Services.
The IPO consists of a fresh issuance of equity shares valued at Rs 175 crore, along with an offer-for-sale (OFS) of 17.5 lakh equity shares by promoter Krystal Family Holdings. The subscription window will close on March 14.
The anchor book, designated for up to 60 percent of qualified institutional buyers, will be unveiled on March 13, a day before the public issue commences.
Half of the IPO size has been allocated for qualified institutional buyers, 15 percent for non-institutional investors, and the remaining 35 percent for retail investors. The company plans to utilize Rs 10 crore from the fresh issue proceeds for debt repayment, another Rs 10 crore for the acquisition of new machinery, and Rs 100 crore for working capital needs. The remainder of the fresh issue funds will be allocated for general corporate purposes.
Krystal Integrated Services, headquartered in Mumbai, operates on a B2B model and recorded a 62 percent year-on-year growth in net profit at Rs 33.8 crore for the fiscal year ending March FY23. Revenue from operations also saw a 28 percent increase, reaching Rs 707.6 crore during the same period.
The company’s EBITDA for the fiscal year rose by 31.1 percent to Rs 49.8 crore, with a marginal expansion of 17 bps to 7.04 percent year-on-year.
Additionally, net profit for the six-month period ending September FY24 amounted to Rs 20.55 crore on revenue of Rs 451.6 crore, according to Krystal, which competes with listed entities such as Quess Corp, SIS, and Updater Services. Inga Ventures serves as the sole book running lead manager for the issue.
