Icon Facilitators IPO - Day 3 Subscription at 2.49 Times

Icon Facilitators' initial public offering (IPO) has demonstrated moderate investor demand through its third day of subscription, with Icon Facilitators' stock price set at ₹91 per share and Icon Facilitators' share price reflecting mixed market reception. The ₹19.11 crore IPO has witnessed steady progress, with subscription rates opening at 0.68 times on day one, improving to 0.90 times on day two, and reaching 2.49 times by 5:04:39 PM on day three, indicating growing investor interest in this facilities management company incorporated in 2002.

Icon Facilitators IPO retail investors segment leads with a good 4.10 times subscription, while qualified institutional buyers demonstrate moderate participation at 2.18 times, and non-institutional investors show below-threshold interest at 0.92 times, reflecting mixed investor confidence in this company with diversified facilities management portfolio, including electrical system management operations.

Icon Facilitators IPO subscription reached a moderate 2.49 times on day three, led by Retail (4.10x), QIB (2.18x), with NII undersubscribed (0.92x). Total applications reached 4,589.

Subscription Status of Icon Facilitators IPO:

Here are the subscription details for the Icon Facilitators IPO as of Day 3 (June 26, 2025, 5:04:39 PM):

Key Highlights - Day 3:

• Overall subscription reaching a moderate 2.49 times, steady improvement from day two's 0.90 times
• Retail segment leading with good demand at 4.10 times, a significant increase from day two's 1.43 times
• QIB segment demonstrating moderate participation at 2.18 times, improvement from day two's 1.10 times
• NII segment showing below-threshold interest at 0.92 times, an increase from day two's 0.35 times, but remaining undersubscribed
• Retail-driven performance with institutional participation remaining moderate
• Total applications reached 4,589, indicating moderate investor participation for this SME IPO
• The cumulative bid amount reached ₹45.21 crores against the issue size of ₹19.11 crores

Icon Facilitators IPO - Day 2 Subscription at 0.90 Times

Key Highlights - Day 2:

• Overall subscription improving to 0.90 times from day one's 0.68 times
• Retail segment showing building momentum at 1.43 times, an increase from day one's 0.91 times
• QIB segment maintains steady interest at 1.10 times, unchanged from day one
• NII segment showing declining interest at 0.35 times, a decrease from day one's 0.41 times
• Day two demonstrated mixed progress with retail interest building while NII participation declined

Icon Facilitators IPO - Day 1 Subscription at 0.68 Times

Key Highlights - Day 1:

• Overall subscription opening cautiously at 0.68 times, showing modest initial investor interest
• QIB segment leading early participation at 1.10 times, indicating positive institutional sentiment
• Retail segment showing moderate early interest at 0.91 times, reflecting measured individual investor confidence
• NII segment demonstrating limited participation at 0.41 times, indicating cautious high-net-worth confidence
• Opening day demonstrated cautious initial engagement across all categories
   

About Icon Facilitators Limited

Incorporated in 2002, Icon Facilitators Limited (IFL) is a facilities management company offering integrated technical services across India. The company provides a comprehensive range of services, including electrical system management, HVAC operations, water treatment, fire and safety equipment maintenance, and more. The company offers integrated facilities management, covering soft services like housekeeping and pest control, and hard services like HVAC, electrical management, fire safety, and building operations.

The company operates mainly in Northern India with 127 sites, recently expanding to Bengaluru for growth. Mr. Basil Arun Keelor leads South India operations to strengthen the company's presence. Products include electrical system management operations, captive power diesel generation management, STP/ETP and water management services, and HVAC management. As of May 15, 2025, the company has 1,955 employees on roll.

Financial performance shows strong growth with revenue increasing 16% from ₹49.85 crores in FY2024 to ₹58.07 crores in FY2025, while profit after tax surged 154% from ₹1.76 crores to ₹4.47 crores during the same period. The company maintains strong profitability metrics with 35.23% ROE, 7.70% PAT margin, 11.28% EBITDA margin, operates with a moderate debt-to-equity ratio of 0.35, and has a market capitalisation of ₹71.52 crores. Post-IPO P/E ratio of 16.00x appears reasonable for a facilities management company, though concerns exist about the sustainability of recent growth and competitive positioning.