Clear Secured Services IPO listing: Shares debut at a 10% discount, fall further to hit lower circuit

Clear Secured Services IPO listing: Shares of Clear Secured Services made a weak debut on NSE SME on Monday, December 8. The SME stock opened at ₹119, down 9.85% from the issue price of ₹132 and fell further to hit a 5% lower circuit of ₹113.05. Clear Secured Services' listing failed to meet grey market expectations as the grey market premium (GMP) of the stock was ₹3 on Monday, December 8, morning. The ₹3 GMP indicated the stock could list at ₹135 on the NSE SME.

Clear Secured Services specialises in integrated facility management (IFM). It offers both soft services, such as housekeeping, security, payment management, and staffing services, as well as hard services, including electromechanical services, repair and maintenance, facade cleaning, and pest control services.

The company's profit after tax (PAT) for FY23 was 6.85 crore, which rose to ₹12.08 crore in FY24 but slipped to ₹9.92 crore in FY25. In FY26, for the period ended 31 August 2025, its PAT was ₹13.90 crore.

Revenue from operations for FY23, FY24, and FY25 was ₹309.04 crore, ₹347.54 crore, and ₹476.18 crore, respectively. As of August 31 in FY26, its revenue was ₹228.45 crore.

Clear Secured Services IPO details

The SME IPO was a fresh issue of 64,85,000 shares to raise ₹85.60 crore. With a price band of ₹125 to ₹132 per equity share, the IPO opened for public subscription on Monday, December 1, and closed on Wednesday, December 3. Share allotment was finalised on Thursday, December 4.

Horizon Management Private Limited was the book-running lead manager, and Bigshare Services Private Limited was the registrar.

The issue saw an overall subscription of nearly 9 times, with the retail portion booked nearly 7 times and the segment reserved for NIIs subscribed to 12.5 times.

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