Krystal Integrated Services shares list at 11% premium over IPO price

The issue received a decent response from the with an overall subscription of 12 times at close on strong interest from non-institutional investors.

Ahead of the opening, the company has raised Rs 90.04 crore from 10 anchor investors including BofA Securities, Aegis Investment Fund, PCC, Saint Capital Fund among others.

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The funds raised through the IPO will be utilized for of debt, working capital requirements, capital expenditure as well as for general corporate purposes.

Krystal Integrated Services is one of India’s leading integrated facilities management services companies with a focus on healthcare,
education, public administration (state government entities, municipal bodies and other government offices), airports, railways and metro infrastructure, and retail sectors (Source: F&S Report).

It provides a comprehensive range of integrated facility management service offerings across multiple sectors, and consequently are among select companies in India that have a wide geographic presence and customer base, catering to almost all end-user segments.

The company boasts a diverse customer base, a wide geographic presence, and a track record of strong financial performance. However, there are some key challenges which include reliance on a limited number of clients, particularly government contracts secured through bidding processes.

For FY23, the company's revenue from operations rose 28% year-on-year to Rs 708 crore. Net profit for the same period jumped 46% to Rs 38.4 crore.

Inga Ventures is the sole book running lead manager for the IPO, while Link Intime India is the registrar.

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