Krystal Integrated Services Ltd. has announced to open its Initial Public Offer (IPO) of equity shares on Thursday, March 14, 2024 in the price band of ₹680 to ₹715 per equity share with face value of ₹10 each. Bids can be made for a minimum of 20 equity shares and in multiples of 20 shares thereafter.
The IPO size comprises of fresh issue aggregating up to ₹175 crore and Offer for Sale (OFS) of up to 1,750,000 equity shares by selling shareholders.
The issue will close on Monday, March 18, 2024.
The company proposes to utilise the net proceeds from the fresh issue towards funding repayment/prepayment, in full or part, of certain borrowings amounting to ₹10 crore; funding working capital requirements amounting to ₹100 crore; funding capital expenditure for purchase of new machinery amounting to ₹10 crore and the balance amount towards general corporate purposes.
