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SMEIPO2025

Urban Company IPO 2025: Subscription Buzz and Profit Milestone
IPO research, Market News - June 21, 2025

Icon Facilitators IPO Launches June 24 with Price Band of ₹85–91

Icon Facilitators IPO Launches June 24 with Price Band of ₹85–91

Through its SME public offering, Icon Facilitators seeks to secure ₹19.11 crore in capital, with a primary focus on strengthening its working capital base and advancing long-term business growth plans.

Icon Facilitators IPO Set to Open on June 24

Icon Facilitators Ltd., a leading name in technical facilities management, is preparing to make its debut on the capital markets with an upcoming SME initial public offering (IPO). The company has officially announced a price range of ₹85 to ₹91 per equity share for the IPO, which is slated to open for public subscription on June 24, 2025. The offering will close just two days later on June 26, 2025, offering investors a brief but critical window to participate.

The IPO will be listed on the BSE SME platform, marking Icon Facilitators’ entry into the public domain and aiming to bolster its operational and financial capabilities through the funds raised.

Key Details of the IPO

As part of its forthcoming IPO, Icon Facilitators intends to generate ₹19.11 crore by issuing 21 lakh fresh equity shares to the public. The IPO opens for anchor investor bidding a day earlier, on June 23, 2025, reflecting growing interest from institutional players in small and mid-sized enterprises.

According to the company’s red herring prospectus (RHP), the bulk of the proceeds—approximately ₹16 crore—will be channeled towards working capital requirements, a move intended to support day-to-day operational liquidity. The remainder will be earmarked for general corporate purposes, such as business expansion, technology upgrades, and administrative needs.

Business Overview: Technical Facilities Expertise

Icon Facilitators is a specialized service provider in the domain of technical facilities management, delivering a comprehensive suite of services across various verticals. Its core competencies include:

• Electrical infrastructure solutions
• Captive power system management
• Water treatment services
• Building automation and management
• Fire and safety system maintenance
• Supervision and servicing of elevator and moving staircase infrastructure

This wide-ranging portfolio enables the company to cater to both industrial and commercial clients seeking turnkey solutions for complex infrastructure and utilities management.

Human Capital and Technical Strength

As of March 31, 2025, Icon Facilitators employed a workforce of over 2,000 individuals, many of whom possess specialized technical knowledge and hands-on experience in diverse areas of the facilities management sector. The company places significant emphasis on domain expertise, which has contributed to its ability to deliver high-quality, reliable, and efficient services across its client base.

Financial Performance Snapshot

Icon Facilitators has demonstrated robust financial growth in recent years, reflecting operational strength and increasing market demand. In FY25, the company posted a revenue from operations of ₹58.06 crore, a healthy increase from ₹49.84 crore in FY24. Profit after tax (PAT) saw a notable jump as well, rising from ₹1.76 crore in FY24 to ₹4.47 crore in FY25—a clear indicator of improved efficiency and profitability.

The financial momentum places the company on strong footing as it steps into the public market, with investors likely to take note of the upward earnings trajectory.

Management of the Issue

While no specific analysts or financial firms are highlighted, the IPO process is being professionally managed. A dedicated book-running lead manager is overseeing the issue’s execution, ensuring regulatory compliance and a smooth subscription process. The appointed registrar is handling investor applications, allotments, and post-issue formalities on behalf of the company.

Strategic Objectives Behind the IPO

The upcoming IPO is a strategic move by Icon Facilitators to secure long-term growth capital. By directing a major portion of the funds towards working capital, the company aims to streamline operations, enhance service delivery, and expand its client base. The remainder of the proceeds will empower the firm to maintain financial agility and invest in future growth areas as market conditions evolve.

This step also reflects the company’s commitment to greater transparency, governance, and value creation as it transitions into a listed entity.

Final Thoughts

Icon Facilitators Ltd. is entering a new growth phase with its IPO opening on June 24, offering shares in the ₹85–91 price band. With a focus on raising over ₹19 crore, the company aims to reinforce its working capital base while laying the groundwork for future expansion.

Its strong financial performance, diversified service offerings, and technically skilled workforce create a solid foundation for investor confidence. For market participants seeking exposure to the facilities management sector within the SME space, this IPO could represent a promising opportunity.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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IPO research, Market News - June 21, 2025

Aakaar Medical IPO Sees 37% Day 1 Subscription Backed by Strong NII Demand

Aakaar Medical IPO Sees 37% Day 1 Subscription Backed by Strong NII Demand

Aakaar Medical Technologies’ ₹27 crore IPO garners investor traction on opening day, led by non-institutional and QIB participation; listing set for June 27.

Aakaar Medical Technologies Makes Modest Debut in IPO Arena

On June 20, Aakaar Medical Technologies, headquartered in Mumbai, opened its SME IPO with the objective of securing ₹27 crore via the issuance of entirely new equity shares. On the very first day of the offering, the IPO saw a subscription of 37%, with most of the demand coming from non-institutional investors (NIIs) and qualified institutional buyers (QIBs).

Despite being early in the subscription window, this level of response suggests growing investor interest in emerging healthcare equipment players, particularly those in the B2B space like Aakaar.

IPO Details: Price Band, Lot Size, and Minimum Investment

The IPO is a book-built issue with a price range set between ₹68 and ₹72 per share. The minimum lot size is 1,600 shares, translating into a base investment requirement of ₹1,08,800. Investors can scale up to a maximum of ₹1,15,200 per application, depending on the upper end of the price band.

This offering is fully composed of a fresh equity issue, with no existing shareholders offloading their stakes through an offer-for-sale (OFS). The capital raised will go toward business expansion and operational growth.

Segment-Wise Subscription Breakdown: NII and QIB Segments Lead

On Day 1, the IPO recorded an overall subscription of 37%. The non-institutional investor category led the charge with a 59% subscription rate, while qualified institutional buyers followed with a 33% subscription.

Retail investors, typically a strong base for SME IPOs, contributed a more cautious 30% to the total subscriptions. The early trend suggests that larger investors are more confident in Aakaar’s business model and long-term potential.

Share Allotment, Listing Date, and Exchange Details

The IPO window remains open for bidding until June 24. Share allotment is expected to be finalized by June 25, and successful applicants can anticipate share credits shortly thereafter.

Aakaar Medical Technologies’ shares are scheduled to debut on the NSE Emerge platform on June 27. NSE Emerge is known for offering a gateway for SMEs to access capital markets and improve business visibility.

Company Overview: What Does Aakaar Medical Technologies Do?

Aakaar Medical Technologies is involved in the design and manufacturing of medical-grade devices and products. The firm primarily functions within the business-to-business (B2B) space, delivering its medical equipment to healthcare providers such as hospitals, clinics, and other medical facilities.

Headquartered in Mumbai, Aakaar focuses on innovation-driven products tailored for diagnostic and therapeutic applications. Its strength lies in product development and scalable manufacturing—both key drivers in India’s expanding healthcare infrastructure.

Market Potential and Investor Sentiment

India’s medical device sector is undergoing rapid transformation, spurred by the government’s emphasis on domestic manufacturing and healthcare access. In this evolving landscape, companies like Aakaar are strategically positioned to benefit from rising demand for affordable and high-quality equipment.

The IPO’s initial response, particularly from NIIs and institutional buyers, reflects a belief in Aakaar’s ability to capitalize on sectoral growth. Though retail investors showed relatively limited enthusiasm on Day 1, subscription trends could strengthen in the following days as broader awareness builds.

Why This IPO Matters for Investors

For investors looking to tap into India’s growing healthcare manufacturing sector, Aakaar Medical Technologies offers a fresh opportunity. The firm’s SME IPO format comes with its own set of risks and volatility, but also the potential for high returns if the business scales effectively post-listing.

Its choice to list on NSE Emerge allows the company to maintain compliance standards while gaining exposure to a broader investor base. The absence of an OFS component also sends a positive signal, suggesting promoters are focused on growth rather than short-term exits.

Final Thoughts

Aakaar Medical Technologies has made a moderately strong entrance into the capital market with a 37% IPO subscription on Day 1. Interest was primarily fueled by non-institutional and institutional investors, indicating a degree of trust in the company’s fundamentals and industry prospects.

As the IPO approaches its closing date on June 24 and prepares for listing on June 27, investor focus is expected to pivot toward share allotment results and the company’s performance after it hits the market. As the Indian medical devices sector expands, Aakaar’s journey from an SME player to a publicly listed entity will be closely watched by market participants.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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The image added is for representation purposes only

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