Clear Secured Services Files DRHP (Draft Red Herring Prospectus); Key Details to Follow
By HDFC SKY | Updated at: Sep 30, 2025 12:43 PM IST
Mumbai, June 24, 2025-Clear Secured Services Limited has filed its Draft Red Herring Prospectus (DRHP) with the NSE for an IPO of up to 64.85 lakh equity shares, marking its debut on the NSE Emerge platform. The IPO aims to fuel scale and diversify services while reducing the company’s debt. The company has chosen an SME-friendly environment, and the successful IPO will help broaden the investor base and boost credibility.
The issue is a 100% fresh offer, with no Offer for Sale (OFS) component. The company intends to use the proceeds to fund its growth, including working capital needs and loan repayments.
IPO Snapshot
| Detail | Info |
|---|---|
| Issue Opens | [To be announced] |
| Issue Closes | [To be announced] |
| Price Band | ₹[●] – ₹[●] |
| Issue Size | Up to 64.85 lakh shares |
| Issue Type | 100% Book Built Fresh Issue |
| Listing Exchange | NSE Emerge |
| Market Maker Portion | [●] shares |
| Lead Manager | Horizon Management Pvt Ltd |
| Registrar | Bigshare Services Pvt Ltd |
Company Overview
Incorporated in 2008 and reconstituted as a public limited company in March 2025, Clear Secured Services Limited is a diversified Integrated Facility Management (IFM) service provider. Its offerings span soft services such as housekeeping, security, staffing, and payroll management, along with hard services like electro-mechanical maintenance, façade cleaning, pest control, and infrastructure support.
The company operates pan-India, serving government agencies and private clients across telecom, banking, IT, and real estate sectors. It also has a subsidiary, Comfort Techno Services Pvt Ltd, which provides technology-led e-surveillance and smart infrastructure services.
Financial Highlights
| Metric | FY24 | FY23 | FY22 |
|---|---|---|---|
| Revenue from Operations | ₹27,914.47 lakh | ₹24,709.26 lakh | ₹23,243.38 lakh |
| Profit After Tax | ₹1,173.90 lakh | ₹696.93 lakh | ₹472.87 lakh |
| Net Worth | ₹8,970.47 lakh | ₹7,796.57 lakh | ₹7,099.64 lakh |
| EBITDA Margin (%) | 7.40% | 5.77% | 4.67% |
| ROE (%) | 14.00% | 9.36% | 6.89% |
| EPS (basic/diluted) | ₹7.34 | ₹4.36 | ₹2.96 |
As of December 31, 2024, the company had 2,861 employees deployed across 17 states.
Objects of the Issue
The net proceeds from the IPO will be utilised as follows:
- ₹525 lakh: Investment in subsidiary CTSPL for purchase of e-surveillance equipment
- ₹2,600 lakh: Working capital funding
- ₹3,550 lakh: Repayment/prepayment of borrowings
- [●]: General corporate purposes
Promoter Holding
The pre-issue promoter holding is 99.84%, comprising Mr. Vimal Dhar Lalta Prasad Dubey, Mr. Rakesh Dhar Dubey, Mr. Sanjay Dubey, and Mrs. Kusum Vimal Dubey. Post-issue holding will dilute accordingly.
Lead Manager and Registrar
- Book Running Lead Manager (BRLM): Horizon Management Pvt Ltd
- Registrar: Bigshare Services Pvt Ltd
What to Watch
- The company’s high exposure to top 5 clients (77% of revenue) poses a concentration risk.
- Revenue dependency on IFM segment was nearly 87% in FY24.
- The business model is manpower-intensive with associated operational liabilities.
- Strong growth in profitability and expansion into high-tech surveillance via its subsidiary offers upside potential.
- The issue proceeds will significantly deleverage the balance sheet and support working capital.
Listing dates and price band to be updated upon RHP filing.
REF: https://nsearchives.nseindia.com/emerge/corporates/content/Registration_23062025234110_DRHP_CSSL.pdf
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