New Delhi, Mar 14 (PTI) The Initial Public Offer (IPO) of facility management and security services provider Krystal Integrated Services got subscribed 36 per cent on the first day of bidding on Thursday.

The initial share sale received bids for 10,78,460 shares against 29,99,448 shares on offer, according to data available with the NSE.

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The category for non-institutional investors received 43 per cent subscription while the portion for Retail Individual Investors (RIIs) got subscribed 34 per cent. The Qualified Institutional Buyers (QIBs) part received 33 per cent subscription.

The IPO has a fresh issue of up to Rs 175 crore and an offer-for-sale component of up to 17,50,000 equity shares.

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The price range for the offer is Rs 680-715 a share.

Krystal Integrated Services has mopped up over Rs 90 crore from anchor investors.

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.

Inga Ventures is the manager to the offer.

Equity shares of the company will be listed on BSE and NSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)