- Price Band fixed at ₹ 680 to ₹ 715 per Equity Share of face value of ₹ 10 each
- Bid /Offerl opens on Thursday, March 14, 2024 and closes on Monday, March 18, 2024
- Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter
NE BUSINESS BUREAU
AHMEDABAD, MARCH 13
Facilities management services provider Krystal Integrated Services has raised ₹90.04 crore through its anchor book launched on Wednesday, March 13, a day before the public issue opening.
The ₹300-crore initial public offering will be opening for subscription on Thursday, March 14, while the closing date will be Monday, March 18.
The company said it has finalised the allocation of 12,59,265 equity shares to anchor investors at the upper limit of ₹715 per equity share.
Total 10 institutional investors – BofA Securities Europe, ITI Flexi Cap Fund, Quant Business Cycle Fund, Aegis Investment Fund, Saint Capital Fund, Negen Undiscovered Value Fund, Coeus Global Opportunities Fund, NAV Capital and Zeal Global Opportunities Fund – participated in the anchor book.
“Out of the total allocation of 12,59,265 equity shares to anchor investors, 3,07,720 shares were allocated to two mutual funds,” Krystal said.
The Offer Size comprises fresh issue of Equity Shares aggregating up to ₹175 crore and Offer for Sale up to 1,750,000 Equity Shares
The Price Band of the Offer has been fixed at ₹680 to ₹715 Per Equity Share. Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter.
Krystal Integrated Services offers housekeeping, sanitation, landscaping, electrical and plumbing, pest control, payroll management, private security, and catering services. it will utilise ₹100 crore out of the net fresh issue proceeds for its working capital requirements, and ₹10 crore each for repaying debts and purchase of new machinery. Further, the remaining fresh issue money will be used for general corporate purposes.
The company has reserved half of its public issue size for qualified institutional investors, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.
The company served 134 hospitals, 224 schools, 2 airports, 4 railway stations, and 10 metro stations, as of March 31, 2023. It served 2,427 customer locations across 14 states and one union territory in India and has set up 21 branches, including Ahmedabad in Gujarat, to expand its geographical reach.
For the six months ended on March 31, 2023, Krystal Integrated reported a net profit of ₹20.56 crore with a revenue of ₹455.67 crore. The company clocked a net profit of ₹38.41 crore with a revenue of ₹710.97 crore for the year ending on March 31, 2023.
Shares of the company shall be listed at both BSE and NSE with March 21, Thursday as the tentative date of listing on the bourses.
Inga Ventures Private Limited is the book running lead manager, while Link Intime India is the registrar for the issue.
