Krystal Integrated Services' IPO subscribed 13 times on last day of offer

The Initial Public Offering (IPO) of facility management and security services provider Krystal Integrated Services got subscribed 13.21 times on the last day of bidding on Monday.

The initial share sale received bids for 3,96,26,200 shares against 29,99,448 shares on offer, as per NSE data.

The portion for non-institutional investors received 43.90 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 7.33 times. The Retail Individual Investors (RIIs) part fetched 3.31 times subscription.

The IPO had a fresh issue of up to Rs 175 crore and an offer for sale of up to 1,750,000 equity shares.

The initial share sale had a price range of Rs 680-715 a share.

Krystal Integrated Services last week 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 business comes from government agencies/departments, including some of the leading airports, the BMC headquarters, and many temples.

Inga Ventures is the manager to the offer. Equity shares of the company will be listed on the BSE and the NSE.