Krystal Integrated Services Limited shall open its Bid / Offer in relation to its Initial Public Offer of Equity Shares on Thursday, March 14, 2024. The Offer Size comprises of fresh issue of Equity Shares aggregating up to Rs 175 crore and Offer for Sale up to 1,750,000 Equity Shares.
The Price Band of the Offer has been fixed at Rs 680 to Rs 715 Per Equity Share. Bids can be made for a minimum of 20 Equity Shares and in multiples of 20 Equity Shares thereafter.
The Anchor Investor Offer shall be on Wednesday, March 13, 2024. The Bid/Offer will open on Thursday, March 14, 2024 for subscription and close on Monday, March 18, 2024.
The company proposes to utilize the Net Proceeds from the Fresh Issue towards funding – (i) Repayment/prepayment, in full or part, of certain borrowings availed of by the Company amounting to Rs 10 crore); (ii) Funding working capital requirements of the Company amounting to ₹ 1000 million (₹ 100 crore); (iii) Funding capital expenditure for purchase of new machinery amounting to Rs 10 crore) and (iv) balance amount towards General corporate purposes.
The Offer for Sale comprises of up to 1,750,000 Equity Shares by Krystal Family Holdings Private Limited. The proceeds of the Offer for Sale shall be received by the Promoter Selling Shareholder.
The Equity Shares offered through this Red Herring Prospectus are proposed to be listed on the Stock Exchanges. Our Company has received an ‘in-principle’ approval from each of the BSE Limited and National Stock Exchange of India Limited for the listing of the Equity Shares pursuant to letters dated December 12, 2023 and December 11, 2023, respectively. For the purposes of the Offer, BSE is the Designated Stock Exchange.
