Krystal Integrated IPO: Mumbai-based company garners ₹90 crore via anchor book ahead of public issue

livemint.com:

₹90.04 crore from anchor investors, a day before its initial public offerings (IPO) opens for subscription. According to an exchange filing, Krystal Integrated Services allocated 12,59,265 shares at ₹715 per share to 10 anchor investors.

"The IPO Committee of the Company and the Promoter Selling Shareholder at their meetings held on Wednesday, March 13, 2024, in consultation with the Inga Ventures Private Limited (*Book Running Lead Manager") to the Offer, has finalized allocation of 12,59,265 Equity Shares, to Anchor Investors at Anchor Investor allocation price of ₹715 per Equity Share (including share premium of ₹705 per Equity Share)," the company said. Also read: Krystal Integrated Services IPO to open tomorrow: GMP, issue details, 10 key things to know before investing BofA Securities Europe, ITI Flexi Cap Fund, Quant Business Cycle Fund, Aegis Investment Fund, Saint Capital Fund, Negen Undiscovered Value Fund, Coeus Global Opportunities Fund, NAV Capital and Zeal Global Opportunities Fund were the participants in the anchor book round.

"Out of the total allocation of 12,59,265 equity shares to anchor investors, 3,07,720 shares were allocated to two mutual funds," the company further said in its exchange filing. The Mumbai-headquartered facilities management services company is strategizing to raise ₹300.13 crore via its Initial Public Offering (IPO), comprising a combination of a fresh issue of shares valued at ₹175 crore and an Offer for Sale (OFS) of 17.5 lakh equity shares worth ₹125.13 crore at the upper price band.

The public issue's price range has been set at ₹680-715 per share. Also read: Popular Vehicles IPO: Peer comparison to management - 7 key things to know from RHP Half of the company's public issue