Icon Facilitators IPO: Price, Allotment, And GMP

Icon Facilitators IPO- Complete Overview

Icon Facilitators IPO under the SME IPO category is a bookbuild issue of Rs. 19.11 Cr by Icon Facilitators Limited. It was established in 2002 and is a facilities management company that provides integrated technical services throughout India.

The business offers a wide range of services, such as water treatment, fire and safety equipment maintenance, HVAC operations, electrical system management, and more.

The business provides Integrated Facilities Management, which includes hard services like HVAC, electricity management, fire safety, and building operations, as well as soft services like housekeeping and pest control.

With 127 locations, the company mostly operates in Northern India; it has lately expanded to Bengaluru for growth. 

Products:

•  Operations of Electrical System Management

•  Power in Captivity Management of Diesel Generation

•  Water Management Services and STP/ETP

•  Control of HVAC.

 

Icon Facilitators IPO Overview

The Icon Facilitators IPO date is on 24 June 2025, and its initial public offering will end on 26 June 2025. 

The Rs. 19.11 crore new SME IPO comprises a wholly fresh issue of 21 lac Shares. The Icon Facilitators IPO price is Rs. 85 to Rs. 91 for each Share. 

The Icon Facilitators IPO listing date (expected) is Tuesday, Jul 01, 2025, and listing at the BSE and SME.

Click to open demat account and apply for the IPO.

 

 

Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	23.95	17.66	14.93
Total Revenue	58.07	49.85	42.96
PAT	4.47	1.76	1.92
Net Worth	12.69	5.95	4.19
Reserves & Surplus	6.93	5.94	4.18
Borrowings	-	-	-

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(282.06)	436.75	(40.99)
Net Cash Flow Investing Activities	(43)	(42.91)	(15.60)
Net Cash Flow Financing Activities	288.90	(160.49)	74.38

 

Revenue Bifurcation

Customer-wise Revenue Bifurcation

(Amount in lac)

State-wise Revenue Bifurcation

(Amount in lac)

(Source: RHP)

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Financing the company's working capital needs.

• General corporate purposes.

 

Click to check the IPO application status.

Peers of Icon Facilitators Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Updater Services Limited	10	17.74	17.73
Krystal Integrated Services Limited	10	44.61	13.85
Rithwik Facility Management Services Ltd.	10	11.44	14.23

 

 

Evaluation

The Icon Facilitators Limited IPO price is Rs. 85 to Rs. 91 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2025 with an EPS of Rs. 7.91 from the last year, the resulting P/E ratio is 11.50x.

Considering the weighted EPS of Rs. 5.60 for the last three years, the P/E ratio is 16.25x.

Explore Abram Food IPO.

 

IPO's Strengths

• One of the strongest players in North India with the largest and Premium Portfolios under one belt.

• Diverse base of clients with longstanding relationships.

• Quality-oriented delivery of services.

• Experienced Promoter supported by a dedicated management team and employee base.

• Historical track record of strong financial performance, with a scalable, agile, and efficient business.

 

IPO’s Weaknesses

• Most of the Independent Directors of the company do not have any direct qualification or experience in the facility management sector. This gap may lead to some loose corporate governance, and hence, underlying decisions might affect business operations.

• The said company faces "Objection" trademark filings by the Registrar of Trademarks. Failure to address such objections would lead the company to either abandon or modify the logo itself.

• The company is facing severe competition from large multinational corporations selling integrated facility management services and unorganized local operators who may offer a slightly lower price; thus, the share of Icon Facilitators and profitability might be affected.

 

Icon Facilitators IPO GMP

Icon Facilitators IPO GMP is Rs. 8 as of 23 Jun 2025 while writing this information. Hence, its expected listing price is Rs. 99.

IPO Timetable (Tentative)

The Icon IPO date of opening is from Jun 24 to Jun 26, 2025, allotment on Jun 27, refund initiation on Jun 30, and listing on Jul 01, 2025.

Events	Date
IPO Opening Date	Jun 24, 2025
IPO Closing Date	Jun 26, 2025
IPO Allotment Date	Jun 27, 2025
Refund Initiation	Jun 30, 2025
IPO Listing Date	Jul 01, 2025

 

Icon Facilitators IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 21,00,000 Shares (Rs. 19.11 Cr) with a market maker portion of 1,05,600 Shares (Rs. 0.96 Cr).

IPO Opening & Closing Date	24 Jun, 2025 to 26 Jun, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 85 to Rs. 91 per Share.
Lot Size	1200 Shares
Issue Size	21,00,000 Shares (Rs. 19.11 Cr)
Offer for Sale	-
Fresh Issue	21,00,000 Shares (Rs. 19.11 Cr)
Listing at	BSE, SME
Issue Type	Book Built Issue
Registrar	Maashitla Securities Private Limited

 

 

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (1200 Shares) amounting to Rs. 1,09,200 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (2400 Shares) amounting to Rs. 2,18,400.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

IPO Reservation (% of Net Issue)

Institutional’s Portion	4.80%
Retail’s Portion	45.09%
Non-Institutional Portion	45.09%

 

Promoters And Management of Icon Facilitators Ltd.

• Mr. Dinesh Makhija

• Ms. Pooja Makhija.

Pre-Issue Promoter Shareholding	95.65%
Post-Issue Promoter Shareholding	70.09%

 

IPO Lead Managers

• Khambatta Securities Limited.

 

 

Dividend Policy

The company has not adopted a dividend policy yet.

 

Conclusion

An opportunity to invest in the Icon Facilitators IPO would mean investing in a fairly established and growing player in the integrated facility management sector, with its stronger presence in Northern India. Given the reasonable price-to-earnings ratio of 11.50x based on earnings estimated for FY25, healthy revenue growth, expanding geographical presence, and diversified client base, there is a need to consider its risks associated with it.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.