IPO Centre     15-Mar-24
IPO News
Krystal Integrated Services IPO subscribed 70%
The offer received bids for 21 lakh shares as against 29.99 lakh shares on offer.
The initial public offer (IPO) of Krystal Integrated Services received 21,00,940 bids for shares as against 29,99,448 shares on offer, according to stock exchange data at 17:00 IST on Friday (15 March 2024). The issue was subscribed 0.70 times.

The issue opened for bidding on Thursday (14 March 2024) and it will close on Monday (18 March 2024). The price band of the IPO is fixed at Rs 680 to 715 per share. An investor can bid for a minimum of 20 equity shares and in multiples thereof.

The offer comprises fresh issue of equities aggregating to Rs 175 crore and offer for sale (OFS) of 17.5 lakh equity shares.

Of the net proceeds of fresh issue, the company will be using Rs 10 crore towards re- and pre-payment of certain borrowings, Rs 100 crore will be used to fund working capital requirements, Rs 10 crore to fund capital expenditure for purchase of new machinery, and the balance for general corporate purposes.

On the post-issue expanded equity, the holding of Krystal Family Holdings will stand reduced to 69.33%.

Ahead of the IPO, Krystal Integrated Services on Wednesday, 13 March 2024 raised Rs 90.03 crore from anchor investors. The board allotted 12.59 lakh shares at Rs 715 each to 10 anchor investors.

Krystal Integrated Services is a company that provides facilities management services. They offer a wide range of services such as housekeeping, sanitation, landscaping, gardening, mechanical, electrical and plumbing services, waste management, pest control, fa├žade cleaning, and other services such as production support, warehouse management, and airport management.

The company provided services to 135 hospitals and medical colleges, 228 schools and colleges (other than medical colleges), one airport, four railway stations, and 30 metro stations, along with catering services on certain trains and train routes end September 2023.

The firm reported a net profit of Rs 20.59 crore and sales of Rs 451.61 crore for the six months ended on 30 September 2023.

Previous News
  Krystal Integrated Services
 ( IPO Centre - New Issue Monitor 13-Mar-24   18:58 )
  Krystal Integrated Services to conduct board meeting
 ( Corporate News - 03-Apr-24   09:30 )
  Shares of Krystal Integrated Services get listed
 ( Corporate News - 21-Mar-24   09:07 )
  Krystal Integrated Services gains on debut
 ( Hot Pursuit - 21-Mar-24   10:27 )
  Krystal Integrated Services standalone net profit rises 62.08% in the March 2024 quarter
 ( Results - Announcements 28-May-24   07:38 )
  Krystal Integrated Services IPO subscribed 13.21 times
 ( IPO Centre - IPO News 18-Mar-24   17:38 )
  Krystal Integrated Services IPO subscribed 70%
 ( IPO Centre - IPO News 15-Mar-24   17:25 )
  Board of Krystal Integrated Services recommends final dividend
 ( Corporate News - 28-May-24   10:46 )
  Krystal Integrated Services IPO ends with decent subscription
 ( IPO Centre - IPO News 19-Mar-24   16:37 )
  Krystal Integrated Services declare Quarterly Result
 ( Corporate News - 24-May-24   12:53 )
  Krystal Integrated Services to hold board meeting
 ( Corporate News - 06-May-24   15:11 )
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