2 weeks Ago
Icon Facilitators (IFL), the leading technical facilities management services provider in North India, has filed its draft red herring prospectus (DRHP) with the BSE SME for an IPO. The company’s initial public offering comprises a fresh issuance of 21,00,000 equity shares, each with a face value of Rs 10. According to DRHP, IFL intends to utilise Rs 16 crores of the total IPO proceeds towards working capital requirements including margin money, and the remaining capital will be used for general corporate purposes.
The company provides technical facilities management services, such as Electrical System Management Operation, Captive Power Management, STP/ETP and Water Treatment, HVAC Management, Building Management System (BMS), Fire & Safety Equipment, Elevators Escalators Operations & Maintenance and Annual Maintenance contract of E & M Equipment. Having a major presence in Haryana, Uttar Pradesh and Delhi with 72, 37 and 18 sites, respectively, the company also has a presence in other regions, including Rajasthan, with 5 sites, Punjab, and Himachal Pradesh, with 1 site each. IFL has recently opened a new office in Bengaluru as part of its strategic expansion into the southern region of the country and anticipates significant business growth in the region.
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The company has served at 128, 131 and 107 sites, in the fiscal year 2024, 2023 and 2022, respectively. The company serves reputed clients, such as ISGEC Heavy Engineering Limited, Maruti Suzuki and Abott in industrial space and Vegas Mall, Omaxe Chandni Chowk, Gulshan one29, Eros Metro Mall and East Delhi Mall in commercial space and serves top real estate companies DLF Camellias and Tata Housing in residential space. IFL also looks after the maintenance of Bharat Mandapam, an iconic building dedicated to promote international trade.
It also serves corporates such as Macquarie, Deloitte, HCL, CBRE and JLL. Icon Facilitators has recorded Rs 49.84 crore in revenue from operations with a profit (PAT) of Rs 1.
76 crore in the fiscal year 2024, compared with Rs 42.96 crore and a profit (PAT) of Rs 1.92 crore in FY23.
IFL is promoted by a mechanical engineer turned entrepreneur, Dinesh Makhija . With over 25 years of experience in the technical facility management industry. The company employs over 1800 people, many of them with significant technical backgrounds and domain expertise in each of the industry verticals.
Khambatta Securities Limited is the sole book running lead manager to the issue, and Maashitla Securities Private Limited is the registrar. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
