Krystal Integrated Services Files IPO Papers With Sebi

Krystal Integrated Services has filed preliminary papers with Sebi to mobilise funds through an initial public offering (IPO).

The IPO comprises fresh issuance of equity shares worth Rs 175 crore and an offer-for-sale (OFS) of 17.5 lakh shares by promoter Krystal Family Holdings Pvt Ltd, according to the draft red herring prospectus (DRHP) uploaded on Sebi's website last week.

Krystal Family Holdings owns 100 per cent stake in the company.

Proceeds from the fresh issue will be utilised for debt payment, supporting working capital requirements, fund capital expenditure for purchase of new machinery and for general corporate purposes.

Krystal is a leading integrated facilities management services company with a focus on healthcare, education, public administration, airports, railways and metro infrastructure, and retail sectors.

Also, it provides staffing solutions and payroll management to customers, as well as private security and manned guarding services and catering services.

Inga Ventures Pvt Ltd is the sole book running lead manager to the issue. Equity shares of the company will be listed on the BSE and NSE.axz