Introduction: The Facility Management Sector Gears Up for Listing
The Indian SME landscape is buzzing with activity, and the upcoming Initial Public Offering (IPO) from Clear Secured Services Ltd. is catching the attention of investors looking to tap into the growing facility management sector. This book-built issue on the NSE SME platform presents a unique opportunity. Before diving in, a thorough understanding of the company, its financials, and the IPO specifics is crucial. This guide consolidates all the essential information you need to assess this offering.
Understanding Clear Secured Services Ltd.
Clear Secured Services Limited (CSS) is a well-established Mumbai-based firm specializing in offering integrated facility management solutions. Their business model is designed to handle diverse client needs under one roof, ensuring comprehensive operational support for businesses across the nation.
Core Service Spectrum
- Security Services
- Housekeeping & Cleaning Operations
- Repair & Maintenance (RnM)
- Infrastructure & Interiors (TIS)
- HR & Staffing Solutions
- Telecom & Remote Monitoring Systems
- IT & Software Services
Competitive Edge
The company highlights several strong points that position it well for future growth:
- Offering integrated services supported by a strategic business model attuned to sector expansion.
- Maintaining direct operations across multiple states, ensuring a nationwide operational footprint supported by a substantial workforce.
- Cultivating strong, continuous relationships with clients spanning critical economic sectors.
- Demonstrating consistent financial performance enabled by a scalable and efficient operational framework.
Operational Footprint
As of the latest data, CSS manages services at 17 customer locations spread across 15 states and 2 union territories, serving diverse industries including telecom, insurance, real estate, oil and gas, banking, retail, and government sectors.
Key Financial Snapshot (Amounts in ₹ Crore)
Examining the historical financial performance provides insight into the company's trajectory. The figures below are restated historical data.
| Metric | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 215.50 | 164.37 | 147.24 | 128.40 |
| Total Income | 319.41 | 281.90 | 249.39 | 233.67 |
| Profit After Tax (PAT) | 11.75 | 11.74 | 6.97 | 4.73 |
| Total Borrowing | 85.59 | 46.13 | 37.20 | 20.11 |
Performance Indicators (As of March 31, 2024)
| KPI | Value | Benchmark Context |
|---|---|---|
| Return on Equity (ROE) | 14% | Measures profitability relative to shareholder funds. |
| Return on Capital Employed (ROCE) | 18.93% | Indicates efficiency in utilizing total capital. |
| Debt-to-Equity Ratio | 0.51 | Shows moderate leverage. |
| PAT Margin | 4.21% | Profitability as a percentage of total income. |
Clear Secured IPO: The Offering Details
This is a Book Building IPO raising approximately ₹85.60 crores, comprising entirely fresh equity shares.
IPO Summary Table
| Parameter | Value |
|---|---|
| Face Value | ₹10 per share |
| Issue Price Band | ₹125 to ₹132 per share |
| Total Fresh Issue Size | ₹85.60 Crore (64.85 Lakh Shares) |
| Listing Venue | NSE SME |
Subscription Timeline & Key Dates
The IPO opens on December 1, 2025, and closes two days later. Below is the tentative schedule:
| Milestone | Tentative Date |
|---|---|
| IPO Open Date | Monday, Dec 1, 2025 |
| IPO Close Date | Wednesday, Dec 3, 2025 |
| Tentative Allotment Finalization | Thursday, Dec 4, 2025 |
| Credit of Shares to Demat | Friday, Dec 5, 2025 |
| Tentative Listing Date (NSE SME) | Monday, Dec 8, 2025 |
Investment Lot Size Details
The offering is structured with specific lot sizes. Investors must bid for the minimum lot size or multiples thereof.
| Investor Category | Application Lots | Shares (Minimum) | Investment Amount (at Upper Price) |
|---|---|---|---|
| Individual Investors (Retail - Min) | 2 | 2,000 | ₹2,64,000.00 |
| HNI (Small - Min) | 3 | 3,000 | ₹3,96,000.00 |
Fund Deployment Strategy (Objects of the Issue)
The company plans to utilize the net proceeds from this fresh issue to strengthen its operational capabilities and financial structure:
| Purpose | Expected Amount (₹ in crores) |
|---|---|
| 1. Investment in Subsidiary (CTSPL) for Equipment Purchase | 5.25 |
| 2. Funding Working Capital Requirements | 26.00 |
| 3. Repayment or Prepayment of Borrowings | 35.50 |
| 4. General Corporate Purposes | (Balance) |
Significantly, a large portion of the funds is earmarked for reducing debt and bolstering working capital, suggesting a focus on balance sheet strengthening and operational scalability.
Corporate Structure and Ownership
The offering sees a substantial dilution of the existing promoter stake, though they maintain majority control post-issue.
| Holding Status | Percentage |
|---|---|
| Promoter Holding Pre-Issue | 99.84% |
| Promoter Holding Post-Issue | (To be calculated based on final allotment) |
The company promoters are identified as Mr. Vimal Dhar Lalta Prasad Dubey, Mr. Rakesh Dhar Dubey, Mrs. Kusum Vimal Dubey, and Mr. Sanjay Dubey.
Investment Assessment: SWOT Analysis
A balanced view requires considering both the inherent strengths and potential weaknesses.
Strengths (Internal Positives)
- Diversified Service Portfolio: Offering multiple facility management streams reduces reliance on a single revenue source.
- Strong Client Base: Established relationships across varied essential sectors provide revenue stability.
- Track Record of Growth: Consistent growth in income and PAT over the reviewed financial periods.
- Strategic Use of Funds: Planned debt reduction improves the financial health post-IPO.
Weaknesses (Internal Negatives)
- High Pre-Issue Promoter Holding: While common in SME listings, the initial high concentration suggests limited free float before the IPO.
- Labor Intensive Model: Facility management is inherently dependent on human resources, which can impact scalability and margin stability.
Opportunities (External Positives)
- Infrastructure Boom: Growing commercial and residential development drives higher demand for integrated facility management services.
- Outsourcing Trend: Companies increasingly outsource non-core functions like maintenance and security to specialized firms.
Threats (External Negatives)
- Regulatory Changes: Sector-specific labor laws or compliance requirements can impact operational costs.
- Intense Competition: The facility management space has numerous local and national players, leading to potential price competition.
How to Participate: Application Procedures
Investors typically apply for SME IPOs using UPI-based applications through their brokerage accounts.
Applying via Discount Brokers (General Steps)
Platforms commonly used for such subscriptions streamline the process:
- Log into your chosen broker's trading portal or mobile application (e.g., platforms known for flat-rate brokerage charges).
- Navigate to the IPO section within the portfolio or trading dashboard.
- Select the Clear Secured Services IPO and specify your bid quantity (minimum 2,000 shares).
- Confirm the application using your UPI ID, ensuring sufficient funds are blocked via the mandate.
Crucially, ensure the UPI mandate is confirmed before the cut-off time, which is 5 PM on the closing day (December 3, 2025).
Key Contacts and Intermediaries
Knowing the key personnel managing the IPO process is vital for necessary follow-ups.
Company and Registrar Information
| Role | Entity Details |
|---|---|
| Lead Manager | Horizon Management Pvt.Ltd. |
| Registrar & Share Transfer Agent | Bigshare Services Pvt.Ltd. (Contact: +91-22-6263 8200) |
| Company Contact (Email) | companysecretary@cssindia.in |
Concluding Thoughts for the Investor
The Clear Secured Services IPO presents an opportunity to invest in a growing SME within the critical facility management domain. With planned debt reduction and a focus on working capital improvement, the deployment of issue proceeds appears geared towards sustainable business expansion. As with any SME IPO, potential investors should weigh the high growth prospects typical of smaller listed entities against the inherent volatility and risks associated with pre-profitability or high-leverage sectors. Conduct a final review of the Draft Red Herring Prospectus (DRHP) and assess your risk appetite before the bidding window closes on December 3, 2025.