About Krystal Integrated Services Limited
Krystal Integrated Services Limited is launching its IPO. The IPO opens for subscription on March 14, 2024, and will close on 18th March.
What does Krystal Integrated Services do?
Incorporated in December 2000, the company specializes in facilities management across diverse sectors like healthcare, education, public administration, airports, railways, and retail. Their services include housekeeping, sanitation, landscaping, mechanical, electrical, and plumbing services, waste management, pest control, among others.
The company serves numerous hospitals, schools, airports, railway stations, and metro stations, indicating a broad presence across critical infrastructure sectors. Their ability to onboard new customers and maintain longstanding relationships highlights their reliability.
Geographically, the company operates across 16 states and two union territories in India, with 21 branch offices as of September 30, 2023. This widespread presence facilitates seamless service provision and ensures a greater focus on customer needs.
What is the issue size of Krystal Integrated Services Limited IPO?
The public offering consists of a book-built issue, with a fresh issue of shares amounting to ₹175.00 crores and an offer for sale of 0.18 crore shares.
Financials of Krystal Integrated Services Limited IPO (₹ crores)
| Financial Year | Total Assets | Total Revenue | Profit After Tax | EBITDA | EPS |
| March 31, 2021 | 338.47 | 474.30 | 16.82 | 30.10 | 14.45 |
| March 31, 2022 | 404.38 | 554.85 | 26.27 | 45.45 | 22.69 |
| March 31, 2023 | 343.46 | 710.96 | 38.44 | 54.50 | 33.33 |
Schedule/Timeline of Krystal Integrated Services Limited IPO
| Issue Period | 14th March to 18th March 2024 |
| Deadline for accepting UPI mandate | Until 5 PM on the issue closing day |
| Finalization of Allotment | March 19, 2024 |
| Initiation of Refunds | March 20, 2024 |
| Credit of Shares | March 20, 2024 |
| Date of Listing | March 21, 2024 |
| Mandate end date | April 02, 2024 |
| Anchor Investors Lock-In End Date (50% of the investment) | April 18, 2024 |
| Anchor Investors Lock-In End Date (Remaining investment) | June 17, 2024 |
Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.
Risk factors to consider:
Customer Concentration Risk: Revenue heavily relies on a limited number of customers, with the top five, top 10, and top 20 customers contributing 34.91%, 59.19%, 72.58%, and 85.86% respectively, to the company’s revenue in Fiscal 2023. The loss of these key customers could significantly impact the company’s financial performance.
Dependency on Government Contracts: A substantial portion of revenue is derived from government contracts obtained through competitive bidding. The inability to qualify for or successfully compete for tenders may impact revenue and customer relationships.
Manpower Dependency: The business is manpower intensive, and the inability to attract and retain skilled manpower may hinder growth and impact financial conditions. High attrition rates could affect customer satisfaction and financial performance.
How to apply to the Krystal Integrated Services Limited IPO?
You can apply for the Krystal Integrated Services Limited IPO using any supported UPI app by following two steps:
- Enter your bid on Kite
- Accept the UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
How to check the allotment status for the Krystal Integrated Services Limited IPO?
You can check the allotment status for the Krystal Integrated Services Limited IPO on the website of the Registrar and Transfer agent.