Issue dates – 14th March (Open) to 18th March (Close)
Bidding for anchor investors to be on 13th March
The shares will be listed on exchanges on 21st March
According to market sources, Krystal Integrated Services, a leading player in India’s integrated facilities management sector, is set to enter the capital market with an initial public offering (IPO) in March 2024. The offer comprises a fresh issue and offer for sale (OFS). The issue will open on 14th March 2024 and close for bidding on 18th March 2024. Bidding for anchor investors will be on 13th March & the shares will be listed on exchanges on 21st March.
Krystal offers a comprehensive suite of facility management services, making it one of the few companies in India with a wide geographic presence and customer base that caters to almost all end-user segments as of March 31, 2023.
Its services include soft services like housekeeping, sanitation, landscaping, and gardening, and hard services including mechanical, electrical, and plumbing services, solid, liquid, and biomedical waste management, pest control, facade cleaning, production support, warehouse management, and airport management services. The company also extends staffing solutions, payroll management, private security, manned guarding services, and catering services.
With its strengths lying in the provision of bespoke solutions for integrated facility management, competitive sourcing from Original Equipment Manufacturers (OEM), adoption of best-in-class products, and smart technology, Krystal Integrated Services is a pivotal solutions provider to the government sector. It boasts a significant track record in executing large contracts, qualifying it as one of the select companies in India for servicing extensive, multi-location government projects.
Krystal operations are located in 14 states and one union territory across India. The company’s strategic establishment of 21 branch offices nationwide contributes to its expansive geographic reach. Krystal reported revenue from operations of INR 471.3 cr in FY21, which increased to INR 707.6 cr in FY23. The profit after tax for these periods followed a similar upward trend and stood at INR 16.8 cr in FY21 showing a strong jump to Rs INR 38.4 cr in FY23.
