Krystal Integrated Services Limited IPO Hits 0.72x on Day 2

On Day 2 of the bidding process, Friday, March 15, 2024, the Initial Public Offer (IPO) of Krystal Integrated Services Limited was subscribed 0.72x. The retail portion was subscribed 0.60x, while 0.57x in Qualified Institutional Buyers (QIB) and 1.19x 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 15, 2024, the shares of Krystal Integrated Services were commanding a premium of ₹30 in the grey or unlisted market.

Day Wise Subscription Details

About Krystal Integrated Services IPO

Krystal Integrated Services IPO’s price band has been fixed from ₹680 to ₹715 per equity share. The face value is ₹10 per share. The lot size is 20 equity shares, where the minimum investment is ₹14,300. The IPO comprises both 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.

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.
• For general corporate purposes.

On March 13, 2024, the IPO committee of the company held a meeting and finalised the allocation of 12,59,265 equity shares to Anchor Investors at an Anchor Investor allocation price of ₹715 per share.

Read: Krystal Integrated Services IPO Subscription – Day 1

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, such as housekeeping, landscaping, warehouse management, airport management services and more. They also offer staffing and payroll management solutions. As of March 31, 2023, the company’s revenue is ₹710.97 crore, which grew by ~28.13% from ₹554.86 crore on March 31, 2022. The Profit After Tax also saw a growth of ~47% from ₹26.15 crore on March 31, 2022, to ₹38.41 crore on March 31, 2023.

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.