Icon Facilitators Limited is an integrated technical facilities management services company headquartered in India, primarily operating across North India. The company delivers a broad array of technical facility solutions that cater to commercial, residential, and institutional setups. Their service portfolio includes:

• Electrical System Management Operations

• Captive Power Management

• STP/ETP and Water Treatment

• HVAC System Maintenance

• Building Management System (BMS)

• Fire & Safety Equipment Management

• Elevator & Escalator Operations and Maintenance

• Annual Maintenance Contracts for E&M Equipment

Their strong presence in North Indian cities and long-standing client relationships make Icon Facilitators a significant player in India's facilities management industry.

IPO Details

Icon Facilitators is launching a Book Built IPO with a total issue size of ₹18.15 Crores, consisting solely of a Fresh Issue of 21.00 lakh equity shares.

• IPO Opening Date: June 24, 2025

• IPO Closing Date: June 26, 2025

• Allotment Date: June 27, 2025 (Friday)

• Listing Date: July 1, 2025 (Tuesday, tentative)

• Stock Exchange: BSE SME

The price band is fixed at ₹85 to ₹91 per share, and at the upper price band of ₹91, the company’s market capitalization will be approximately ₹71.52 Crores.

The lot size for the IPO is 1,200 shares, requiring a minimum retail investment of ₹1,09,200. For HNIs, the minimum investment is 2 lots (2,400 shares) or ₹2,18,400.

Book Running Lead Manager, Registrar, and Market Maker

• Book Running Lead Manager: Khambatta Securities Limited

• Registrar: Maashitla Securities Private Limited

• Market Maker: Nikunj Stock Brokers Limited

Grey Market Premium (GMP)

As of the latest available update, the GMP of Icon Facilitators IPO is ₹0, indicating no premium or expected listing gains based on current demand. Since GMP is derived from unofficial channels and depends heavily on demand-supply in the unregulated market, it should be used for educational purposes only.

Live Subscription Status

The IPO will be live for subscription from June 24 to June 26, 2025. Investors can track real-time updates of subscription data on BSE SME during the offer period.

How to Check Allotment Status

To check your IPO allotment status after June 27, 2025, follow these steps:

1. Visit the registrar's IPO allotment page.

2. Select "Icon Facilitators Limited IPO" from the dropdown.

3. Enter your Application Number, PAN, or DP Client ID.

4. Click Submit to view the allotment status.

IPO Objectives

The net proceeds from the IPO will be utilized for:

1. ₹1,600.00 Lakhs towards meeting the working capital requirements of the company.

2. Remaining funds for General Corporate Purposes.

Promoter Background

The company is promoted by Mr. Dinesh Makhija, a Mechanical Engineer with over 20 years of experience in the technical facility management industry. His leadership has played a vital role in shaping the company’s direction and growth strategy.

Financial Performance

The company has demonstrated steady revenue growth and improving profit margins over the past three fiscal years. The EBITDA more than doubled from FY24 to FY25, showcasing improved operational efficiency.

Valuation Metrics

• Pre-Issue EPS (FY24): ₹7.91

• Post-Issue EPS (FY24): ₹5.69

• Pre-Issue P/E Ratio: 11.50x

• Post-Issue P/E Ratio: 16.00x

• Industry Average P/E: 16x

• ROCE (FY24): 37.09%

• ROE (FY24): 35.23%

• RoNW: 35.23%

These metrics suggest the IPO is fairly valued, in line with industry averages, but may not offer immediate upside potential for short-term investors.

Investment Outlook

Despite strong financials and a focused business model in a niche segment, the absence of GMP premium indicates weak listing gain prospects. The post-issue P/E ratio aligns with the industry average, suggesting a fully priced offering. Therefore, investors seeking listing gains may avoid this IPO. However, long-term investors who believe in the company’s sector growth potential may choose to evaluate further.

Conclusion

Icon Facilitators Limited brings domain expertise and financial stability in the technical facilities management industry. While it demonstrates strong return metrics and operational performance, the lack of excitement in the grey market and higher investment threshold may dampen short-term enthusiasm.

Disclaimer

This article is for educational and informational purposes only and should not be construed as investment advice. Investors are encouraged to consult with certified financial advisors before investing. All market investments carry risks, and past performance is not indicative of future results. Grey Market Premium (GMP) values are unofficial and speculative in nature.

The Upcoming IPOs in this week and coming weeks are Supertech EV, Valencia India, Neetu Yoshi, Abram Food, PRO FX Tech, Suntech Infra Solutions, Shri Hare-Krishna Sponge Iron, Icon Facilitators, Ace Alpha Tech, Globe Civil Projects, Sambhav Steel Tubes, Ellenbarrie Indutrial Gases, Kalpataru, HDB Financials, AJC Jewel.

The Current active IPO are  Aakaar Medical Technologies, Safe Enterprises Retail Fixtures, Mayasheel Ventures.

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