Upcoming IPO: Icon Facilitators files draft papers with BSE to launch SME IPO

Upcoming IPO: Icon Facilitators Ltd has filed its draft red herring prospectus (DRHP) with BSE SME for an initial public offering (IPO).

The company based in Delhi mainly offers services for managing technical facilities, including operations for electrical systems, management of captive power, STP/ETP and water treatment, HVAC management, building management system (BMS), fire and safety equipment, and operations and maintenance of elevators and escalators, as well as annual maintenance contracts for E&M equipment.

The firm is mostly present in Haryana, Uttar Pradesh, and Delhi, with 72, 37, and 18 locations respectively. It is also present in other areas, such as Punjab, Himachal Pradesh, and Rajasthan, each having one site, five, and one, respectively. In an effort to strategically expand into the southern half of the nation, Icon Facilitators has launched a new office in Bengaluru. The company expects the area to see rapid economic growth.

The company provides services to well-known clients in the commercial and industrial sectors, including Vegas Mall, Omaxe Chandni Chowk, Gulshan One29, Eros Metro Mall, and East Delhi Mall. In the residential sector, it serves prestigious companies like Tata Housing and DLF Camellias. In addition, Bharat Mandapam, a famous structure meant to encourage global trade, is maintained by IFL. Corporates like Macquarie, Deloitte, HCL, CBRE, and JLL are among the companies it supports.

In the fiscal year 2024, Icon Facilitators achieved revenue of Rs. 49.84 crore from its operations, along with a profit (PAT) of ₹1.76 crore. This performance represents an increase from the previous fiscal year, where the company recorded revenue of ₹42.96 crore and a profit (PAT) of ₹1.92 crore in FY23.

Issue Details

The initial public offering of the company consists of 21,00,000 new equity shares, each having a face value of ₹10. Khambatta Securities Ltd has been appointed as the exclusive book running lead manager for the Issue, and Maashitla Securities Private Ltd will serve as the registrar.

As per the DRHP, Icon Facilitators plans to allocate ₹16 crore from the total IPO proceeds for meeting working capital needs, including margin money. The remaining funds will be utilised for general corporate purposes.

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