Facilities management services provider Krystal Integrated Services has raised Rs 90.04 crore through its anchor book launched on March 13, a day before the public issue opening.
The Rs 300-crore initial public offering will be opening for subscription on March 14, while the closing date will be March 18.
In its filing to exchanges on Wednesday, the company said it has finalised the allocation of 12,59,265 equity shares to anchor investors for Rs 715 per equity share.
Total 10 institutional investors - 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 - participated in the anchor book.
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"Out of the total allocation of 12,59,265 equity shares to anchor investors, 3,07,720 shares were allocated to two mutual funds," Krystal said.
The Mumbai-based facilities management services is planning to raise Rs 300.13 crore through its IPO which is a mix of a fresh issue of Rs 175 crore worth of shares and an offer-for-sale (OFS) of 17.5 lakh equity shares worth Rs 125.13 crore at the upper price band.
The price band for the public issue has been fixed at Rs 680-715 per share.
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Krystal Integrated Services offers housekeeping, sanitation, landscaping, electrical and plumbing, pest control, payroll management, private security, and catering services will utilise Rs 100 crore out of the net fresh issue proceeds for its working capital requirements, and Rs 10 crore each for repaying debts and purchase of new machinery. Further, the remaining fresh issue money will be used for general corporate purposes.
The company has reserved half of its public issue size for qualified institutional investors, 35 percent for retail investors and the remaining 15 percent for non-institutional investors.
This will be the fifth public issue in the mainboard segment in the current month, after R K Swamy, JG Chemicals, Gopal Snacks and Popular Vehicles.
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