Icon Facilitators IPO, Day 1: Subscription Status, Price Band, GMP And All You Need To Know

Icon Facilitators Ltd. launched its initial public offering (IPO) on June 24 to raise over Rs 19 crore from the primary market. The company provides management services for technical facilities such as water treatment. Those who want to bid for shares in the IPO can check the following details before making an investment call. 

Icon Facilitators IPO is a book-building issue of Rs 19.11 crore. It comprises entirely a fresh issue of 21 lakh shares. The IPO price band has been fixed between Rs 85 and Rs 91 per share.

To take part in the IPO, retail investors need to bid for a single lot size of 1,200 shares, worth Rs 1,09,200. High-Net-Worth Individuals (HNIs) must bid for at least two lots, comprising 2,400 shares. It will require an investment of Rs 2,18,400.

The subscription window for the IPO is open from June 24 to June 26. The IPO share allotment status is expected to be finalised on June 27. Shares are scheduled to be transferred to the Demat accounts of successful bidders on June 30. Refunds for non-allottees will also be processed on the same day. 

Shares of Icon Facilitators Ltd. are scheduled to be listed on the BSE SME platform on July 1. 

Icon Facilitators Ltd. has set aside 4.8% of the net issue for the Qualified Institutional Buyers (QIBs). The company has reserved 45.09% of the net issue size each for Non-Institutional Investors (NIIs) and the retail bidders.

Khambatta Securities Ltd. is the book-running lead manager of the Icon Facilitators IPO. Maashitla Securities Pvt. is the registrar and Nikunj Stock Brokers Ltd. is the market maker for the issue. 

The Icon Facilitators IPO has subscribed 0.21 times as of 11:15 a.m. on Tuesday.

• Qualified Institutional Buyers: nil

• Non-Institutional Investors: 0.26 times

• Retail Investors: 0.19 times

*The subscription status will be updated at regular intervals

The grey market premium (GMP) for Icon Facilitators IPO stood at Rs 11 as of 10:37 a.m. on June 24. The latest GMP indicates a listing price of Rs 102 per share, at a premium of 12.09% over the issue price.

Note: GMP does not represent official data and is based on speculation.

The company offers facility management services for devices such as escalators, electrical systems and captive diesel power generation. It started operations in 2002. 

Use Of Proceeds

The company will use proceeds from the IPO to meet working capital requirements and for general corporate purposes. 

Financials

The company’s profit after tax (PAT) improved significantly by 153.9% year-on-year (YoY) to Rs 4.47 crore in FY25 from Rs 1.76 crore in FY24. Its total income rose 16.5% YoY to Rs 58.07 crore in FY25 from Rs 49.85 crore in FY24. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.