With a 10% premium over the issue price of Rs 715, Krystal Integrated Services lists at Rs 785 on the National Stock Exchange. The business closed on March 18 after opening for retail bidding on March 14. Through a combination of a new issue and an offer for sale, the company made 4.2 million shares available at a valuation of Rs 300.13 crore.
The company’s stocks were trading at a premium of more than 8% over their issue price in the unofficial market, which provided investors with a preview of the stock’s performance when it made its secondary market debut.
A minimum of 20 shares, valued at Rs 14,300, were required of a retail participant to place a bid. Shares of the company were traded on the NSE and BSE.
Krystal Integrated Services’ IPO was led managed by Inga Ventures in terms of book running. Link Intime India was selected by the company to serve as the issue registrar.
The business raised money to finance working capital, pay off debt, purchase new equipment, and other general business needs. The net proceeds of the new issue will be used to finance the aforementioned projects, with the Rs 125.13 crore raised through the offer for sale going to shareholders who are selling their shares in the business.
Facilities management services are provided by the company to hospitals, schools, airports, train stations, and metro stations. A wide range of services are offered by it, including mechanical, waste management, gardening, sanitation, and housekeeping. It offers services for warehouse management, airport management, and production support as well.
Check allotment: last day of Krystal Integrated Services’ initial public offering (IPO); allocation is anticipated on March 19; here’s how to do so.
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