Krystal Integrated Services IPO Subscribed 13.49 times

About Krystal Integrated Services IPO

Krystal Integrated Services IPO is book-built issue of ₹ 300.13 cr. It comprises fresh issue of 0.24 cr shares totalling ₹ 175.00 cr & offer for sale of 0.18 cr shares amounting to ₹ 125.13 cr. Krystal Integrated Services IPO opened for subscription on March 14, 2024, & closed on March 18, 2024. allotment for Krystal Integrated Services IPO is expected to be finalized on Tuesday, March 19, 2024. IPO is scheduled to list on BSE & NSE with tentative listing date set as Thursday, March 21, 2024.

Krystal Integrated Services price band is fixed at ₹680 to ₹715 per share. minimum lot size for application is 20 shares. Retail investors need to invest minimum amount of ₹14,300. For sNII, minimum lot size investment is 14 lots (280 shares), amounting to ₹200,200, while for bNII, it is 70 lots (1,400 shares), totalling ₹1,001,000.

Krystal Integrated Services IPO offers investors opportunity to bid for minimum of 20 shares & in multiples thereof. For retail investors, minimum application size is 1 lot, consisting of 20 shares, requiring investment of ₹14,300. maximum application size for retail investors is 13 lots, totalling 260 shares, with investment of ₹185,900. For S-HNI (Super High Net-worth Individuals), minimum application size is 14 lots, comprising 280 shares, amounting to ₹200,200, while maximum is 69 lots, totalling 1,380 shares, with investment of ₹986,700. For B-HNI (Bulk High Net-worth Individuals), minimum application size is 70 lots, consisting of 1,400 shares, requiring investment of ₹1,001,000.

Inga Ventures Pvt Ltd is book running lead manager of Krystal Integrated Services IPO, while Link Intime India Private Ltd is registrar for issue.

Final subscription status of Krystal Integrated Services Ltd

Here is final subscription status of Krystal Integrated Services IPO as at close on 18^th March 2024 5:00 PM.

Krystal Integrated Services IPO witnessed robust subscription, reaching 13.49 times oversubscription. subscription status indicates strong demand from investors across categories.

1. Retail investors subscribed 3.41 times, reflecting moderate interest from individual investors.
2. Qualified Institutional Buyers (QIBs) showed significant interest, subscribing 7.32 times, indicating strong institutional demand.
3. Non-Institutional Buyers (NIIs) demonstrated overwhelming interest, subscribing 45.22 times, with both bNII (bids above ₹10L) & sNII (bids below ₹10L) categories witnessing high subscription levels.
4. Overall, IPO received bids for 3.96 crore shares against offered 29.38 lakh shares, highlighting substantial investor appetite.

This robust subscription status suggests positive market sentiment & investor confidence in Krystal Integrated Services' business prospects, contributing to successful outcome of IPO.

Allocation Quota for various Categories

Krystal Integrated Services issue was open for QIBs, retail investors & HNI / NII investors. There was broad quota designed for each of segments viz. retail, QIB & HNI / NII segments. Market maker action not only improves liquidity in counter but also reduces basis risk. table below captures allocation reservation done for each of categories out of total number of shares offered in IPO.

Data Source: NSE

 allocation of shares in Krystal Integrated Services IPO is as follows:

1. Allocation breakdown indicates that significant portion of IPO shares (30.00%) has been reserved for anchor investors, typically institutional investors who commit to substantial investment before IPO opens to public.
2. Qualified Institutional Buyers (QIBs) are offered 20.00% of total issue size, indicating that institutional investors play significant role in IPO.
3. Non-Institutional Investors (NIIs) or High Net-worth Individuals (HNIs) are allocated 15.00% of total issue size, suggesting that portion of IPO is also open to wealthy individual investors.
4. Retail investors are offered largest share, comprising 35.00% of total issue size, indicating that IPO aims to attract participation from individual investors.

Overall, allocation strategy reflects balanced approach to accommodate different investor categories, aiming to ensure broad participation & successful subscription of IPO.

How Subscription built up for Krystal Integrated Services IPO?

Oversubscription of IPO was dominated by HNI / NII followed by Retail category & QIB category in that order. table below captures day-wise progression of subscription status of Krystal Integrated Services Ltd. IPO was kept open for 3 working days.

Here are key takeaways from subscription numbers on day-wise basis for Krystal Integrated Services Ltd as of close of IPO on 18th March 2024:

• On Day 1, there was moderate interest across all investor categories, with QIBs, NIIs, & retail investors showing initial subscription levels.
• By Day 2, subscription figures increased notably, particularly in NII category, indicating growing investor interest.
• On final day, IPO witnessed remarkable oversubscription across all categories, with QIBs, NIIs, & retail investors subscribing 7.32 times, 45.22 times, & 3.41 times, respectively.

Overall, IPO was oversubscribed 13.49 times, reflecting strong demand & investor confidence in Krystal Integrated Services.

Next steps after closure of IPO

Issue opened for subscription on 14th March 2024 & closed for subscription on 18th March 2024 (both days inclusive). Basis of allotment will be finalized on 19th March 2024 & refunds will be initiated on 20th March 2024. In addition, demat credits are also expected to happen on 20th March 2024 & stock is scheduled to list on 21th March 2024 on NSE, BSE segment. This is segment to mainboard. demat credits to demat account to extent of allotment will happen by close of 20th March 2024.