Krystal Integrated Services Limited

Krystal Integrated Services Limited is an integrated facilities management company that was incorporated in December 2000 and is headquartered in Mumbai. The company delivers a broad bundle of soft and hard facility services, including housekeeping, sanitation, landscaping and gardening, mechanical, electrical and plumbing upkeep, waste management, pest control and facade cleaning, and it extends into specialised areas such as production support, warehouse operations and airport management. As of the end of FY23 the company's client base spanned roughly 134 hospitals, 224 schools, two airports, four railway stations and ten metro stations across 14 Indian states, reflecting a footprint built across healthcare, education, public administration, transport infrastructure and retail. A large share of its revenue is derived from contracts with government and public-sector entities, which the company wins through competitive tendering. The business model is manpower intensive, relying on a large frontline workforce to service long duration institutional and government contracts. Revenue is meaningfully concentrated among its largest clients, so retaining marquee accounts and continuing to win new public tenders are central to its growth path, alongside expanding the range of services offered to existing institutional customers.

The company raised about Rs 90 crore from anchor investors ahead of the issue opening, with participants including BofA Securities Europe, ITI Flexi Cap Fund and Quant Business Cycle Fund among others, at the IPO's upper price band.