Krystal Integrated Services IPO: GMP, subscription status, review, other details. Apply or not as bidding ends today?

Krystal Integrated Services IPO GMP today

As per the market observers, Krystal Integrated Services IPO GMP (grey market premium) today is ₹65, which is ₹39 higher than the GMP on the subscription opening date. This means the grey market has remained bullish on the book build issue despite the sell-off on Friday. If the trend continues, then there can be a sharp rise in the Krystal Vehicles Services IPO subscription status as bidding is going to end today.

In the first two days of bidding, the public issue has been booked 0.70 times whereas its retail portion has been booked 0.58 times. The NII portion has been subscribed 1.15 times while the QIB segment has been filled 0.57 times.

On whether Krystal Integrated Services IPO is good or bad for an investor, Parth Shah, Research Analyst at StoxBox said, “With the outsourced integrated facility management market in India expected to grow at a CAGR of 14.6% and the public administration, industrial, commercial offices, healthcare, educational institutions, railways, and metro, and airport sectors expected to drive demand for the market, the company will derive benefits from such macroeconomic factor. Also, as the companies offering management services require an immense level of expertise, trust, and quality in the provision of service Krystal Integrated Services Ltd has a competitive advantage in the market. Filling the gap of such a growing demand, the company emerges as a one-stop solution to cater to the market in the coming years. Hence, remaining positive towards the issue, we recommend the market participants subscribe to the issue for a long-term horizon.”

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Advising investors to invest after a sizeable correction in the secondary market, Amit Goel, Co-Founder and Chief Global Strategist at Pace 360 said, “Krystal Integrated Services Limited is one of the leading integrated facilities management services providers, incorporated in December 2000. The company offers staffing, payroll management, private security, manned guarding, and catering services. However, we expect the muted listing of Krystal Integrated Services IPO. We advise investors not to apply for the IPO. The equity markets being quite overvalued, we believe investors should not invest till the time there is a sizeable correction.”

Giving an ‘avoid’ tag to the book build issue, VLA Ambala, a SEBI registered research analyst said, “The over-priced valuation and the negative sentiment of the broader market might hamper its listing. Notably, its net borrowings doubled in a year and grew 85% in the last three years, while PAT plunged from 38.41 to 20.56 in September 2023, raising a red flag for this IPO. Keeping all these in mind, I don’t see any major gains. So, those seeking listing gains can avoid this one.”

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 18 Mar 2024, 09:21 AM IST