Krystal Integrated Services shares debut with over 11% premium

New Delhi: Shares of facility management and security services provider Krystal Integrated Services Ltd listed with a premium of over 11 per cent on Thursday against the issue price of Rs 715.

The stock made its debut at Rs 795, registering a jump of 11.18 per cent from the issue price on the BSE.

On the NSE, it listed at Rs 785, up 9.79 per cent.

The company's market valuation stood at Rs 1,070.32 crore.

The Initial Public Offering (IPO) of Krystal Integrated Services got subscribed 13.21 times on the last day of bidding on Monday.

The initial share sale had a fresh issue of up to Rs 175 crore and an offer for sale of up to 1,750,000 equity shares.

Price range for the offer was Rs 680-715 a share.

The company began operations in 2000 as a private security staff provider and from 2005 entered the facility management segment.

Around 70 per cent of its facility management business comes from government agencies/departments, including some of the leading airports, the BMC headquarters, and many temples.