Krystal Integrated Services shares make a decent D-St debut; stock lists at 11% premium

Shares of Krystal Integrated Services Ltd made a decent debut at Dalal Street on Monday, delivering double digit listings gains to the investors. The stock kicked-off its maiden trading session on BSE at Rs 795, a premium of 11.19 per cent over the issue price of Rs 715. Similarly, the stock was listed at a premium of 9.79 per cent at Rs 785 on NSE, over the given issue price.

Listing on Krystal Integrated Services can be concluded as the better-than-expect. Before its listing, shares of Krystal Integrated were trading at a grey market premium of Rs 57-60 each, indicating a potential listing gain of 8-9 percent for investors. However, during the bidding phase, the premium hovered around Rs 65-70 per share in the unofficial market.

Krystal Integrated Services' initial public offering (IPO) was launched for bidding between March 14 and March 18. Its shares were sold in the fixed price band of Rs 680-715 per share, with a lot size of 20 shares. The company garnered a little over Rs 300 crore through its IPO, which included a fresh share sale worth Rs 175 crore and an offer-for-sale (OFS) of up to 17,50,000 shares.

The overall subscription for the IPO came in at over 13.2 times the offered shares. Qualified institutional bidders (QIBs) subscribed 7.33 times, while non-institutional investors showed keen interest, subscribing 43.91 times. Retail investors also participated, bidding 3.32 times during the three-day offering period.

Established in December 2000, Mumbai-based Krystal Integrated Services specializes in facilities management services, offering a diverse portfolio including housekeeping, sanitation, landscaping, gardening, mechanical, electrical, and plumbing services, waste management, pest control, façade cleaning, among others.
 

Inga Ventures acts as the exclusive book running lead manager for the Krystal Integrated Services IPO, with Link Intime India serving as the registrar for the issue.