Icon Facilitators Ltd IPO
Status: Closed
Overview
IPO date
24 Jun 2025 to 26 Jun 2025
Face value
₹ 10 per share
Price
₹ 85 to ₹91 per share
Issue Size
2,100,000 shares
(aggregating up to ₹ 19.11 Cr)
(aggregating up to ₹ 19.11 Cr)
Allotment Date
27 Jun 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
Miscellaneous
Objectives of Icon Facilitators Ltd IPO
Initial public issue of up to 21,00,000 equity shares of face value of Rs.10 each ("equity shares") of the company for cash at a price of Rs. 91 per equity share (including a share premium of Rs. 81 per equity share) ("issue price") aggregating up to Rs. 19.11 crores ("issue / offer"). this issue includes a reservation of up to 1,05,600 equity shares aggregating up to Rs. 0.96 crores for subscription by market maker ("market maker reservation portion"). The issue less the market maker reservation portion is hereinafter referred to as the "net issue". The issue and the net issue shall constitute 26.72% and 25.38%, respectively, of the post-issue paid-up equity share capital of the company, respectively.
Icon Facilitators Ltd IPO Strategy
- To Maintain and Expand our Current Business Relationships
- Quality Assurance ensuring standardized quality of our services
- To target pan-India and regional contracts.
- To focus on Operational efficiency
About Icon Facilitators Ltd
Icon Facilitators Limited was originally incorporated as Icon Facilitators Private Limited' as a Private Limited Company on September 20, 2013 pursuant to a Certificate of Incorporation issued by the Registrar of Companies, Delhi & Haryana. Thereafter, Company converted into a public limited from a private limited and the name of the Company was changed from Icon Facilitators Private Limited' to Icon Facilitators Limited' and a fresh Certificate of Incorporation was issued by the Registrar of Companies, NCT of Delhi and Haryana on June 05, 2024.
The Company is engaged in providing Technical Facility Management services such as (i) Electrical System Management Operation (ii) Captive Power Management (iii) STP/ETP and Water Treatment (iv) HVAC Management (v) Building Management System (BMS) (vi) Fire & Safety Equipment's (vii) Elevators Escalators Operations & Maintenance and (viii) Annual Maintenance Contract of E & M Equipment. Company Operation are mainly concentrated in Northern part of India, in Haryana, Uttar Pradesh and Delhi, other geographies include Punjab, Rajasthan, Maharashtra, and Himachal Pradesh.
Integrated Facilities Management services are broadly categorized into 'Hard Services' and 'Soft Services'. Soft Services include housekeeping, carpet shampooing, upholstery and façade cleaning, pest control, fumigation, and pantry and cafeteria management. Hard Services, encompass electro-mechanical services, electrical system management and operations, captive power management, STP/ETP and water treatment, HVAC management, building management systems (BMS), fire and safety equipment, as well as elevator and escalator operations and maintenance.
Company primarily provides Hard Services to industrial, commercial, retail, and residential clients on B2B model. Typical facility management includes maintaining electrical systems, machinery, operating DG sets during outages, managing STP/ETP plants, and ensuring fire safety operations. It opened a new office in Bengaluru on August 06, 2024, as part of its strategic expansion. In response to growing need for professional technical facilities management, electromechanical, and manpower services, Company emphasize local customer relations and service.
The Company launched the initial public offering of 21,00,000 Fresh Issue of Equity Shares having the face value Rs 10 by raising funds to Rs 19.11
Crore in June, 2025.
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T&C*
Strengths vs Risks of Icon Facilitators Ltd
Know the pros & cons
Strengths
Strong, experienced and dedicated senior management team and qualified workforce.- Geographical presence in 5 States and 1 Union Territory.
- Ability to provide good quality services and customer satisfaction.
- Ability to scout for new opportunities and capitalising the same.
- Consistent track record of growth and financial performance.
- Ability to serve diverse customer needs.
Risks
- Its business is largely concentrated in North India and is affected by various factors associated with these states.
- The Company has reported certain negative cash flows from its operating activities, investing activities and financing activities, details of which are given below. Sustained negative cash flow could impact its growth and business.
- The company has a large workforce deployed across workplaces and customer premises. Consequently, its may be exposed to service-related claims and losses or employee disruptions, as well as employee related regulatory risks, that could have an adverse effect on its reputation, business, cash flows, results of operations and financial condition.
- There have been certain instances of delays in payment of certain statutory dues by the company. Any further delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may have a material adverse impact on its financial condition and cash flows.
- There have been instances of delays of certain forms which were required to be filed as per the reporting requirements under the Companies Act, 2013 to the Registrar of Companies.
- Its revenue from operations is highly dependent upon a limited number of customers, with its largest, top 5 and top 10 customers contributing to more than 49.59%, 73.58% & 87.17%, respectively of its revenue from operations for Fiscal 2025.
- The company has significant employee benefit expenses, such as workers' compensation, staff welfare expenses and contribution to provident and other funds. In case the company faces an increase in employee costs that the company is unable to pass on to its customers, the company may be prevented from maintaining its competitive advantage and the company profitability may be impacted.
- The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on its financial condition and results of operations.
- The company is engaged in the third-party verification procedure for its personnel prior to assigning them to its customers, which may impact the company reputations, cash flows and business prospects.
- Its businesses are manpower intensive and the company inability to attract and retain skilled manpower could have an adverse impact on its growth, business and financial condition. Further, in the event the company is not able to manage its attrition, the company may not be able to meet the expectations of its customers, which may have an adverse impact on its financial condition.
- Its revenues and profitability vary across the company services, thereby making its future financial results less predictable.
- Its customers may delay or default in making payments for services rendered by it. If the company is unable to collect its receivables from the company customers, its profits, cash flows and liquidity could be adversely affected.
- Certain of its customer contracts can be terminated by the company customers without cause and with or without penalty, which could negatively impact its revenue and profitability.
- The industries in which the company operates are intensely competitive and have low barriers to entry in certain instances. Its inability to compete effectively may adversely affect its business, cash flows, results of operations and financial condition.
- The premises for its Registered Office as well as other offices are held by it on lease which subject it to certain risks.
- The Company has experienced multiple instances of minor delays in filing of returns required under the CGST Act, 2017, the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 and Employee State Insurance.
- The Company, Promoters, Directors, Group Entities, and KMPs are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
- Its business is working capital intensive. If the company is experience insufficient cash flows to meet required payments on its working capital requirements, there may be an adverse effect on the results of its operations.
- Some of its borrowings carry restrictive covenants or conditions and could affect its ability to manage the company business operations.
- Majority of the Independent Directors does not have qualification & experience related to the business of the Company.
- Any failures to protect or enforce its rights to own or use the company trademark could have an adverse effect on its business and competitive position.
- In addition to normal remuneration, other benefits and reimbursement of expenses of some of its Directors (including its Promoters) and Key Management Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- Any variation in the utilisation of the Net Proceeds of the Issue as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
- The average cost of acquisition of Equity Shares by its Promoters is lower than the floor price.
- The company is exposed to the risks of malfunctions or disruptions of information technology systems that will affect its operations, cost & financial results of the Company.
- Its funding requirements and deployment of the Net Proceeds of the Fresh Issue are based on management estimates and have not been independently appraised by any bank or financial institution.
- Its Promoters and Promoters Group will continue to exercise control post completion of the Issue and will have considerable influence over the outcome of matters.
- The company benefit from its relationship with the company Promoters and its business & growth prospects may decline if the company cannot benefit from this relationship in the future.
- Its insurance coverage may not be sufficient or may not adequately protect it against any or all hazards, which may adversely affect its business, results of operations and financial condition.
Icon Facilitators Ltd Peer Comparison
Understand the company’s industry standing
Icon Facilitators Limited
Updater Services Limited
Krystal Integrated Services Limited
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
standalone
Total Income Rs. Cr.
58.0655
2771.73
1229.277
EPS-Basis
7.91
17.74
44.61
EPS-Diluted
7.91
17.7
44.61
NAV Per Share
22.47
144.07
312.92
P/E-Basic EPS
---
17.73
13.85
P/E-Diluted EPS
---
---
---
RONW(%)
35.23
12.33
14.3
Latest NAV Period
---
---
---
Latest NAV
---
---
---
How to check the allotment status of Icon Facilitators Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 24 Jun 2025 & closes on 26 Jun 2025.
Icon Facilitators Limited was originally incorporated as Icon Facilitators Private Limited' as a Private Limited Company on September 20, 2013 pursuant to a Certificate of Incorporation issued by the Registrar of Companies, Delhi & Haryana. Thereafter, Company converted into a public limited from a private limited and the name of the Company was changed from Icon Facilitators Private Limited' to Icon Facilitators Limited' and a fresh Certificate of Incorporation was issued by the Registrar of Companies, NCT of Delhi and Haryana on June 05, 2024.
The Company is engaged in providing Technical Facility Management services such as (i) Electrical System Management Operation (ii) Captive Power Management (iii) STP/ETP and Water Treatment (iv) HVAC Management (v) Building Management System (BMS) (vi) Fire & Safety Equipment's (vii) Elevators Escalators Operations & Maintenance and (viii) Annual Maintenance Contract of E & M Equipment. Company Operation are mainly concentrated in Northern part of India, in Haryana, Uttar Pradesh and Delhi, other geographies include Punjab, Rajasthan, Maharashtra, and Himachal Pradesh.
Integrated Facilities Management services are broadly categorized into 'Hard Services' and 'Soft Services'. Soft Services include housekeeping, carpet shampooing, upholstery and façade cleaning, pest control, fumigation, and pantry and cafeteria management. Hard Services, encompass electro-mechanical services, electrical system management and operations, captive power management, STP/ETP and water treatment, HVAC management, building management systems (BMS), fire and safety equipment, as well as elevator and escalator operations and maintenance.
Company primarily provides Hard Services to industrial, commercial, retail, and residential clients on B2B model. Typical facility management includes maintaining electrical systems, machinery, operating DG sets during outages, managing STP/ETP plants, and ensuring fire safety operations. It opened a new office in Bengaluru on August 06, 2024, as part of its strategic expansion. In response to growing need for professional technical facilities management, electromechanical, and manpower services, Company emphasize local customer relations and service.
The Company launched the initial public offering of 21,00,000 Fresh Issue of Equity Shares having the face value Rs 10 by raising funds to Rs 19.11
Crore in June, 2025.
Icon Facilitators Ltd IPO will close on 26 Jun 2025.
- Strong, experienced and dedicated senior management team and qualified workforce.
- Geographical presence in 5 States and 1 Union Territory.
- Ability to provide good quality services and customer satisfaction.
- Ability to scout for new opportunities and capitalising the same.
- Consistent track record of growth and financial performance.
- Ability to serve diverse customer needs.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Dinesh Makhija | 4132500 | 71.75 | 4132500 | 52.58 |
| 2 | Pooja Makhija | 824847 | 14.32 | 824847 | 10.49 |
| 3 | Ankit Makhija | 275500 | 4.78 | 275500 | 3.51 |
| 4 | Anushka Makhija | 275500 | 4.78 | 275500 | 3.51 |
| 5 | Asha Makhija | 551 | 0.01 | 551 | 0.01 |
- Its business is largely concentrated in North India and is affected by various factors associated with these states.
- The Company has reported certain negative cash flows from its operating activities, investing activities and financing activities, details of which are given below. Sustained negative cash flow could impact its growth and business.
- The company has a large workforce deployed across workplaces and customer premises. Consequently, its may be exposed to service-related claims and losses or employee disruptions, as well as employee related regulatory risks, that could have an adverse effect on its reputation, business, cash flows, results of operations and financial condition.
- There have been certain instances of delays in payment of certain statutory dues by the company. Any further delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may have a material adverse impact on its financial condition and cash flows.
- There have been instances of delays of certain forms which were required to be filed as per the reporting requirements under the Companies Act, 2013 to the Registrar of Companies.
- Its revenue from operations is highly dependent upon a limited number of customers, with its largest, top 5 and top 10 customers contributing to more than 49.59%, 73.58% & 87.17%, respectively of its revenue from operations for Fiscal 2025.
- The company has significant employee benefit expenses, such as workers' compensation, staff welfare expenses and contribution to provident and other funds. In case the company faces an increase in employee costs that the company is unable to pass on to its customers, the company may be prevented from maintaining its competitive advantage and the company profitability may be impacted.
- The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on its financial condition and results of operations.
- The company is engaged in the third-party verification procedure for its personnel prior to assigning them to its customers, which may impact the company reputations, cash flows and business prospects.
- Its businesses are manpower intensive and the company inability to attract and retain skilled manpower could have an adverse impact on its growth, business and financial condition. Further, in the event the company is not able to manage its attrition, the company may not be able to meet the expectations of its customers, which may have an adverse impact on its financial condition.
- Its revenues and profitability vary across the company services, thereby making its future financial results less predictable.
- Its customers may delay or default in making payments for services rendered by it. If the company is unable to collect its receivables from the company customers, its profits, cash flows and liquidity could be adversely affected.
- Certain of its customer contracts can be terminated by the company customers without cause and with or without penalty, which could negatively impact its revenue and profitability.
- The industries in which the company operates are intensely competitive and have low barriers to entry in certain instances. Its inability to compete effectively may adversely affect its business, cash flows, results of operations and financial condition.
- The premises for its Registered Office as well as other offices are held by it on lease which subject it to certain risks.
- The Company has experienced multiple instances of minor delays in filing of returns required under the CGST Act, 2017, the Employees' Provident Fund and Miscellaneous Provisions Act, 1952 and Employee State Insurance.
- The Company, Promoters, Directors, Group Entities, and KMPs are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
- Its business is working capital intensive. If the company is experience insufficient cash flows to meet required payments on its working capital requirements, there may be an adverse effect on the results of its operations.
- Some of its borrowings carry restrictive covenants or conditions and could affect its ability to manage the company business operations.
- Majority of the Independent Directors does not have qualification & experience related to the business of the Company.
- Any failures to protect or enforce its rights to own or use the company trademark could have an adverse effect on its business and competitive position.
- In addition to normal remuneration, other benefits and reimbursement of expenses of some of its Directors (including its Promoters) and Key Management Personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.
- Any variation in the utilisation of the Net Proceeds of the Issue as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
- The average cost of acquisition of Equity Shares by its Promoters is lower than the floor price.
- The company is exposed to the risks of malfunctions or disruptions of information technology systems that will affect its operations, cost & financial results of the Company.
- Its funding requirements and deployment of the Net Proceeds of the Fresh Issue are based on management estimates and have not been independently appraised by any bank or financial institution.
- Its Promoters and Promoters Group will continue to exercise control post completion of the Issue and will have considerable influence over the outcome of matters.
- The company benefit from its relationship with the company Promoters and its business & growth prospects may decline if the company cannot benefit from this relationship in the future.
- Its insurance coverage may not be sufficient or may not adequately protect it against any or all hazards, which may adversely affect its business, results of operations and financial condition.
The Issue type of Icon Facilitators Ltd is Book Building - SME.
The minimum application for shares of Icon Facilitators Ltd is 1200.
The total shares issue of Icon Facilitators Ltd is 2100000.
Initial public issue of up to 21,00,000 equity shares of face value of Rs.10 each ("equity shares") of the company for cash at a price of Rs. 91 per equity share (including a share premium of Rs. 81 per equity share) ("issue price") aggregating up to Rs. 19.11 crores ("issue / offer"). this issue includes a reservation of up to 1,05,600 equity shares aggregating up to Rs. 0.96 crores for subscription by market maker ("market maker reservation portion"). The issue less the market maker reservation portion is hereinafter referred to as the "net issue". The issue and the net issue shall constitute 26.72% and 25.38%, respectively, of the post-issue paid-up equity share capital of the company, respectively.
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