Krystal Integrated Services Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹715
Per ShareLot Size
20 Shares
Minimum Investment
₹14,300
Issue Size
₹300.12 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Krystal Integrated Services Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
99.99%
Issue Type
Book Building
ISIN
INE0QN801017
About the Company
Krystal Integrated Services Ltd is one of India's leading integrated facilities management services companies with a focus on healthcare, education, public administration (state government entities, municipal bodies and other government offices), airports, railways and metro infrastructure, and retail sectors (Source: F&S Report). The Company provides a comprehensive range of integrated facility management service offerings across multiple sectors, and consequently are among select companies in India that has a wide geographic presence and customer base, catering to almost all end-user segments, as on March 31, 2023. Under its integrated facilities management offerings, the company provides soft services such as housekeeping, sanitation, landscaping and gardening, hard services such as mechanical, electrical and plumbing services, solid, liquid and biomedical waste management, pest control, façade cleaning and other services such as production support, warehouse management and airport management services (including multi-level parking and airport traffic management). The Company also provides private security and manned guarding services to its customers, as well as staffing solutions and payroll management and catering services. In Fiscals 2021, 2022 and 2023 and six months ended September 30, 2023, the company served 262, 277, 326 and 309 customers, at 1,962, 2,240, 2,427 and 2,160 customer locations in India, respectively.
Industry Overview
In Fiscal 2023, the Indian outsourced integrated facility management market was estimated to be Rs.980.8 billion. The outsourced integrated facility management market in India is expected to grow at a CAGR of 14.6% between Fiscals 2023-2028, with a potential market size of Rs.1,935.88 billion. Staffing and payroll management services market size in Fiscal 2023 is estimated at Rs.729 billion, with expected growth at CAGR of 20.1% from Fiscals 2023-2028. Private security and manned guarding services market in India is valued at Rs.1,500 billion in Fiscal 2023, expected to grow at CAGR of 20.0% from Fiscal 2023-2028.
Company History
Krystal Integrated Services Limited was incorporated as `Sea King Enterprises Private Limited' at Mumbai as a private limited company under the Companies Act, 1956 pursuant to a certificate of incorporation dated December 1, 2000 issued by the Registrar of Companies, Maharashtra at Mumbai ("RoC"). The name of the Company was changed to `Krystal Tradecom Private Limited' and a fresh certificate of incorporation dated February 6, 2001 was issued by the RoC. Subsequently, the Company diversified its activities and the name of the Company was changed from `Krystal Tradecom Private Limited' to `Krystal Integrated Services Private Limited', and a fresh certificate of incorporation dated May 19, 2009 was issued by the RoC. Pursuant to a resolution of our Board dated June 30, 2023 and a resolution of its shareholders dated July 4, 2023, the Company was converted into a public limited company under the Companies Act, and consequently, the name of the Company was changed to `Krystal Integrated Services Limited' and a fresh certificate of incorporation dated August 4, 2023 was issued by the RoC.
Products & Services
- Krystal Integrated Services Limited is one of India's leading integrated facilities management services companies with a focus on healthcare, education, public administration, airports, railways and metro infrastructure, and retail sectors.
Growth Strategy
- Retain, strengthen and grow customer base.
- Strengthen operations across sectors by capitalizing on growing industry opportunities and adopting a sector wise focus.
- Capitalise and build upon human resource strength, including recruiting and training capabilities.
- Focus on operational efficiency.
- Continue to improve its profits and operating margins.
Customer Base
Wholesalers and Retailers
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of 41,97,552 equity shares of face value of Rs. 10 each (the "Equity Shares") of Krystal Integrated Services Limited (The "Company" or the "Company" or the "Issuer") for cash at a price of Rs. 715 per equity share (including a premium of Rs. 705 per equity share) (the "Offer Price") aggregating to Rs. 300.12 crores comrising of a fresh issue of 2,447,552 equity shares aggregating to Rs. 175.00 crores (the "Fresh Issue") and an offer for sale of 1,750,000 equity shares aggregating to Rs 125.12 crores (the "Offered Shares") by Krystal Family Holdings Private Limited (the "Promoter Selling Shareholder") (the "Offer for Sale") (the "Offer for Sale", together with the fresh issue, the "Offer"). Anchor investor offer Price : Rs. 715 per equity share of face value of Rs. 10 each. The face value of the equity shares is Rs. 10 each and the offer price is 71.50 times the face value of the equity shares.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Comprehensive range of service offerings providing one-stop solution to customers.
- Focused business model which is well-positioned to capture favourable industry dynamics.
- Longstanding relationship with customers across diverse sectors, with recurring business.
- Wide geographic presence with large and efficient workforce, coupled with strong recruitment and training capabilities.
- Historical track-record of strong financial performance, with a scalable, agile business model, with revenue from operations amounting to Rs. 4,712.89 million, Rs. 5,526.76 million, Rs. 7,076.36 million and Rs. 4,516.08 million in Fiscals 2021, 2022 and 2023 and six months ended September 30, 2023, respectively, and total profit for the year (after tax) amounting to Rs. 168.24 million, Rs. 262.74 million, Rs. 384.44 million and Rs. 205.86 million in Fiscals 2021, 2022 and 2023 and six months ended September 30, 2023, respectively.
- Its revenue from operations is highly dependent upon a limited number of customers.
- A significant part of its revenue is generated from government contracts obtained through a competitive bidding process. There can be no assurance that its will qualify for, or that the company will successfully compete and win such tenders, or maintain these customer relationships.
- A significant portion of its revenues are derived from a few geographical regions and any adverse developments affecting such regions could have an adverse effect on its business, cash flows, results of operation and financial condition.
- Its business revenue from operations is concentrated in a few segments.
- Operational risks are inherent in its business as it includes rendering services in diverse environments depending on customer requirements. A failure to manage such risks including any errors, defects or disruption in its service or inability to meet expected or agreed service standards, could have an adverse impact on its business, cash flows, results of operations and financial condition.