Last day to subscribe Krystal Integrated Services IPO

18 Mar 2024 , 11:59 AM

By 11:48 am on day 3, the Krystal Integrated Services IPO had garnered bids for 69,58,020 shares out of the total 29,99,448 shares available for subscription. The retail portion has been oversubscribed 1.13 times, the NII portion has been oversubscribed 7.31 times, and the QIB portion has been subscribed 0.60 times.

On March 14, the second day of bidding, Mumbai-based facilities management services provider Krystal Integrated Services’ IPO saw a subscription rate of 70% on day 2. Click here to subscribe the IPO.

Krystal Integrated Services aims to raise Rs 300.13 crore through its maiden public issue, priced in the range of Rs 680-715 per share. The IPO comprises a fresh issuance of 24.47 lakh shares worth Rs 175 crore and an offer-for-sale (OFS) of 17.5 lakh shares worth Rs 125.13 crore by promoter Krystal Family Holdings.

Proceeds from the fresh issue will be allocated towards working capital requirements, debt repayment, purchase of machinery, and general corporate purposes, with Rs 100 crore earmarked for working capital needs. The company offers a range of services including electrical and plumbing, housekeeping, sanitation, pest control, and payroll management.

Krystal Integrated Services secured Rs 90.04 crore from 10 institutional investors. Inga Ventures serves as the book-running lead manager for the IPO, with Link Intime India appointed as the registrar.