Krystal Integrated Services made its debut on the National Stock Exchange at Rs 785 per share, marking a substantial 10% premium over its issue price of Rs 715. The company’s retail bidding phase commenced on March 14 and concluded on March 18. During this period, Krystal Integrated Services offered 4.2 million shares valued at Rs 300.13 crore through a blend of a fresh issue and an offer for sale. This successful listing reflects investor confidence in the company’s prospects, indicating a promising start to its journey in the stock market.
In the informal market, the company’s shares were trading at a premium of more than 8% compared to its issue price, offering investors an indication of the stock’s potential performance upon its entry into the secondary market.
Shares of Krystal Integrated Services IPO
A retail participant has to bid for a minimum of 20 shares worth Rs 14,300. The company’s shares were listed on both the NSE and BSE.
Inga Ventures served as the book-running lead manager for Krystal Integrated Services’ IPO, while the company selected Link Intime India to act as the registrar for the offering.
The company secured funds to address various needs such as paying off borrowings, supporting working capital requirements, acquiring new machinery, and fulfilling other general corporate objectives. The aforementioned purposes will be financed using the net proceeds from the fresh issue. Meanwhile, the amount raised through the offer for sale, totaling Rs 125.13 crore, will be allocated to shareholders divesting their stakes in the company.
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The company operates within the facilities management services sector, serving a diverse clientele including hospitals, schools, airports, railway stations, and metro stations. Its offerings encompass a comprehensive suite of services such as housekeeping, sanitation, gardening, waste management, mechanical support, and more. Additionally, the company extends its expertise to provide production support, warehouse management, and airport management services.
