Mon Dec 16 10:54:48 UTC 2024: ## Supreme Facility Management IPO Oversubscribed on First Day
**MUMBAI, December 12, 2024** – Supreme Facility Management Limited’s Initial Public Offering (IPO) saw strong investor interest on its first day, closing over 1.75 times subscribed by 5:00 PM on December 11th. The IPO, which opened on December 11th and closes on December 13th, offers shares at a price band of ₹72 to ₹76, with a face value of ₹10.
Supreme Facility Management, founded in 2005, is a leading provider of integrated facility management and support services to businesses (B2B). Their services encompass soft and hard facility management, staff services (housekeeping, cleaning, disinfection, pest control, horticulture, facade cleaning), and support services including ET services, production support, and corporate food services. The company operates on a subscription-based model, securing long-term revenue streams.
The company reported significant growth, with a 7.91% increase in revenue to ₹356.95 crore in 2024 (compared to ₹330.78 crore in 2023) and a 33.8% surge in profit after tax (PAT) to ₹7.42 crore (from ₹5.54 crore). Currently employing 10,935 people, Supreme Facility Management’s strong performance has fueled investor confidence.
Interestingly, the Grey Market Premium (GMP) for the IPO was ₹0 on December 11th, suggesting the market valued the shares at the upper end of the price band. While the initial subscription rate was 1.75x, the final subscription rate reported significantly higher, exceeding 27.01x by the closing date.
First Piper 