Krystal Integrated Services Limited Initial Public Offering Opens On Thursday, March 14, 2024

 

Mumbai; ‘Krystal Integrated Services Limited” (KISL) is set to launch its Initial Public Offering (IPO) of Equity Shares on Thursday, March 14, 2024.

The Offer Size comprises a fresh issue of Equity Shares totaling up to ₹1,750 million (₹175 crore) and an Offer for Sale of up to 1,750,000 Equity Shares. The Price Band for the Offer has been set at ₹680 to ₹715 per Equity Share, with bids accepted for a minimum of 20 Equity Shares and in multiples of 20 thereafter.

The Anchor Investor Offer will take place on Wednesday, March 13, 2024, followed by the opening of the Bid/Offer on Thursday, March 14, 2024. The Bid/Offer Period will close on Monday, March 18, 2024.

The proceeds from the Fresh issue will be allocated towards various purposes, including repayment/prepayment of certain borrowings, funding working capital requirements, capital expenditure for the purchase of new machinery, and general corporate purposes.

The Offer for Sale comprises up to 1,750,000 Equity Shares by Krystal Family Holdings Private Limited, with the proceeds going to the Promoter Selling Shareholders.

The Equity Shares offered are detailed in the Red Herring Prospectus dated March 4, 2024, filed with the Registrar of Companies, Maharashtra in Mumbai.

Inga Ventures Private Limited serves as the Book Running Lead Manager to the Issue, overseeing the IPO process. This offering represents a significant opportunity for investors to participate in the growth and prospects of Krystal Integrated Services Limited.