Krystal Integrated, a leading player in the integrated logistics and supply chain solutions sector, is set to launch its Initial Public Offering (IPO) for subscription starting Thursday, March 14, 2024. The subscription period will extend until Monday, March 18, providing investors with an opportunity to stake their claim in the company’s growth.
The IPO price band has been fixed in the range of Rs 680 to Rs 715 per equity share of the face value of Rs 10. Market analysts have pegged the current Grey Market Premium (GMP) for Krystal Integrated Services at Rs 70 in the unlisted market, indicating strong investor interest.
Investors keen on participating in the IPO can bid for a minimum of 20 shares and in multiples thereof. The IPO comprises a fresh issue of Rs 175 crore, alongside an offer-for-sale (OFS) of up to 1,750,000 equity shares of face value Rs 10 each by the selling shareholder, Krystal Family Holdings Private Limited.
The allocation to anchor investors for Krystal Integrated Services IPO is scheduled to take place today, March 13, 2024. Tentatively, the basis of allotment of shares will be finalized on Tuesday, March 19, with refunds set to be initiated on Wednesday, March 20. Shares will be credited to the demat accounts of allottees on the same day following the refund.
Krystal Integrated Services share price is expected to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Thursday, March 21, 2024.
Inga Ventures Pvt Ltd is acting as the IPO’s book running lead manager, while Link Intime India Private Ltd is the issue’s registrar.
The company intends to utilize the net proceeds from the new issue to finance various objectives, including covering working capital needs, funding capital expenditure for the purchase of new machinery, and general corporate purposes.
Additionally, it plans to utilize the funds for the repayment or prepayment, in full or in part, of certain borrowings taken out by the company.