The Krystal Integrated Services IPO is aiming to raise ₹300.13 crore through its public offering. The IPO opened for subscription on March 14, and is set to close on March 18. With the finalisation of allotments expected by March 19, the company is gearing up for its listing on the BSE and NSE on March 21.
Krystal IPO Subscription Status
As per the latest data from the Bombay Stock Exchange (BSE), the Krystal Integrated Services IPO has witnessed a subscription of 45% times across all categories. The Qualified Institutional Buyers (QIBs) have shown a tepid response with a subscription of 0.33 times, while the Non-Institutional Investors (NIIs) have been more active, subscribing 0.58 times. Retail Individual Investors (RIIs) have also participated with a subscription rate of 0.45 times, reflecting a balanced interest from various investor segments.
Krystal IPO GMP
The Krystal IPO GMP is currently reported at ₹47. With a price band of 715, Krystal IPO’s estimated listing price is ₹762 a premium of around 6.57%. It is crucial to understand that GMP is merely an unofficial gauge of market sentiment and should not be the sole factor considered when assessing the potential performance of the company upon its stock market debut.
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Krystal IPO Details
The Krystal IPO comprises a fresh issue of 0.24 crore shares amounting to ₹175 crores and an offer for sale (OFS) of 0.18 crore shares totalling ₹125.13 crores. The price band for the IPO is set between ₹680 and ₹715 per share. The company has already raised ₹90.04 crores through its anchor book, with notable institutional investors showing confidence in the offering.
The proceeds from the IPO are earmarked for various purposes, including ₹100 crores for working capital requirements, ₹10 crores each for debt repayment and new machinery purchase, with the remaining funds allocated for general corporate purposes.
About Krystal Integrated Services
Established in December 2000, Krystal Integrated Services Limited is a prominent player in the facilities management sector. The company boasts a comprehensive service portfolio that includes housekeeping, sanitation, mechanical, electrical, and plumbing services, among others. With a client base that spans hospitals, schools, airports, and metro stations, Krystal Integrated Services has established itself as a trusted service provider in the industry.
The company also extends its expertise to staffing, payroll management, security services, and catering, demonstrating a versatile business model.
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