The offer received bids for 3.96 crore shares as against 29.99 lakh shares on offer.
The initial public offer (IPO) of Krystal Integrated Services received 3,96,36,380 bids for shares as against 29,99,448 shares on offer. The issue was subscribed 13.21 times.The Non Institutional Investors (NIIs) category was subscribed 43.91 times. The Qualified Institutional Buyers (QIBs) category was subscribed 7.33 times. The Retail Individual Investors (RIIs) category was subscribed 3.32 times.
The issue opened for bidding on 14 March 2024 and it closed on 18 March 2024. The price band of the IPO was fixed at Rs 680 to 715 per share.
The offer comprised a 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%.
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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, fade 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.
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