Krystal Integrated Services Limited IPO Hits 0.37x on Day 1

On Day 1 of the bidding process, Thursday, March 14, 2024, the Initial Public Offer (IPO) of Krystal Integrated Services Limited was subscribed 0.37x. The retail portion was subscribed 0.36x, while 0.33x in Qualified Institutional Buyers (QIB) and 0.45x in the Non-Institutional Investors (NII) category.

Krystal Integrated Services Limited IPO opened for subscription on Thursday, March 14, 2024, and will close on Monday, March 18, 2024.

Krystal Integrated Services IPO GMP

On March 14, 2024, the shares of Krystal Integrated Services were commanding a premium of ₹37 in the grey or unlisted market.

About Krystal Integrated Services IPO

The price band of Krystal Integrated Services IPO has been fixed in the range of ₹680 to ₹715 per equity share. The face value is ₹10 per share. The lot size is 20 equity shares. The IPO comprises a fresh issue of 24,47,552 shares and an Offer For Sale (OFS) of 17,50,000 shares of ₹10, aggregating up to ₹300.13 crore.

Krystal Integrated Services IPO offers 41,97,551 shares. 8,39,510 (20.00%) to QIB, 6,29,633 (15%) to NII, 14,69,143 (35%) to RII and 12,59,265 (30.00%) to Anchor investors. 73,457 RIIs will receive a minimum of 20 shares, and 749 (sNII) and 1,499 (bNII) will receive a minimum of 280 shares. (in the case of oversubscription)

The objectives of the IPO are to repay/prepay, in full or part, certain borrowings availed by the company, to fund working capital requirements and capital expenditure for the purchase of new machinery, and for general corporate purposes.

The company’s IPO committee, at its meeting held on March 13, 2024, has finalised the allocation of 12,59,265 equity shares to Anchor Investors at an Anchor Investor allocation price of ₹715 per share.

About Krystal Integrated Services Ltd

Krystal Integrated Services is one of the leading integrated facilities management services companies in India. The company offers a wide range of services, including housekeeping, landscaping, gardening, sanitation, mechanical services, electrical and plumbing

services, pest control, façade cleaning, warehouse management, airport management services and more. They also offer staffing and payroll management solutions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.