- Stalwart People Services filed draft papers with SEBI for an IPO of up to Rs 150 crore
- IPO includes fresh share issue and offer-for-sale by promoters Christopher Arvinth and Caroline Mendez
- Company plans to use proceeds for working capital, debt repayment, and corporate purposes
Security and facility management services provider Stalwart People Services has submitted draft documents with markets regulator Securities And Exchange Board of India (SEBI) to mobilise funds through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of shares aggregating up to Rs 150 crore and an offer-for-sale (OFS) of 52,64,151 equity shares by promoters Christopher Arvinth and Caroline Mendez, according to the draft red herring prospectus (DRHP) filed on Monday.
Proceeds of the fresh issue will be used to support working capital requirements, debt payment and general corporate purposes.
Incorporated in 2003, Stalwart People Services is primarily engaged in offering security services, facilities management services and staffing solutions under a single umbrella.
As of April 30, 2026, it had a staff strength of 25,070 personnel and served 1,099 clients across 23 states, three Union Territories and two countries in West Asia.
Some of Stalwart's clients include Yes Bank, Zepto, PVR Inox, Century Panels and GNITS (G Narayanamma Institute of Technology and Science)
The Tamil Nadu-headquartered company is likely to consider a pre-IPO placement of equity shares aggregating up to Rs 22.5 crore, before filing the Red Herring Prospectus with the RoC. If this placement is completed, the amount raised will be reduced from the fresh issue.
During the nine-month period ended December 31, 2025 (9MFY26), the company reported revenue from operations of Rs 474 crore and profit after tax (PAT) of Rs 22.8 crore.
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SIS Ltd, TeamLease Services, Updater Services, Krystal Integrated Services and Kapston Services are the company's listed peers.
Bajaj Capital Securities is the sole book-running lead manager for the public offer.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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