Shares of Krystal Integrated Services were commanding a grey market premium of Rs 57-60 apiece, suggesting a listing pop of 8-9 per cent for the investors.
Shares of Krystal Integrated Services are set to make their Dalal Street debut on Thursday and the diversified services provider may list with a mild premium, if one goes by the grey market premium (GMP) signals. However, the volatile sentiments of Dalal Street and series of muted listings may weigh on Krystal’s debut.
Ahead of its listing, shares of Krystal Integrated Services were commanding a grey market premium of Rs 57-60 apiece, suggesting a listing pop of 8-9 per cent for the investors. However, the company’s premium in the unofficial market was around Rs 65-70, when the issue was open for bidding.
The IPO of Krystal Integrated Services offered its shares in the fixed price band of Rs 680-715 per share with a lot size of 20 shares. The IPO of the Mumbai-based firm was open between March 14-18. The company raised a little more than Rs 300 crore via its primary offering, which included a fresh share sale of Rs 175 crore and an offer-for-sale (OFS) of up to 17,50,000 equity shares.
The issue was overall subscribed a little more than 13.2 times. The quota for qualified institutional bidders (QIBs) was booked 7.33 times The quota for non-institutional investors was subscribed 43.91 times. The portions reserved for retail investors saw bidding for 3.32 times during the three-day bidding process.
Krystal Integrated Services, incorporated in December 2000, provides facilities management services. They offer a wide range of services such as housekeeping, sanitation, landscaping, gardening, mechanical, electrical and plumbing services, waste management, pest control, façade cleaning, and other services.
Inga Ventures is the sole book running lead manager of the Krystal Integrated Services IPO, while Link Intime India is the registrar for the issue.
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