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Icon Facilitators IPO
Price Band
₹85.0–91.0
Issue Size
₹19.11 Cr
Lot Size
1,200 shares
Min Investment
₹109,200
GMP
—
Issue Price
₹91.0
Icon Facilitators IPO AI Summary
- Icon Facilitators IPO is listed on BSE SME in the Diversified Commercial Services sector.
- Price band: ₹85.0–₹91.0 per share, lot size 1,200 shares (min. investment ₹109,200).
- Subscription window: 24 Jun–26 Jun 2025, listing on 01 Jul 2025.
Icon Facilitators Limited is a facilities management company with a strong presence in Northern India, offering a variety of integrated services. With a solid financial performance and a diverse client base, the company is poised for growth as it expands its operations.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Icon Facilitators IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 26 Jun 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Icon Facilitators IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in 2002, Icon Facilitators Limited (IFL) is a facilities management company offering integrated technical services across India. The company provides a comprehensive range of services, including electrical system management, HVAC operations, water treatment, fire and safety equipment maintenance, and more. The company offers Integrated Facilities Management, covering soft services like housekeeping and pest control, and hard services like HVAC, electrical management, fire safety, and building operations. The company operates mainly in Northern India with 127 sites, recently expanding to Bengaluru for growth. Mr. Basil Arun Keelor leads South India operations to strengthen the company’s presence. Products: Electrical System Management Operations Captive Power Diesel Generation Management STP/ETP and Water Management Services HVAC Management As on May 15, 2025, the company has 1,955 employees on roll. Competitive Strength: One of the strongest players in North India with largest and Premium Portfolios under one belt. Diverse base of clients with longstanding relationships. Quality oriented delivery of services. Experienced Promoter supported by a dedicated management team and employee base. Historical track-record of strong financial performance, with a scalable, agile and efficient business model.
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 23.95 | 17.66 | 14.93 |
| Total Income | 58.07 | 49.85 | 42.96 |
| Profit After Tax | 4.47 | 1.76 | 1.92 |
| EBITDA | 6.55 | 2.89 | 3.12 |
| NET Worth | 12.69 | 5.95 | 4.19 |
| Reserves and Surplus | 6.93 | 5.94 | 4.18 |
Key Ratios
EPS
₹7.76
NAV
₹22.47
ROE
35.23%
ROCE
37.09%
RoNW
35.23%
P/B Value
4.05
P/E Ratio
11.72
Market Cap
₹71.52 Cr
PAT Margin
7.70%
Debt/Equity
0.35
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Rithwik Facility Management Services Ltd | 77.98 | 14.67% | 14.23 | 11.44 | 11.44 |
| Krystal Integrated Services Limited | 312.92 | 14.3% | 13.85 | 44.61 | 44.61 |
| Updater Services Limited | 144.07 | 12.33% | 17.73 | 17.74 | 17.7 |
| Icon Facilitators Limited This IPO | 22.47 | 35.23% | — | 7.91 | 7.91 |
Promoters
Dinesh Makhija and Pooja Makhija
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Working Capital Requirement 16.00 2 General Corporate Purposes 2.00 3 Issue Expenses 1.11 Total 19.11
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹42.96 Cr in the year ending 31 Mar 2023, rising to ₹49.85 Cr by 31 Mar 2024, and further increasing to ₹58.07 Cr by 31 Mar 2025. This indicates a consistent upward trend in revenue over the reported periods.
Profit Trend
Profit after tax was ₹1.92 Cr for the year ending 31 Mar 2023, which rose to ₹1.76 Cr by 31 Mar 2024, and then significantly increased to ₹4.47 Cr by 31 Mar 2025. This shows a strong growth in profitability, particularly in the most recent period.
Valuation
At the issue price of ₹91.0, Icon Facilitators has an implied P/E ratio of approximately 11.72, compared to peers trading at P/E ratios ranging from 13.85 to 17.73.
Grey Market Premium, Explained
The grey market refers to the unofficial trading of shares before they are listed on the stock exchange. Grey market premium (GMP) indicates the expected listing price of an IPO based on demand in this unofficial market. A higher GMP suggests strong demand, while a lower or negative GMP indicates weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's important to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid IPOs like this, which can be more volatile and uncertain in the short term.
IPO Timeline, Explained
The IPO process includes several key dates: the opening date is 24 June 2025, closing on 26 June 2025, with allotment on 27 June 2025 and listing on 1 July 2025. Investors should be aware of these dates to ensure timely participation.
Listing Gains — The Risk
Listing gains refer to the potential profit made when shares are sold on the listing day. However, these gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock. It is essential to consider the inherent risks and volatility associated with IPOs.
This evaluation is generated from Icon Facilitators's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is the price band of Icon Facilitators IPO?
The price band of Icon Facilitators IPO is ₹85.0–₹91.0 per share.
When does Icon Facilitators IPO open and close?
Icon Facilitators IPO opens on 24 June 2025 and closes on 26 June 2025.
When does Icon Facilitators IPO list on the stock exchange?
Icon Facilitators IPO listed on 01 July 2025 at ₹91.0.
What is the lot size for Icon Facilitators IPO?
The lot size for Icon Facilitators IPO is 1200 shares, requiring a minimum investment of ₹109,200.
What is the price band for the IPO?
The price band for the IPO is ₹85.0 to ₹91.0.
What is the minimum investment amount?
The minimum investment amount is ₹109,200.
What is the lot size for this IPO?
The lot size for this IPO is 1,200 shares.
When is the IPO expected to be listed?
The IPO is expected to be listed on 1 July 2025.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
24 Jun 2025
Close
26 Jun 2025
Allotment
27 Jun 2025
Listing
01 Jul 2025
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