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

  • Krystal Integrated Services IPO GMP: Shares of the company are available at a premium of 65 in the grey market today, say market observers

Asit Manohar
Updated18 Mar 2024, 12:49 PM IST
Krystal Integrated Services IPO subscription status: In the first two days of bidding, the public issue has been booked 0.70 times.
Krystal Integrated Services IPO subscription status: In the first two days of bidding, the public issue has been booked 0.70 times.(Photo: Courtesy company website)

Krystal Integrated Services IPO: The three-day bidding for the initial public offering (IPO) of Krystal Integrated Services Limited is going to end today. In the first two days of bidding, Krystal Integrated Services IPO subscription status suggests that the book build issue has received a lackluster response from the primary market investors. Meanwhile, on the last date of Krystal Integrated Services IPO subscription, the grey market is signaling a positive debut of company shares on Dalal Street. According to stock market observers, shares of Krystal Integrated Services Limited are available at a premium of 65 in the grey market today.

Krystal Integrated Services IPO GMP today

As per the market observers, Krystal Integrated Services IPO GMP (grey market premium) today is 65, which is 39 higher than the GMP on the subscription opening date. This means the grey market has remained bullish on the book build issue despite the sell-off on Friday. If the trend continues, then there can be a sharp rise in the Krystal Vehicles Services IPO subscription status as bidding is going to end today.

Krystal Integrated Services IPO subscription status

By 12:45 PM on day three of bidding, the public issue has been booked 3.38 times whereas its retail portion has been booked 1.38 times. The NII portion has been subscribed 11.63 times while the QIB segment has been filled 0.61 times.

Krystal Integrated Services IPO review

On whether Krystal Integrated Services IPO is good or bad for an investor, Parth Shah, Research Analyst at StoxBox said, “With the outsourced integrated facility management market in India expected to grow at a CAGR of 14.6% and the public administration, industrial, commercial offices, healthcare, educational institutions, railways, and metro, and airport sectors expected to drive demand for the market, the company will derive benefits from such macroeconomic factor. Also, as the companies offering management services require an immense level of expertise, trust, and quality in the provision of service Krystal Integrated Services Ltd has a competitive advantage in the market. Filling the gap of such a growing demand, the company emerges as a one-stop solution to cater to the market in the coming years. Hence, remaining positive towards the issue, we recommend the market participants subscribe to the issue for a long-term horizon.”

Infographic: Courtesy mintgenie

Advising investors to invest after a sizeable correction in the secondary market, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, "Krystal Integrated Services Limited is one of the leading integrated facilities management services providers, incorporated in December 2000. The company offers staffing, payroll management, private security, manned guarding, and catering services. However, we expect the muted listing of Krystal Integrated Services IPO. We advise investors not to apply for the IPO. The equity markets being quite overvalued, we believe investors should not invest till the time there is a sizeable correction."

Giving an 'avoid' tag to the book build issue, VLA Ambala, a SEBI registered research analyst said, "The over-priced valuation and the negative sentiment of the broader market might hamper its listing. Notably, its net borrowings doubled in a year and grew 85% in the last three years, while PAT plunged from 38.41 to 20.56 in September 2023, raising a red flag for this IPO. Keeping all these in mind, I don’t see any major gains. So, those seeking listing gains can avoid this one."

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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First Published:18 Mar 2024, 12:49 PM IST
HomeMarketsIPOKrystal Integrated Services IPO: GMP, subscription status, review, other details. Apply or not as bidding ends today?

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