Icon Facilitators IPO is a book-built issue worth ₹18.15 crore. The IPO consists entirely of a fresh issue of 19.94 lakh equity shares. The IPO opens for subscription on June 24, 2025, and closes on June 26, 2025. The allotment is expected to be finalised on June 27, 2025, with tentative listing on BSE SME scheduled for July 1, 2025.
The IPO is priced in a band of ₹85 – ₹91 per share. Retail investors must apply for a minimum of 1 lot comprising 1200 shares, requiring an investment of ₹1,09,200 at the cutoff price. HNI investors must apply for a minimum of 2 lots (2400 shares), amounting to ₹2,18,400.
Khambatta Securities Limited is the book-running lead manager to the issue, and Maashitla Securities Private Limited is the registrar. The market maker for Icon Facilitators IPO is Nikunj Stock Brokers Limited.
For detailed information on company financials, business operations, and associated risks, investors are advised to refer to the Icon Facilitators IPO RHP.
Industry Outlook
- India’s Integrated Facility Management (IFM) sector is poised for robust and sustained expansion, underpinned by infrastructure modernisation, digitisation, and a strategic shift towards integrated outsourcing models across both public and private domains. According to Mordor Intelligence (April 2024), the Indian facility management market is projected to grow at a healthy compound annual growth rate (CAGR) of 10–12% during FY2025–26.
- This growth is being driven by increasing adoption of bundled IFM contracts across sectors such as IT/ITES, banking and financial services, healthcare, education, and industrial manufacturing. Clients are seeking to reduce vendor complexity and enhance service accountability through comprehensive service agreements.
- Government initiatives such as the Smart Cities Mission, PM Gati Shakti, and the Urban Rejuvenation Scheme are opening up significant opportunities for facility management providers in public infrastructure, logistics parks, transport hubs, and government buildings. Sustainability and ESG goals are also becoming central to contract decisions, with rising demand for energy-efficient buildings, LEED-compliant operations, and advanced waste and water management systems.
- The sector is undergoing a transformation towards technology-led, compliance-driven, and sustainability-aligned operations. Service providers offering value-added solutions such as green audits, net-zero transition support, and digital ESG reporting tools are expected to gain greater traction.
Icon Facilitators IPO Objectives
The company proposes to utilise the net proceeds from the IPO for the following objectives:
- Expand its operational capacity by strengthening working capital reserves to support the company’s growing portfolio of facility management contracts. This includes funding employee benefit expenses, statutory dues, and other operational outlays associated with servicing new and existing client sites across India.
- Enhance financial flexibility to pursue new business opportunities, particularly in government and large-scale infrastructure projects, which typically involve extended receivable cycles and require upfront resource deployment.
- Support general corporate purposes, including administrative overheads, brand development, and strategic initiatives aimed at reinforcing the company’s market presence, operational resilience, and long-term sustainability.
- Improve corporate visibility and governance standards through public listing on the BSE SME platform, thereby fostering investor confidence, enhancing access to capital markets, and enabling future growth through strategic partnerships and collaborations.
About Icon Facilitators Limited
Icon Facilitators Limited was originally incorporated as Icon Facilitators Private Limited on 20 September 2013 under the Companies Act, 1956. It was subsequently converted into a public limited company and renamed Icon Facilitators Limited on 5 June 2024.
The company is engaged in providing a comprehensive suite of technical facility management services. These include electrical system operations, captive power management, HVAC maintenance, water treatment (STP/ETP), fire and safety equipment servicing, elevator and escalator maintenance, and annual maintenance contracts for electromechanical systems. Its services cater to commercial, retail, industrial, and residential clients.
Icon Facilitators operates primarily in North India, with a strong presence in Delhi, Haryana, Uttar Pradesh, Punjab, Rajasthan, and Himachal Pradesh. The company has built a reputation for delivering reliable, quality-driven services and maintains long-standing relationships with several prestigious clients.
The company’s growth strategy is centred on expanding its geographic footprint, enhancing operational efficiency, and leveraging technology to deliver scalable and compliant facility management solutions. With a workforce of over 1,950 employees deployed across 130 sites, Icon Facilitators is well-positioned to capitalise on the increasing demand for integrated facility services in India’s rapidly evolving infrastructure landscape.
How To Check the Allotment Status of the Icon Facilitators IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
How To Apply for Icon Facilitators IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Icon Facilitators IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
Contact Details of Icon Facilitators IPO
Registered office: C–28, 2nd Floor, Community Centre, Janakpuri, South West Delhi, New Delhi – 110058, India.
Phone: +91 96259 30130
E-mail: cs@iconf.in
Icon Facilitators IPO Reservation
|
Investor Category |
Shares Offered |
|
Market Maker Shares Offered |
1,05,600 (5.28%) |
|
QIB Shares Offered |
1,00,800 (5.04%) |
|
NII (HNI) Shares Offered |
9,46,800 (47.36%) |
|
Retail Shares Offered |
9,46,800 (47.36%) |
|
Total Shares Offered |
19,99,200 (100.00%) |
Icon Facilitators IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
1200 |
₹1,09,200 |
|
Retail (Max) |
1 |
1200 |
₹1,09,200 |
|
HNI (Min) |
2 |
2400 |
₹2,18,400 |
Icon Facilitators IPO Promoter Holding
The promoters of the company are Mr. Dinesh Makhija and Ms. Pooja Makhija.
|
Share Holding Pre-Issue |
95.65% |
|
Share Holding Post Issue |
70.09% |
Key Performance Indicators for Icon Facilitators IPO
The market capitalisation of Icon Facilitators IPO is ₹71.52 crore. Here are the KPIs of Icon Facilitators:
|
KPI |
Value |
|
EBITDA Margin (%) |
11.28 |
|
PAT Margin (%) |
7.70 |
|
Return on Equity (ROE) (%) |
35.23 |
|
Return on Capital Employed (RoCE) (%) |
37.09 |
Icon Facilitators IPO Prospectus
Icon Facilitators IPO Registrar and Lead Managers
Icon Facilitators IPO Lead Managers
- Khambatta Securities Limited
Registrar for Icon Facilitators IPO
Maashitla Securities Private Limited
- Contact Number: +91-11-45121795
- Email Address: ipo@maashitla.com
Icon Facilitators IPO Registrar
Financial Performance of Icon Facilitators Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|---|
| Revenue from Operations (₹ Lakh) | 5,806.39 | 4,984.21 | 4,296.30 |
| Total Income (₹ Lakh) | 5,806.55 | 4,984.82 | 4,296.30 |
| EBITDA Margin (%) | 11.28 | 5.81 | 7.25 |
| PAT Margin (%) | 7.70 | 3.54 | 4.48 |
| Return on Capital Employed (ROCE) (%) | 37.09 | 33.46 | 37.95 |
| Return on Equity (ROE) (%) | 35.23 | 29.42 | 45.94 |
| Debt-to-Equity Ratio (times) | 0.35 | 0.42 | 0.89 |
Know before investing
Strengths
8Over a decade of operational experience in technical facility management across diverse sectors.
Strong presence in North India with operations across Delhi, Haryana, Uttar Pradesh, Punjab, Rajasthan, and Himachal Pradesh.
Offers a wide range of technical services including HVAC, electrical systems, water treatment, and fire safety.
Long-standing relationships with reputed commercial and institutional clients, contributing to recurring revenue.
Over 1,950 employees deployed across 130 sites, enabling rapid expansion and service delivery.
Revenue from operations grew 16.5% in FY 2025, with PAT margin improving to 7.7%.
Entry into government contracts opens avenues for large-scale, long-term engagements.
Funds raised will strengthen working capital, enabling the company to take on more projects and scale operations.
Risks
8Heavy reliance on North India for revenue exposes the company to geographic and policy risks.
Top 5 clients contribute over 70% of revenue, posing a risk if any major contract is lost.
Past delays in GST and PF filings may attract penalties and impact compliance reputation.
Over 94% of total expenses are employee-related, making profitability sensitive to wage inflation.
Long payment cycles and rising trade receivables may strain cash flows and working capital.
Absence of soft services and pan-India presence may limit competitiveness against integrated FM players.
Dependence on third-party agencies for employee verification and IT systems may pose operational risks.
Company’s logo trademark application is objected, which may affect brand protection and identity.
Icon Facilitators Limited Peer Details Comparison
| Particulars | Total Income (₹ Lakh) | Face Value (₹) | EPS Basic (₹) | NAV per Share (₹) |
|---|---|---|---|---|
| Icon Facilitators Limited | 5,806.55 | 10.00 | 7.91 | 22.47 |
| Updater Services Limited | 2,77,173.00 | 10.00 | 17.74 | 144.07 |
| Krystal Integrated Services Limited | 1,22,927.70 | 10.00 | 44.61 | 312.92 |
| Rithwik Facility Management Services Limited | 4,272.09 | 10.00 | 11.44 | 77.98 |
