SME IPO Filing: Icon Facilitators Takes Next Step

30 Sep 2024 , 01:06 PM

Icon Facilitators (IFL), North India’s top technical facilities management services provider, has submitted a draft red herring prospectus (DRHP) to the BSE SME for an IPO.

The company’s initial public offering includes a new issuance of 21,00,000 equity shares having a face value of Rs 10.

According to DRHP, IFL expects to use Rs 16 crore of the whole IPO proceeds for working capital requirements, including margin money, with the remainder used for general corporate reasons.

The company offers technical facility management services such as electrical system management operation, captive power management, STP/ETP and water treatment, HVAC management, building management system (BMS), fire and safety equipment, lift and escalator operations and maintenance, and annual maintenance contracts for E & M equipment.

The organisation has a significant presence in Haryana, Uttar Pradesh, and Delhi, with 72, 37, and 18 sites, respectively. It also has a presence in other regions, including Rajasthan (5 sites), Punjab, and Himachal Pradesh (1 site each). IFL has launched a new office in Bengaluru as part of its planned expansion into the country’s southern area, and the company expects strong commercial growth there.

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