Clear Secured Services Ltd IPOCSSL

The IPO opens on 01 Dec 2025 & closes on 03 Dec 2025.

Clear Secured Services Limited was originally formed as a Private Limited Company in the name of 'Clear Secured Services Private Limited' on October 14, 2008 vide certificate of incorporation issued by Registrar of Companies, Mumbai. Subsequently, Company was converted into a Public Limited Company and the name was changed to 'Clear Secured Services Limited' pursuant to a fresh Certificate of Incorporation dated March 06, 2025 issued by the Registrar of Companies, Mumbai. Company is a service provider primarily engaged in providing Facility Management Services in supply of manpower for ATM Caretaking & Maintenance, Housekeeping services, Security Guard services, Construction of ATM sites, Repairs & Maintenance of ATM sites, Erection and installation of Telecom towers and allied support services. Company provides services at improving operational efficiency and supporting business functions across different sectors. It specialize in Integrated Facility Management (IFM), offering both soft services - such as housekeeping, security services, payment management services, staffing services and hard services, including electro-mechanical services, repair and maintenance services, facade cleaning and pest control services. Under Support Services, it deliver Total Infrastructure Solutions (TIS), which include interior design, plumbing, fire safety, and office furniture services. These are designed to improve workplace functionality and design. In the agro-food sector, it assist with sourcing and trading of millets and wheat. Telecom Infrastructure Solutions cover mobile tower installations, while the Cash Van service supports the secure transport of cash for ATM operations. Through the service network and domain experience, Company help businesses to manage routine operations, by focusing on their primary activities. Company is planning the Initial Public Issue of 64,85,000 equity shares of face value of Rs 10 each through Fresh Issue.

Clear Secured Services Ltd IPO will close on 03 Dec 2025.

<ul><li>Integrated Service Offerings and Strategic Business Model Positioned for Industry Growth.</li><li>Strong, Ongoing Relationships with Clients Across Key Sectors.</li><li>Proven Financial Success Driven by Scalable, Efficient Business Model and Consistently High-Quality Service Delivery.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Vimal Dhar Lalta Prasad Dubey</td> <td>8780800</td> <td>50</td> <td>8780800</td> <td>36.51</td> </tr> <tr> <td>2</td> <td>Rakesh Dhar Dubey</td> <td>4390528</td> <td>25</td> <td>4390528</td> <td>18.26</td> </tr> <tr> <td>3</td> <td>Kusum Vimal Dubey</td> <td>64</td> <td>---</td> <td>64</td> <td>---</td> </tr> <tr> <td>4</td> <td>Sanjay Dubey</td> <td>4390528</td> <td>25</td> <td>4390528</td> <td>18.26</td> </tr> <tr> <td>5</td> <td>Ashish Vimaldhar Dubey</td> <td>64</td> <td>---</td> <td>64</td> <td>---</td> </tr> </tbody> </table>

<ul><li>Its business requires significant working capital. the company may not be able to secure future financing on favourable terms or at all, nor may its be able to provide bank guarantees when needed. If the experience insufficient cash flows from its operations or are unable to obtain the necessary funds to meet the company working capital requirements, it could materially and adversely impact the business and results of operations.</li><li>The Company, Promoters, Subsidiaries, and Directors are currently involved in ongoing legal proceedings. Any unfavorable outcome in these proceedings could result in liabilities or penalties, which may negatively impact the business, financial performance, cash flows, and reputation.</li><li>One of the company Promoters, who exercises significant influence over the Company, is subject to serious pending criminal litigation, which may adversely impact the Company's operations, financial performance, reputation, and stakeholder confidence.</li><li>The company business revenue is primarily dependent on a few key customers.</li><li>A considerable portion of its revenue comes from government contracts secured through a competitive bidding process. However, there is no guarantee that its will qualify for, win, or successfully compete for these tenders, nor that the company will be able to sustain these customer relationships.</li><li>A substantial portion of the company revenue is generated from a limited number of geographical regions, and any negative developments in these areas could adversely impact the business, cash flows, operational results, and financial condition.</li><li>A large portion of our business revenue comes from a limited number of segments.</li><li>Incomplete documentation of educational qualifications by certain Key and Senior Managerial Personnel may lead to reputational or regulatory concerns and could adversely impact stakeholder perception and our corporate governance standards.</li><li>Any historical or ongoing non-compliance with certain state-level regulatory requirements may require corrective actions and increased compliance efforts as we expand our operations across jurisdictions.</li><li>We require a number of approvals, NOCs, licenses, registrations and permits in the ordinary course of our business. Some of these approvals are required to be transferred in the name of "Clear Secured Services Limited" from "Clear Secured Services Private Limited" pursuant to conversion and name and address change of our company and any failure or delay in obtaining such approvals or renewal of the same in a timely manner may adversely affect our operations.</li><li>There have been certain instances of non-compliances in respect of ROC benefit related filing or payments. (Till stub period).</li><li>The company has in past entered into related party transactions and we may continue to does so in the future.</li><li>Operational risks are an inherent part of our business, given the diverse environments in which we operate based on customer requirements. Failing to effectively manage these risks-such as errors, defects, service disruptions, or the inability to meet expected or agreed-upon service standards-could negatively affect our business, cash flow, operational results, and financial condition.</li><li>Given the company large workforce deployed across various workplaces and customer premises, its may face service-related claims, employee disruptions, and regulatory risks associated with the employees. These factors could negatively impact its reputation, business, cash flows, operational results, and financial condition.</li><li>Its business is highly manpower-intensive, and any challenges in attracting and retaining skilled personnel could negatively affect the company growth, operations, and financial condition. Additionally, if the company unable to manage employee attrition effectively, its may struggle to meet customer expectations, which could further impact the company financial health.</li><li>The company may face negative impacts if existing customers does not renew their contracts or if the company unable to attract new ones.</li><li>The company has complied with the timely filing requirement for statutory dues but made delays in payment of statutory dues in a few cases whose details have been explained below.</li><li>Its may face challenges in conducting background verification procedures for the company personnel, including billable employees, before assigning them to the customers.</li><li>The company revenues and profitability fluctuate across different business segments, making it difficult to predict the future financial performance.</li><li>Any major disruptions to the company information technology or ERP systems, as well as breaches in data security, could has a negative impact on the business. Additionally, Its may face risks and incur costs related to safeguarding the integrity and security of both the company systems and the sensitive operational and confidential information of the customers.</li><li>The company may face regulatory and operational challenges in the event of any variation in the utilisation of Net Proceeds or modification of disclosed contractual terms, which could adversely affect its business, cash flows, results of operations, and financial condition.</li><li>The company has sustained negative cash flows from operating activities in the past and may experience earnings declines or operating losses or negative cash flows from operating activities in the future.</li><li>The company has recently transferred the Trading of Agro Foods segment to the company wholly owned subsidiary, Clear Secured Venture Private Limited which contributed 26.89% of the company total consolidated revenue for the five months period ended August 31, 2025. This segment is entirely dependent on a single client, and any reduction or loss of business from this client may materially and adversely affect the company financial performance.</li><li>A downgrade in our credit ratings could materially adversely affect our business, financial condition, and our ability to raise capital in the future.</li><li>The company dependent on third-party vendors for the supply of equipment and support services used in delivering our services, and any disruption in such supply or price fluctuations may adversely affect the business, financial condition, cash flows, and results of operations.</li><li>Its propose to repay or prepay all or a portion of certain outstanding borrowings availed by the Company from the Net Proceeds of the Issue, and there can be no assurance that such repayment or prepayment will improve our financial condition or result in any significant benefit to the Company.</li><li>The company does not own the trademarks and logos used in the business and have not entered into trademark license agreements with its Promoters for the usage of such intellectual property rights, which may adversely impact its business and brand identity.</li><li>The company lack of alternate financing arrangements for the Objects of the Issue and proposed deployment of Net Proceeds in the company Subsidiary without direct asset creation may adversely affect the operations, financial position, and growth prospects.</li><li>Its may need to obtain or renew certain approvals or licenses as part of the regular business operations or when launching new ventures. If the company fail to secure, maintain, or renew the necessary licenses, registrations, permits, or approvals, it could negatively impact the business, cash flow, and financial performance.</li><li>Its business relies on a number of key personnel, including senior management. The loss of, or the company inability to attract and retain, these individuals could have a negative impact on the business, cash flow, financial performance, and overall operations.</li><li>The industries its operate in are highly competitive, with some segments having low barriers to entry. If the company unable to compete effectively, it could have a negative impact on the business, cash flows, financial performance, and overall operations.</li><li>The company face risks related to its contracts, including accurately evaluating pricing terms, employee expenses, and other financial commitments, as well as managing the growing complexity of the agreements and the possibility of early termination or scope changes by clients.</li><li>Political and administrative decisions may impact its ability to fulfill contracts with public sector undertakings or governmental customers.</li><li>The company customers may delay or default on payments for services rendered. If the company unable to collect receivables, it could negatively impact Its profits, cash flows, and liquidity.</li><li>The company financing agreements include covenants that limit the company flexibility in operating its business. Failure to meet the company obligations, including financial and other covenants under these debt financing arrangements, could negatively impact its business, cash flows, results of operations, and financial condition.</li><li>The company has previously entered into related party transactions and may continue to does so in the future. These transactions could potentially have an adverse effect on the company business.</li><li>The company recent conversion from a private limited company to a public limited company may lead to administrative complexities and a failure to update all the company agreements, including leave and license agreements for the company branches, with its new company name, which could adversely affect the company operations and financial performance.</li><li>Outsource certain operations of the business to third parties.</li><li>Dependence on brand recognition. Negative publicity, failure to maintain and enhance awareness of brand or any damage to reputation could have a material adverse effect.</li><li>Engagement of contract workers for carrying out functions of business operations.</li><li>The Company is subject to increasingly stringent environmental, health and safety laws, regulations and standards in India and abroad.</li><li>Its subject to risks arising from interest rate fluctuations, which could reduce the company profitability and affect the company business, cash flows, financial condition and results of operations.</li><li>The company insurance coverage may not be sufficient to cover all risks or material hazards, potentially leaving it vulnerable to losses. If significant risks are not adequately insured, it could adversely impact the company business, cash flows, and financial condition.</li><li>The company face risks from health crises like epidemics and pandemics, including COVID-19, which could harm its business.</li><li>The company management will has significant discretion in utilizing the Net Proceeds, subject to monitoring. While the company intend to apply the Net Proceeds as specified, there is no guarantee that the objectives of the Issue will be achieved within the expected timeline, or at all. Additionally, there is no assurance that deploying the Net Proceeds as planned will lead to an increase in the value of your investment.</li><li>The company Statutory Auditors have not provided any observations in their reports for five month ended August 31, 2025 and FYs 2025, 2024, and 2023 under the Companies (Auditors Report) Order, 2020.</li><li>The company has not paid any dividends in the past, and its ability to pay dividends in the future will depend on factors such as the company earnings, financial condition, working capital needs, the performance of the company acquired businesses, capital expenditures, and the restrictive covenants of the company financing arrangements.</li><li>The premises for the company branch offices are held on a leasehold basis, which exposes it to risks such as lease renewals, rent increases, and potential disputes with landlords. These risks could impact the company operations and financial stability if leases are not renewed or if terms become unfavorable.</li><li>This Red Herring Prospectus includes information from an Industry Report commissioned by it from Infomerics Analytics & Research. However, there is no assurance that the third-party statistical, financial, and industry information provided is complete or accurate.</li><li>If the company fail to maintain an effective system of internal controls, its may struggle to manage the company financial risks effectively or report the company financial position accurately, which could have a negative impact on its business and financial results.</li><li>Its may need to adjust the company pricing models to remain competitive. Failing to does so could negatively impact its business, cash flows, financial condition, and results of operations.</li><li>Some of the company Promoters, Directors, Key Managerial Personnel, and Senior Management may have interests in the Company beyond normal remuneration or expense reimbursement, which could lead to potential conflicts of interest.</li><li>Conflicts of interest may arise due to common business objectives between the Company, Its Promoters, Group Companies, and certain members of the company Promoter Group.</li></ul>

The Issue type of Clear Secured Services Ltd is Book Building - SME.

The minimum application for shares of Clear Secured Services Ltd is 2000.

The total shares issue of Clear Secured Services Ltd is 6485000.

Initial public issue of up to 64,85,000 equity shares of face value of Rs. 10 /- each of Clear Secured Services Limited (Formerly Known as Clear Secured Services Private Limited), ("Clear Secured" or the "Company" or the "Issuer") for cash at a price of Rs.132/- per equity share including a share premium of Rs.122/- per equity share (the "Issue Price") aggregating to Rs.85.60 crores ("the Issue"), of which 3,25,000 equity shares of face value of Rs. 10 /- each for cash at a price of Rs. 132/- per equity share including a share premium of Rs.122/- per equity share aggregating to Rs.4.29 crores will be reserved for subscription by market maker to the issue (the "Market Maker Reservation Portion"). The issue less the market maker reservation portion i.e. net issue of 61,60,000 equity shares of face value of Rs. 10/- each at a price of Rs. 132/- per equity share including a share premium of Rs.122/- per equity share aggregating to Rs.81.31 crores is hereinafter referred to as the "Net Issue". The issue and the net issue will constitute 26.97 % and 25.62 %, respectively, of the post issue paid up equity share capital of the company. Price Band: Rs. 132/- for equity share of face value of Rs. 10 each. The floor price is 13.20 times times the face value times of the face value of the equity shares. Bids can made for a minimum of 2,000 equity shares and in multiples of 1,000 equity shares thereafter.