Facilities management services company Krystal Integrated Services is set to launch its initial public offering on March 14.
The initial share sale will conclude on March 18 and the bidding for anchor investors will open for a day on March 13, according to a Red Herring Prospectus (RHP).
The Initial Public Offering (IPO) comprises a fresh issuance of equity shares worth Rs 175 crore and an offer-for-sale (OFS) component of 17.5 lakh shares by promoter Krystal Family Holdings Pvt Ltd.
Krystal Family Holdings owns 100 per cent stake in the company.
Proceeds from the fresh issue will be utilised for debt payment, supporting working capital requirements, fund capital expenditure for purchase of new machinery and for general corporate purposes.
Krystal is a leading integrated facilities management services company with a focus on healthcare, education, public administration, airports, railways and metro infrastructure and retail sectors.
Also, it provides staffing solutions and payroll management to customers, as well as private security and manned guarding services and catering services.
Inga Ventures Pvt Ltd is the sole book-running lead manager to the issue. Equity shares of the company will be listed on the BSE and NSE.
