Krystal Integrated Services Ltd IPO

About Krystal Integrated Services Ltd

Krystal Integrated Services Limited was incorporated as `Sea King Enterprises Private Limited' at Mumbai as a private limited company under the Companies Act, 1956 pursuant to a certificate of incorporation dated December 1, 2000 issued by the Registrar of Companies, Maharashtra at Mumbai (RoC). The name of the Company was changed to `Krystal Tradecom Private Limited' and a fresh certificate of incorporation dated February 6, 2001 was issued by the RoC. Subsequently, the Company diversified its activities and the name of the Company was changed from `Krystal Tradecom Private Limited' to `Krystal Integrated Services Private Limited', and a fresh certificate of incorporation dated May 19, 2009 was issued by the RoC. Pursuant to a resolution of our Board dated June 30, 2023 and a resolution of its shareholders dated July 4, 2023, the Company was converted into a public limited company under the Companies Act, and consequently, the name of the Company was changed to `Krystal Integrated Services Limited' and a fresh certificate of incorporation dated August 4, 2023 was issued by the RoC.

In Fiscal 2023, the Indian outsourced integrated facility management market was estimated to be Rs.980.8 billion. The outsourced integrated facility management market in India is expected to grow at a CAGR of 14.6% between Fiscals 2023-2028, with a potential market size of Rs.1,935.88 billion. Staffing and payroll management services market size in Fiscal 2023 is estimated at Rs.729 billion, with expected growth at CAGR of 20.1% from Fiscals 2023-2028. Private security and manned guarding services market in India is valued at Rs.1,500 billion in Fiscal 2023, expected to grow at CAGR of 20.0% from Fiscal 2023-2028.

Krystal Integrated Services Ltd is one of India's leading integrated facilities management services companies with a focus on healthcare, education, public administration (state government entities, municipal bodies and other government offices), airports, railways and metro infrastructure, and retail sectors (Source: F&S Report). The Company provides a comprehensive range of integrated facility management service offerings across multiple sectors, and consequently are among select companies in India that has a wide geographic presence and customer base, catering to almost all end-user segments, as on March 31, 2023. Under its integrated facilities management offerings, the company provides soft services such as housekeeping, sanitation, landscaping and gardening, hard services such as mechanical, electrical and plumbing services, solid, liquid and biomedical waste management, pest control, fa'ade cleaning and other services such as production support, warehouse management and airport management services (including multi-level parking and airport traffic management). The Company also provides private security and manned guarding services to its customers, as well as staffing solutions and payroll management and catering services. In Fiscals 2021, 2022 and 2023 and six months ended September 30, 2023, the company served 262, 277, 326 and 309 customers, at 1,962, 2,240, 2,427 and 2,160 customer locations in India, respectively.

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