Krystal Integrated Services share price makes a decent debut, stock opens with 9.8% premium at ₹785 on NSE

Krystal Integrated Services share price made a decent debut on the bourses today. On NSE, Krystal Integrated Services share price opened at ₹785 per share, 9.79% higher than the issue price of ₹715. On BSE, Krystal Integrated Services share price today opened at ₹795 apiece, up 11.19% than the issue price.

Market experts anticipated Krystal Integrated Services share price to open in the range of ₹775 to ₹785 apiece.

Also Read: Krystal Integrated Services IPO listing date today. GMP, experts signal positive debut of shares

On the third day of bidding, Krystal Integrated IPO subscription status was 13.21 times, as per BSE data. The issue was led by some overwhelming response from non-institutional investors (43.91 times). Retail portion was booked about 3.32 times, and Qualified Institutional Buyers (QIBs) fetched 7.33 times subscription number on the last date. Although the issue intially struggled but picked up pace eventually.

Krystal Integrated IPO reserved 50% of equity shares for QIB, 15% for NII, and 35% for retail investors.

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The issue opened for subscription Thursday, March 14 and ended on Monday, March 18. The IPO raised 90 crore from its anchor investors ahead of the issue's opening.

Krystal Integrated IPO's price band was set in the range of ₹680 to ₹715 apiece. The minimum number of shares that investors can bid on is 20, and they can bid more than that.

Also Read: Krystal Integrated Services IPO listing tomorrow: Here's what GMP, subscription status signal ahead of listing

Prasad Minesh Lad, Neeta Prasad Lad, Saily Prasad Lad, Shubham Prasad Lad, and Krystal Family Holdings Private Limited are the company's promoters.

Krystal Integrated Services offers facilities management services. They provide many different services, including waste management, pest control, façade cleaning, housekeeping, sanitation, gardening, landscaping, and mechanical, electrical, and plumbing services. They also provide production assistance, warehouse management, and airport management.

Also Read: Krystal Integrated Services IPO allotment finalised. Check status, GMP, other key details ahead of share listing

Krystal Integrated Services IPO details

Krystal Integrated IPO consists of a fresh issue worth ₹175 crore and an offer-for-sale (OFS) component that comprises of up to 1,750,000 equity shares of  face value of ₹10 each. Krystal Family Holdings Private Limited will be offloading up to 1,750,000 equity shares.

The company intends to use the net proceeds from the new issue to finance the following goals: covering working capital needs; funding capital expenditure for the purchase of new machinery; servicing partial or full repayment of certain loans taken out by the company; and general corporate purposes.

Inga Ventures Pvt Ltd is the book running lead manager of the IPO, while Link Intime India Private Ltd is the issue's registrar.

Krystal Integrated Services IPO GMP today

Krystal Integrated IPO GMP today is +59. This suggests that the Krystal Integrated Services share price was trading at a premium of ₹59 on the grey market, as per investorgain.com.

The estimated listing price for the Krystal Integrated Services IPO was ₹774 per share, which is 8.25% more than the ₹715 IPO price.

Grey market activity during the last 23 sessions suggests that a strong listing is expected and that the IPO GMP is rising. The lowest GMP is ₹0, and the greatest GMP is ₹90, according analyst data on investorgain.com.

'GMP or Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Krystal Integrated Services IPO allotment to be out today. Check status, GMP, other details

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.