IPO
Security & facilities mgmt co. Stalwart People Services to raise Rs.150-Cr via IPO
Tamil Nadu-based Stalwart People Services has filed its draft red herring prospectus (DRHP) to raise INR 150 crore through a fresh issue of equity shares. The transaction also includes an offer for sale (OFS) of 5,264,151 equity shares by promoters Christopher Arvinth and Caroline Mendez. Bajaj Capital Securities has been appointed as the book-running lead manager to the offer.Established in 2003, the company provides security services, facilities management, and staffing solutions. As of April 30, 2026, the firm employed 25,070 personnel and served 1,099 clients across 23 states, three union territories, and two countries in the Middle East. The firm intends to use the net proceeds from the fresh issue to fund working capital requirements of INR 65 crore, as well as for the repayment or prepayment of specific outstanding borrowings amounting to INR 40 crore.For the nine-month period ended December 31, 2025, the firm reported revenue from operations of INR 474 crore and a profit after tax of INR 22.8 crore.
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