Krystal IPO oversubscribed on the last day of the bidding process. Details here

On the second day, Krystal Integrated Services IPO was booked 70%, as per BSE data. The NII section garnered the highest subscription rate (1.15 times), followed by the retail category (58% subscription) and QIBs (57% subscription).

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Also Read: Krystal Integrated Services IPO: GMP, subscription status, review, other details. Apply or not as bidding ends today?

A highly volatile market was navigated by investors warily on the opening day of the Krystal Integrated Services IPO. The company tried its best to continue in spite of this. After opening on Thursday, March 14, the Krystal IPO closes today, Monday, March 18.

At the end of day 1, the overall Krystal IPO subscription status was 36%, as per BSE data. NII was booked at 43%, and retail investors was booked at 34%, and QIBs were subscribed to by 33% on the first day.

Krystal IPO reserved not more than 50% of equity shares for QIB, not less than 15% for NII, and not less than 35% for retail investors.

Also Read: Krystal Integrated Services IPO : Here are 10 key thing to know from the RHP before subscribing to the issue

Krystal Integrated IPO price band has been set in the range of ₹680 to ₹715 apiece of the face value of ₹10. The minimum number of shares that investors can bid on is 20, and they can bid more than that.

As per the company’s Red Herring Prospectus (RHP), which cited the F&S Report, Krystal Integrated Services is a prominent provider of integrated facilities management services in India, with a focus on public administration (state, local, and other government offices), healthcare, education, airports, rail and metro infrastructure, and retail industries.

Also Read: Krystal Integrated Services IPO: Issue subscribed 36% on day 1; check GMP, other key details

Krystal Integrated Services IPO subscription status

Krystal Integrated IPO has received bids for 1,01,51,660 shares against 29,99,448 shares on offer, at 12:45 IST, according to data from the BSE.

The retail investors’ portion received bids for 20,94,780 shares against 15,13,236 shares on offer for this segment.

The NIIs portion received bids for 75,45,120 shares against 6,48,530 on offer for this segment.

The QIBs portion have received 5,11,760 shares against 8,37,682 shares on offer for this segment.

Also Read: Krystal Integrated Services IPO opens today. GMP, subscription status to review. Buy or not?

Krystal Integrated Services IPO details

A fresh offering of ₹175 crore and an offer-for-sale (OFS) of up to 1,750,000 equity shares with a face value of ₹10 each makes up the issue. Krystal Family Holdings Private Limited, is the selling shareholder, of up to 1,750,000 equity shares with a face value of ₹10 apiece.

The company plans to utilise the net proceeds of the new issuance for the following objectives: funding capital expenditures for the purchase of new machinery, satisfying working capital requirements, and other corporate purposes. repayment of some of the debts that the company has taken out, either fully or partially.

Inga Ventures Pvt Ltd is the book running lead manager of the IPO, while Link Intime India Private Ltd is the issue’s registrar.

Krystal Integrated Services IPO GMP today

Krystal Integrated IPO GMP today is +73. This indicates Krystal Integrated Services share price were trading at a premium of ₹73 in the grey market, according to investorgain.com.

The expected listing price of Krystal Integrated Services shares was indicated at ₹788 apiece, which is 10.21% higher than the IPO price of ₹715, taking into account the upper end of the IPO price band and the existing premium on the grey market.

Grey market activity over the previous 20 sessions indicates that the IPO GMP is heading upward and that a robust listing is anticipated. Rs. 0 is the lowest GMP and Rs. 90 is the highest, as per investorgain.com.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Also Read: Krystal Integrated Services IPO to open tomorrow: GMP, issue details, 10 key things to know before investing

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 18 Mar 2024, 12:51 PM IST