Icon Facilitators Limited (IFL) is a facilities management company offering a wide range of integrated technical and support services across India.
The company specializes in technical facility management operations, including:
- ⚡ Electrical System Management
- 🔋 Captive Power Diesel Generation Management
- 💧 STP/ETP and Water Management
- ❄️ HVAC Management
- 🏢 Building Management Systems (BMS)
- 🔥 Fire and Safety Equipment Operations
- 🛗 Elevator and Escalator Maintenance
- 🛠️ Annual Maintenance Contracts (AMC) for E&M Equipment
🔄 Integrated Facility Management
IFL delivers both soft services (like housekeeping and pest control) and hard services (such as HVAC, electrical, and mechanical system management) under a unified operational structure.
📍 Geographic Presence
The company primarily operates in Northern India, with service sites in Delhi, Haryana, Uttar Pradesh, Punjab, Himachal Pradesh, and Rajasthan. It has recently expanded to Bengaluru, where operations are led by Mr. Basil Arun Keelor to strengthen its presence in southern India.
🤝 Client Base
IFL serves commercial, retail, industrial, and residential clients, managing services across 127 active sites.
👥 Workforce
As of May 15, 2025, the company employs 1,955 people across India, supporting its pan-India service capabilities.
Icon Facilitators IPO – Details
| IPO Opening Date | 24 June 2025 |
| IPO Closing Date | 26 June 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 19,94,400 Shares Worth ₹18.15 Crore Fresh Issue: 19,94,400 Shares Worth ₹18.15 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹85 – ₹91 per share |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares (1 Lot) |
| Listing At | BSE SME |
| Registrar | Maashitla Securities Private Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Icon Facilitators IPO – Date Schedule
| IPO Open Date | 24 June 2025 |
| IPO Close Date | 26 June 2025 |
| Basis of Allotment | 27 June 2025 |
| Initiation of Refund | 30 June 2025 |
| Credit of Shares to Demat | 30 June 2025 |
| IPO Listing Date | 01 July 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 26, 2025 |
Icon Facilitators IPO – Lots Size & Price
| 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 |
Competitive Strengths
- One of the strongest players in North India with largest and Premium Portfolios under one belt.
- Diverse base of clients with longstanding relationships.
- Quality oriented delivery of services.
- Experienced Promoter supported by a dedicated management team and employee base.
- Historical track-record of strong financial performance, with a scalable, agile and efficient business model.
Company Promoters
- Mr. Dinesh Makhija
- Ms. Pooja Makhija
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | 42.96 | 40.30 | 1.92 | – |
| 31 March 2024 | 49.85 | 47.47 | 1.76 | – |
| 31 March 2025 | 58.07 | 52.04 | 4.47 | – |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 35.23% |
| ROCE | 37.09% |
| RoNW | 35.23% |
| Debt/Equity | 0.35 |
| PAT Margin | 7.70% |
| EBITDA Margin | 11.28% |
| Net Asset Value per Share | ₹52.11 |
| EPS (Basic & Diluted) | ₹7.91 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.91 | 6.51 |
| P/E (x) | 7.68 | 8.32 |
Object Of The Issue
| S.No. | Objects of the Issue | Expected Amount (in Crore) |
|---|---|---|
| 1 | Working Capital Requirement of our Company | 16.00 |
| 2 | General Corporate Purposes | To be finalized |
Icon Facilitators IPO Peer Comparison
| S. No. | Face Value | Company Name | P/E |
|---|---|---|---|
| 1 | 10 | Updater Services Limited | 17.73 |
| 2 | 10 | Krystal Integrated Services Limited | 13.85 |
| 3 | 10 | Rithwik Facility Management Services Limited | 14.23 |
Strengths
- Specialized focus on hard technical services such as electrical, HVAC, water treatment, BMS, and AMC operations.
- Strong regional dominance in Northern India with active expansion into Tier 2 and Tier 3 cities.
- Agile operational model with responsive client service, enabled by a mid-sized team structure.
- High client retention across commercial, residential, and industrial segments with long-term contracts.
- Lean and cost-efficient operating model supports competitiveness in pricing and service delivery.
- Positioned between unorganized players and large MNCs, providing customized technical FM solutions.
Risks
- Absence of soft service offerings (e.g., housekeeping, pest control) limits participation in full-scope IFM contracts.
- Geographic concentration restricts national-level scalability and client acquisition.
- Limited brand visibility and marketing presence beyond established regions.
- Moderate adoption of advanced digital tools (CAFM, IoT) compared to global peers may hinder tech-driven efficiency.
- Exposure to intense competition from MNCs offering bundled services and pricing pressures from unorganized players.
- Labour-intensive operations pose risks related to manpower retention, statutory compliance, and wage inflation.
- Changes in government regulations, safety standards, or ESG norms could increase compliance burdens and operational costs.
Icon Facilitators IPO Promoter Holding
| Pre Issue Share Holding | 95.65% |
| Post Issue Share Holding | 70.09% |
Icon Facilitators IPO Prospectus
Company Contact Information
| Icon Facilitators Limited C-28, 2nd Floor Community Centre, Janakpuri New Delhi, New Delhi, 110058 Phone: +91-9625930130 Email: cs@iconf.in Website: http://www.iconf.in/ |
Icon Facilitators IPO Registrar
| Maashitla Securities Private Limited Phone: +91-11-45121795-96 Email: ipo@maashitla.com Website: https://maashitla.com/allotment-status/public-issues |
Icon Facilitators IPO Lead Manager(s)
| 1. Khambatta Securities Limited |
Icon Facilitators IPO FAQ
| What is Icon Facilitators IPO? Icon Facilitators IPO is a SME IPO. The issue is priced at ₹85 to ₹91 per equity share. The IPO is to be listed on BSE SME. |
| When Icon Facilitators IPO will open? The IPO is to open on 24 June 2025 for QIB, NII, and Retail Investors. |
| What is Icon Facilitators IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Icon Facilitators IPO? You can apply Icon Facilitators IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Icon Facilitators IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Icon Facilitators IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Icon Facilitators IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Icon Facilitators IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Icon Facilitators IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Icon Facilitators IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Icon Facilitators IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Icon Facilitators IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Icon Facilitators IPO Size? Icon Facilitators IPO size is ₹18.15 Crore. |
| What is the Icon Facilitators IPO Price Band? Icon Facilitators IPO Price Band is ₹85 to ₹91. |
| What is Icon Facilitators IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 1200 Shares with ₹1,09,200 amount while the maximum bid is 1200 Shares with ₹1,09,200. |
| What is the Icon Facilitators IPO Allotment Date? Icon Facilitators IPO allotment date is 27 June 2025. |
| What is the Icon Facilitators IPO Listing Date? Icon Facilitators IPO listing date is 01 July 2025. The IPO is to be listed on the NSE SME. |
