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Technical facilities management services provider Icon Facilitators on Thursday announced its plan to launch the initial public offer to raise money for expanding operations and is targeting Rs 100 crore revenue by FY27.
Khambatta Securities Limited has been appointed as the book-running lead manager to oversee the IPO process, a company statement said.
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According to the statement, the company aims to achieve a remarkable milestone of Rs 100 crore in revenue by the financial year 2027. It reported Rs 49.84 crore revenue from operations in FY24 against Rs 42.96 crore in FY23.
To support this ambitious growth trajectory, it stated that Icon Facilitators Ltd (IFL) is actively exploring an initial public offering (IPO).
The IPO will provide the company with the necessary capital to expand its client base, strengthen its geographic presence across India, and invest in cutting-edge technologies to enhance its service offerings, it said.
IFL Managing Director Dinesh Makhija said, "We are planning to continue to expand the scope and range of current services to our existing and new clients by continuing to build our expertise and extend our capabilities".
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In order to achieve the anticipated growth, we are planning to raise funds through an IPO, and we are confident of achieving Rs 100 crore in revenues by FY27, he stated.
The IFL provides technical facilities management services, such as electrical system management operation, captive power management, STP/ETP and water treatment, HVAC management, building management system (BMS), fire and safety equipment, elevators escalators operations & maintenance and annual maintenance contract of E & M equipment.
The company is present in Haryana, Uttar Pradesh and Delhi, with 72, 37 and 18 sites, respectively. It is also present in other regions, including Rajasthan with 5 sites, and one site each in Punjab and Himachal Pradesh.
IFL has recently opened a new office in Bengaluru as part of its strategic expansion into the southern region and anticipates significant business growth in the region.
It primarily provides services to industrial, commercial, retail, and residential clients on the B2B model.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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