Krystal Integrated Services, a leading provider of facilities management and security services, has witnessed overwhelming investor interest in its Initial Public Offering (IPO), which closed on Monday. The IPO, offering new shares worth up to Rs 175 crore along with an Offer for Sale (OFS) of 17,50,000 equity shares, saw robust demand from investors across all categories.
As per data from the National Stock Exchange (NSE), the IPO was subscribed 13.21 times, with the company receiving bids for 3,96,26,200 shares against the offer of 29,99,448 shares. The non-institutional investor segment saw a subscription of 43.90 times, while qualified institutional buyers (QIBs) subscribed 7.33 times. Retail individual investors also showed strong interest, subscribing 3.31 times.
Krystal Integrated had set a price range of Rs 680-715 per share for the IPO, with shares being sold at a premium of Rs 60 in the grey market, indicating potential listing at Rs 775 per share. This premium suggests significant investor confidence in the company’s prospects.
Investors were required to purchase at least one lot, consisting of 20 shares at Rs 715 per share, necessitating an investment of Rs 14,300. With the potential listing price at Rs 775 per share, investors could see a profit of Rs 1200 per lot, representing an approximate 8 per cent gain. However, experts caution against relying solely on the grey market premium (GMP) for investment decisions, emphasising the need for thorough analysis.
Established for over 23 years, Krystal Integrated Services offers a range of services including security, housekeeping and staffing solutions to hotels, industries, educational institutions, airports, and healthcare facilities. The company’s extensive experience and comprehensive service offerings have positioned it as a trusted partner in the facilities management industry.
Krystal Integrated Services’ successful IPO shows investor confidence in the company’s growth potential and underscores the strong demand for its services in various sectors. The company’s shares are set to be listed on both the BSE and NSE, offering investors an opportunity to participate in its future success. Investors eagerly await the listing to see how Krystal Integrated performs in the public markets, reflecting the broader sentiment towards the facilities management and security services sector.
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