Clear Secured Services Ipo
Clear Secured IPO Review & Key Points
Review: Neutral
Rating: 2
IPO Lead Managers aka Merchant Bankers
Horizon Financial Pvt. Ltd.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 2,000 | ₹2,64,000 |
| Retail Maximum | 2 | 2,000 | ₹2,64,000 |
| S-HNI Minimum | 3 | 3,000 | ₹3,96,000 |
| S-HNI Maximum | 7 | 7,000 | ₹9,24,000 |
| B-HNI Minimum | 8 | 8,000 | ₹10,56,000 |
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | 18,48,000 Shares | 28.50% |
| QIB (Ex. Anchor) | 12,32,000 Shares | 19.00 |
| NII Shares Offered | 9,24,000 Shares | 14.25% |
| Retail Shares Offered | 21,56,000 Shares | 33.25% |
| Anchor Bidding Date | November 28, 2025 |
| Anchor Investors List | |
| Shares Offered | 18,48,000 Shares |
| Anchor Size | 24.39 Cr. |
| lock-in period end date 50% shares (30 Days) | January 3, 2026 |
| lock-in period end date 50% shares (90 Days) | March 4, 2026 |
| IPO Open Date: | December 1, 2025 |
| IPO Close Date: | December 3, 2025 |
| Basis of Allotment: | December 4, 2025 |
| Refunds: | December 5, 2025 |
| Credit to Demat Account: | December 5, 2025 |
| IPO Listing Date: | December 8, 2025 |
| IPO Bidding Cut-off Time: | December 3, 2025 – 5 PM |
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,75,62,112 | 99.84% |
| Promoter Holding Post Issue | 2,40,47,112 | -% |
| Purpose | Crores |
| Investment in our wholly owned Subsidiary, Comfort Techno Services Private Limited (“CTSPL”) for funding the Purchase of Equipment | ₹5.25 |
| Funding for Working Capital Requirement | ₹26 |
| Repayment or prepayment of Borrowings | ₹35.50 |
| General Corporate Purpose | ₹- |
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹311.71 | ₹301.64 | ₹6.85 | ₹153.47 |
| 2024 | ₹350.63 | ₹332.61 | ₹12.08 | ₹170.04 |
| 2025 | ₹482.74 | ₹457.50 | ₹9.92 | ₹227.55 |
| August 2025 | ₹231.68 | ₹214.03 | ₹13.90 | ₹303.03 |
| KPI | Values |
| ROE: | 10.74% |
| ROCE: | 23.46% |
| EBITDA Margin: | 4.70% |
| PAT Margin: | 2.08% |
| Debt to equity ratio: | 1.02 |
| Earning Per Share (EPS): | ₹6.20 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 10.74% |
| Net Asset Value (NAV): | ₹60.85 |
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Aarvi Encon Limited | 6.79 | 20.28 | 8.30% | 84 .62 | 510.39 Cr. |
| Integrated Personnel Services Limited | 8.59 | 32.01 | 13.72% | 65.51 | 316.23 Cr. |
| Kapston Services Limited | 8.79 | 36.71 | 22.23% | 43.81 | 689.43 Cr. |
| IPO Open Date | December 1, 2025 |
| IPO Close Date | December 3, 2025 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹125 to ₹132 Per Share |
| Issue Size | Approx ₹85.60 Crores |
| Fresh Issue | Approx ₹85.60 Crores |
| Issue Type | Book Built Issue |
| IPO Listing | NSE SME |
| DRHP Draft Prospectus | |
| RHP Draft Prospectus |