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Krystal Integrated IPO Subscription Oversubscribed on Last Day of Bidding Process

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The Krystal Integrated Services IPO subscription status has revealed strong interest on the last day of the bidding process, with overwhelming demand coming from retail and non-institutional investors (NII). The IPO has been oversubscribed at a rate of 13.21 times, according to data from BSE. The NII segment particularly stood out with a subscription rate of 43.91 times, while retail investors contributed with 3.32 times. Qualified Institutional Buyers (QIBs) were subscribed at 7.33 times.

As the Krystal Integrated IPO progressed, it was reported that 70% of the issue had been booked by the end of the second day of bidding. The NII category showed the highest subscription rate at 1.15 times, followed by retail investors at 58% and QIBs at 57%. The company managed to navigate through a highly volatile market to attract investors.

During the opening day, the Krystal IPO had an overall subscription status of 36%, based on BSE data. NII, retail investors, and QIBs were booked at rates of 43%, 34%, and 33% respectively on the first day.

The price band for the Krystal Integrated IPO was set between ₹680 to ₹715 per share of face value ₹10. The minimum bid lot was set at 20 shares to allow investors to bid above this level. As per the company’s Red Herring Prospectus (RHP) citing the F&S Report, Krystal Integrated Services holds a significant position in integrated facilities management services in various industries and public institutions.

The IPO has received bids for 13,21,000 shares against 29,99,448 shares on offer. Retail investors submitted bids for 50,18,060 shares, NII bids totaled 2,84,75,760 shares, and QIBs registered bids for 61,42,560 shares. The fresh offering includes ₹175 crore and an offer-for-sale (OFS) of up to 1,750,000 equity shares.

Inga Ventures Pvt Ltd serves as the book running lead manager for the IPO, while Link Intime India Private Ltd handles the registrar responsibilities. The IPO GMP stands at +73, indicating a premium of ₹73 per share in the grey market. The expected listing price is forecasted at ₹788 apiece, signaling a 10.21% increase over the IPO price of ₹715.

Grey market activity displayed rising trends over 20 sessions with a fluctuating GMP range reaching a high of ₹90. The IPO GMP reflects investors’ willingness to pay a premium above the issue price as they anticipate a successful listing. Investors should make decisions after consulting financial experts to ensure informed investment choices.

Rachel Adams

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