Delhi-based Icon Facilitators Limited secured in-principle approval from the BSE SME Exchange for its proposed initial public offering (IPO). The company plans to raise approximately Rs 22 crore through a fresh issue of 21,00,000 equity shares with a face value of Rs 10 each through the book-building route. Following its Draft Red Herring Prospectus (DRHP) submission in September 2024, Icon Facilitators is now finalising its Red Herring Prospectus (RHP) with updated details and expects to list on the exchange shortly. Khambatta Securities Limited acts as the Book Running Lead Manager for the IPO, while Maashitla Securities Private Limited serves as the Registrar.
According to the DRHP, the IPO proceeds will primarily address working capital requirements, with Rs 16 crore allocated for margin money and operational needs, while the remaining funds will support general corporate initiatives.
Icon Facilitators operates across industrial, commercial, and residential sectors, offering specialised services such as Electrical System Management, Captive Power Management, STP/ETP (Sewage Treatment Plant/Effluent Treatment Plant) and Water Treatment, HVAC (Heating, Ventilation, and Air Conditioning) Management, Building Management Systems (BMS), Fire & Safety Equipment maintenance, and Annual Maintenance Contracts for electromechanical equipment.
Geographically, the company has a strong foothold in North India, managing 72 sites in Haryana, 37 in Uttar Pradesh, and 18 in Delhi. It also operates in Rajasthan, Punjab, and Himachal Pradesh. To bolster its national presence, Icon Facilitators recently inaugurated an office in Bengaluru to capture growth opportunities in southern markets.
Icon Facilitators reported Rs 49.84 crore in revenue from operations for FY24, up from Rs 42.96 crore in FY23. However, profit after tax (PAT) dipped slightly to Rs 1.76 crore in FY24 compared to Rs 1.92 crore in the previous fiscal year. The company attributes this fluctuation to strategic investments in infrastructure and workforce expansion.
Icon Facilitators serves a diverse portfolio of clients, including industrial giants like ISGEC Heavy Engineering, Maruti Suzuki, and Abbott, etc. commercial entities such as Vegas Mall, Omaxe Chandni Chowk, Eros Metro Mall, East Delhi Mall, etc. and residential developers DLF Camellias and Tata Housing. Notably, the firm manages maintenance for Bharat Mandapam, a premier venue for international trade promotion, and caters to corporates like Macquarie, Deloitte, and HCL.
