IPO Launch Date, Evaluation, Pricing, and Allocation Particulars of Krystal Integrated

Kryston Fusion Offering Particulars: The scheduled date for Kryston Fusion Offering is set, with the offering set to launch on March 14 and conclude on March 18. Kryston Fusion aims to raise approximately ₹300.13 crores through the offering, which includes a fresh issue of ₹175 crores and an offer for sale of up to 1,750,000 equity shares priced at ₹10 each. The allocation breakdown is as follows: 35% for retail investors, 50% for qualified institutional buyers (QIB), and 15% for high net worth individuals (HNI).

Kryston Fusion is a prominent provider of integrated facilities management services in India, specializing in sectors such as healthcare, education, public administration (government entities at the state level, municipal bodies, and other government offices), airports, railways, metro infrastructure, and retail (Source: F&S Report). They deliver a comprehensive suite of integrated facility management services across various sectors, making them one of the leading companies in India with a broad geographical presence and diverse customer base, servicing nearly all end-user segments as of March 31, 2023 (Source: F&S Report).

Their service portfolio encompasses a wide array of offerings, including soft services like housekeeping, sanitation, landscaping, and gardening, as well as hard services such as mechanical, electrical, and plumbing services. Additionally, they specialize in solid, liquid, and biomedical waste management, pest control, façade cleaning, and other ancillary services such as production support, warehouse management, and airport operations (including multi-level parking and traffic management). Furthermore, they provide staffing solutions, payroll management, private security, manned guarding services, and catering services to their clients.

Drawing from their extensive experience, Kryston Fusion has developed expertise in serving sectors like healthcare, education, airports, railways, and metro infrastructure, where they have a deep understanding of the unique requirements and challenges. As of March 31, 2023, they had established service relationships with 134 hospitals and medical colleges, 224 schools and colleges (excluding medical colleges), two airports, four railway stations, and 10 metro stations, in addition to offering catering services on select trains/train routes.

Krystal Integrated Services IPO Details

IPO Date March 14, 2024 to March 18, 2024
Listing Date March 21, 2024
Face Value ₹10 per share
Price Band ₹680 to ₹715 per share
Lot Size 20 Shares
Total Issue Size 4,197,552 shares (aggregating up to ₹300.13 Cr)
Fresh Issue 2,447,552 shares (aggregating up to ₹175.00 Cr)
Offer for Sale 1,750,000 shares of ₹10 (aggregating up to ₹125.13 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Share holding pre issue 11,524,400
Share holding post issue 13,971,952

Krystal Integrated Services IPO Timeline (Tentative Schedule)

IPO Open Date Thursday, March 14, 2024
IPO Close Date Monday, March 18, 2024
Basis of Allotment Tuesday, March 19, 2024
Initiation of Refunds Wednesday, March 20, 2024
Credit of Shares to Demat Wednesday, March 20, 2024
Listing Date Thursday, March 21, 2024
Cut-off time for UPI mandate confirmation 5 PM on March 18, 2024

Key Performance Indicator

KPI Values
ROE 11.71%
ROCE 16.97%
Debt/Equity 0.58
RoNW 11.21%
P/BV 4.49
PAT Margin (%) 4.56

Objects of the Issue (Krystal Integrated Services IPO Objectives)

The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects:
  1. Repayment/prepayment, in full or part, of certain borrowings availed of by the Company;
  2. Funding working capital requirements of the Company;
  3. Funding capital expenditure for the purchase of new machinery; and
  4. General corporate purposes

Krystal Integrated Services IPO Review (Apply)

The organization is highly esteemed as the preferred partner for numerous government projects due to its integrated facilities management services, with over 73% of its revenue stemming from Government Contracts. Notably, the company has demonstrated growth in both its top and bottom lines during the specified reporting periods. Considering the annualized earnings for FY24, the valuation of the offering seems comprehensive. Investors may consider allocating funds to this IPO for the potential medium to long-term benefits.

Krystal Integrated Services Limited Financial Information (Restated Standalone)

Krystal Integrated Services Limited’s revenue increased by 28.13% and profit after tax (PAT) rose by 46.89% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended 30 Sep 2023 31 Mar 2023 31 Mar 2022 31 Mar 2021
Assets 449.83 343.47 404.39 338.47
Revenue 455.67 710.97 554.86 474.31
Profit After Tax 20.56 38.41 26.15 16.65
Net Worth 183.68 163.41 163.86 136.08
Reserves and Surplus 170.09 155.27 156.04 129.76
Total Borrowing 103.36 47.99 72.55 65.31
Amount in ₹ Crore

Krystal Integrated Services Company Financial Report

₹ in Crores
Year Revenue Expense PAT
2021 ₹474.30 ₹464.89 ₹16.82
2022 ₹554.86 ₹527.76 ₹26.28
2023 ₹710.97 ₹671.94 ₹38.44
Sep 2023 ₹455.67 ₹430.16 ₹20.59

Company Promoters

  • Prasad Minesh Lad
  • Neeta Prasad Lad
  • Saily Prasad Lad
  • Shubham Prasad Lad
  • Krystal Family Holdings Private Limited