Icon Facilitators IPO

About Icon Facilitators IPO

The IPO of Icon Facilitators Ltd comprises a fresh issue of up to 21,00,000 equity shares. There’s no offer for sale in this IPO, which is a 100% book-built issue. The price band of the IPO is between ₹85 and ₹91. The lot size is 1200.

The opening date of the IPO is June 24, 2025. The closing date is June 26, 2025. The allotment date is June 27, 2025. The credit of shares to the demat account will take place on June 30, 2025. The initiation of refunds will take place on June 30, 2025.

Objectives of Icon Facilitators IPO

• Working capital requirements
• General corporate purposes

Industry Outlook

The Indian Integrated Facility Management (IFM) industry is poised for strong and sustained growth, driven by increased infrastructure development, digitisation, and a strategic shift towards integrated outsourcing models across both public and private sectors.

According to Mordor Intelligence (April 2024), the Indian facility management market is expected to grow from USD 159.61 billion in 2025 to USD 227.75 billion by 2030, registering a CAGR of 7.37%. This growth trajectory is supported by the expansion of Grade A commercial real estate, increasing formalization of residential and retail asset classes, and the rising demand for professional services in Tier 2 and Tier 3 cities.

Company Information

Icon Facilitators Ltd is a focused and integrated business services platform in India offering technical facilities management services to its customers, primarily concentrated in North India presence. It’s engaged in the business of providing 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
• Annual Maintenance Contract of E&M Equipment

It provides a complete bouquet of solutions to all commercial, retail, industrial and residential clients.

Risks of Icon Facilitators IPO

• Concentration in North India

Icon Facilitators ltd has a strong presence in North India and primarily earns revenue from Northern States in India. Any decrease in revenues from North India, including due to increased competition or supply, or reduction in demand, in markets in which it operates, may have an adverse effect on its business, cash flows, results of operation and financial condition.

• Service-related Claims

The company has a large workforce deployed across workplaces and customer premises. Consequently, it may be exposed to service-related claims and losses or employee disruptions, as well as employee related regulatory risks, that could have an adverse effect on its reputation, business, cash flows, results of operations and financial condition.

• Dependence on Limited Number of Customers

The company’s revenue from operations is highly dependent upon a limited number of customers, with its largest, top 5 and top 10 customers contributing to more than 49.59%, 73.58% & 87.17%, respectively of its revenue from operations for Fiscal 2025.

IPO Registrar and Book Running Lead Manager

• IPO Registrar: Maashitla Securities Pvt Ltd
• Book Running Lead Manager: Khambatta Securities Ltd

Business Model

Icon Facilitators Ltd primarily provides Hard Services to industrial, commercial, retail, and residential clients on a B2B model. Typical facility management includes maintaining electrical systems, machinery, operating DG sets during outages, managing STP/ETP plants, and ensuring fire safety operations.

It delivers comprehensive technical facility management solutions under one roof, catering to the diverse needs of its clients. However, its role is limited to the operations and maintenance of facilities, and it’s not involved in the design or installation of machinery or systems.

Company Growth Trajectory

The revenue of operations of Icon Facilitators Ltd grew from ₹42.9630 crores in FY 23 to ₹58.0639 crores in FY 25. Its EBITDA margin grew from 7.25% in FY 23 to 11.28% in FY 25, while PAT margin increased from 4.48% in FY 23 to 7.70% in FY 25. The company’s area under management grew from 100 million per square feet in FY 23 to 120 million per square feet in FY 25.

The company believes its consistent growth is attributable to its scalable and agile business model. Its presence across 5 states and one union territory in India allows it to deploy new customer locations faster and efficiently.

Market Position

The operations of Icon Facilitators Ltd are mainly concentrated in the Northern part of India, having major presence in Haryana, Uttar Pradesh and Delhi with 68, 34 and 22 sites respectively in Fiscal 2025. The company also has a presence in other regions, including Rajasthan with 4 sites, Punjab, and Himachal Pradesh, with 1 site each.

The company opened a new office in Bengaluru on August 06, 2024, as part of its strategic expansion into the southern region of India. It anticipates business growth in this new geography and is eager to capitalise on the opportunities to expand its client base and strengthen its presence in the region.

How to Apply for the Icon Facilitators IPO?

1. Visit the Registrar’s Website

• Visit the official website of Maashitla Securities Pvt Ltd
• Click on ‘Public Issues’ under ‘Allotment Status’
• Select ‘Company Name’ and enter either your PAN, application number or Demat account number
• Click on ‘Submit’ to know the status

2. Check on the Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:

• Choose the Issue Type
• Select the Issue Name from dropdown
• Put in either your application number or PAN number
• Check the box ‘I’m not a robot’
• Click on ‘Search’ to know allotment status

How to Apply for the Icon Facilitators IPO?

• Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.