New Delhi: Icon Facilitators, a provider of technical facilities management services, revealed itself intention to conduct an initial public offering to raise funds for expanding its operations. The company aims to achieve a revenue of Rs 100 crore by FY27. Khambatta Securities Limited has been selected as the book-running lead manager to supervise the IPO process, according to a statement from the company. As per the announcement, the company has set a goal to reach an impressive Rs 100 crore in revenue by the fiscal year 2027. In FY24, it recorded revenue of Rs 49.84 crore from operations, compared to Rs 42.96 crore in FY23.
In order to back this ambitious growth plan, Icon Facilitators Ltd (IFL) is currently considering a potential initial public offering (IPO). It was stated that the company will receive the required funds from the IPO to grow its customer network, bolster its reach throughout India, and invest in advanced technologies to improve its services. Dinesh Makhija, the Managing Director of IFL, stated that they intend to enhance their services for both current and new clients by broadening their expertise and capabilities.
He mentioned that we plan to raise funds through an IPO to achieve the expected growth, and we are confident about reaching Rs 100 crore in revenues by FY27.
IFL offers various technical services for facilities management, including managing electrical systems, captive power, STP/ETP and water treatment, HVAC, building management systems (BMS), fire and safety equipment, elevators and escalators, as well as the annual maintenance contract for E & M equipment. The company operates in Haryana, Uttar Pradesh, and Delhi, with 72, 37, and 18 locations, respectively. It can also be found in different areas, such as Rajasthan with 5 locations, and one location each in Punjab and Himachal Pradesh.
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