Krystal Integrated Services' IPO subscribed 36% on first day of offer
The Initial Public Offer (IPO) of facility management and security services provider Krystal Integrated Services got subscribed 36 per cent on the first day of bidding on Thursday. The initial share sale received bids for 10,78,460 shares against 29,99,448 shares on offer, according to data available with the NSE. The category for non-institutional investors received 43 per cent subscription while the portion for Retail Individual Investors (RIIs) got subscribed 34 per cent. The Qualified Institutional Buyers (QIBs) part received 33 per cent subscription. The IPO has a fresh issue of up to Rs 175 crore and an offer-for-sale component of up to 17,50,000 equity shares. The price range for the offer is Rs 680-715 a share. Krystal Integrated Services has mopped up over Rs 90 crore from anchor investors. The company began operations in 2000 as a private security staff provider and from 2005 entered the facility management segment. Around 70 per cent of its facility management busines
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