Icon Facilitators Ltd. plans to launch an initial public offering to raise funds. The company intends to expand operations and targets a revenue of Rs 100 crore by fiscal 2027.
Khambatta Securities Ltd. has been appointed as the book-running lead manager to oversee the initial public offering process, according to a company statement.
The company reported Rs 49.84 crore revenue from operations in fiscal 2024, against Rs 42.96 crore in fiscal 2023.
To support their growth trajectory, the technical facilities management services provider is considering an initial public offering.
The IPO is meant to provide the company with the capital to expand its client base, build-up its geographic presence across India, and invest in advanced technologies to augment its service offerings, it stated.
"We are planning to continue to expand the scope and range of current services to our existing and new clients by continuing to build our expertise and extend our capabilities," Managing Director Dinesh Makhija said.
In order to achieve the anticipated growth, we are planning to raise funds through an IPO, and we are confident of achieving Rs 100 crore in revenues by Fiscal 2027, he stated.
IFL provides technical facilities management services, such as electrical system management operation, captive power management, sewage treatment plants and effluent treatment plants and water treatment, heating, ventilation, and air conditioning management, building management system, fire and safety equipment, elevators escalators operations and maintenance and annual maintenance contract of electrical and mechanical installations equipment.
The company is present in Haryana, Uttar Pradesh and Delhi, with 72, 37 and 18 sites, respectively. It is also present in other regions, including Rajasthan with five sites, and one site each in Punjab and Himachal Pradesh.
IFL has recently opened a new office in Bengaluru as part of its strategic expansion into the southern region and anticipates significant business growth in the region.
It primarily provides services to industrial, commercial, retail, and residential clients on the B2B model.
(With inputs from PTI).
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