Stalwart People Services files for IPO to raise Rs 150 crore

CHENNAI: Tamil Nadu headquartered Stalwart People Services Limited, a security, facilities management, and staffing services company has filed its draft red herring prospectus (DRHP) with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

According to the DRHP, the proposed IPO is a combination of a fresh issue of equity shares aggregating up to Rs 150 crore  and an offer for sale (OFS) of up to 52,64,151 equity shares by the promoter selling shareholders - Christopher Arvinth and Caroline Mendez.

Stalwart People Services, incorporated in 2003, proposes to use the net proceeds of the fresh issue towards funding its working capital requirement of Rs 65 crores, pre-payment or re-payment, in full or in part, of certain outstanding borrowings worth Rs 40 crore and general corporate purposes.

As on April 30, 2026, it had a staff strength of 25,070 personnel and serviced 1,099 clients across 23 states, three union territories and two middle east countries. Some of Stalwart’s marquee clients are Yes Bank, Zepto, PVR Inox, Century Panels and GNITS (G Narayanamma Institute of Technology and Science)

The company, in consultation with the BRLMs, may consider a Pre-IPO Placement of Equity Shares aggregating up to Rs 22.5 crore, prior to filing of the Red Herring Prospectus with the RoC. If the Pre-IPO Placement is completed, the amount raised will be reduced from the fresh issue.

In nine-month period ended December 31, 2025 (9MFY26), the company reported revenue from operations at Rs 474 crores, recording a 47% CAGR from FY23. The profit after tax (PAT) for the same period stood at Rs 22.8 crores.

As per the F&S report, in the period fiscal 2026 to fiscal 2031, the Security Services market in India is expected to grow at a CAGR of 11.6 per cent to reach Rs 3,067.6 billion, while the Facility Management Services market in India is expected to grow at a CAGR of 12.7 per cent to reach Rs 942.3 billion and the Staffing Services market in India is projected to grow at a CAGR of 19.9 per cent to reach Rs 2,877 billion.