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Clear Secured IPO
Clear Secured Services Ltd
₹2,50,000 /1000 sharesMinimum Investment
Clear Secured IPO Details
| Bidding dates | Minimum investment | Lot size | Price range |
|---|---|---|---|
| 1 Dec ‘25 - 3 Dec ‘25 | ₹2,50,000 | 1,000 | ₹125 - ₹132 |
| Issue size | IPO doc | Tentative allotment date | Tentative listing date |
|---|---|---|---|
| 85.60 Cr | RHP PDF | 04 Dec ‘25 | 08 Dec ‘25 |
| Face value |
|---|
| 10 |
Subscription rate
As of 03 Dec'25, 04:31 PM
| Qualified Institutional Buyers | 9.98x |
| Non-Institutional Investor | 9.47x |
| Retail Individual Investor | 6.40x |
| Total | 8.18x |
About Clear Secured
Founded in
2008
MD/CEO
Mr Vimal Dhar Lalta Prasad Dubey
Parent organisation
Clear Secured Services Ltd
Strengths & Risks of Clear Secured
Strengths
Risks
Clear Secured Services offers an integrated service portfolio spanning facility management, infrastructure solutions, agro-food trading, telecom infrastructure, and cash van operations. This breadth allows the company to combine multiple services into bundled solutions tailored to specific client requirements. It claims to leverage shared resources, technology, equipment, and training across these verticals to support operational efficiencies.
The company claims to have a wide operational presence, serving customer locations across 15 states and 2 Union Territories through 17 branch offices as of FY25. This footprint enables deployment of manpower and services within short timelines and allows closer oversight of site-level operations. The company directly manages its workforce of approximately 2,861 employees, which it states helps maintain consistency in service quality.
Clear Secured Services reports long-standing relationships with clients across sectors such as telecommunications, banking, retail, IT, real estate, and government. It notes that six key customers have been associated with the company for more than five years. The company also states that, excluding government contracts, all expiring customer agreements in FY22, FY23, FY24, and the nine months ended December 31, 2024, were either renewed or extended.
The company is ISO 9001:2015 certified for its quality management systems, ISO 45001:2018 certified for occupational health and safety, ISO/IEC 27001:2022 certified for its information security management systems, and SA 8000:2014 certified for its social accountability system.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 232.43 crore in FY22 to Rs 247.09 crore in FY23 and Rs 279.14 crore in FY24. PAT increased from Rs 4.73 crore in FY22 to Rs 6.97 crore in FY23 and Rs 11.74 crore in FY24.
The top five customers accounted for Rs 242.59 crore (76.99 percent) of the company’s revenue for the period ended December 31, 2024; Rs 222.95 crore (79.87 percent) in FY24; Rs 166.36 crore (67.33 percent) in FY23; and Rs 169.37 crore (72.87 percent) in FY22. Any failure to retain these key customers or a decline in business from them could adversely affect the company’s revenues, margins, and overall financial performance.
Government contracts accounted for Rs 34.46 crore (12.82 percent) of the company’s revenue for the period ended December 31, 2024; Rs 38.45 crore (15.25 percent) in FY24; Rs 32.95 crore (14.73 percent) in FY23; and Rs 8.79 crore (4.32 percent) in FY22. Since these contracts require meeting strict pre-qualification criteria and competing with other bidders on pricing, experience, and capability, any adverse changes in bidding conditions, government policies, or budget allocations could harm the company’s ability to secure or renew such contracts and negatively impact its business and financial performance.
Maharashtra accounted for Rs 251.11 crore (79.70 percent) of the company’s revenue for the period ended December 31, 2024; Rs 174.63 crore (62.56 percent) in FY24; Rs 99.35 crore (40.21 percent) in FY23; and Rs 100.03 crore (43.04 percent) in FY22. Any adverse political, economic, or social developments in this region, or an inability to renew contracts or maintain demand under commercially viable terms, could negatively impact the company’s business, cash flows, and financial condition.
A major share of Clear Secured Services’ revenue is concentrated in its Integrated Facility Management (IFM) segment. It accounted for Rs 157.06 crore (49.85 percent) of the company’s revenue for the period ended December 31, 2024; Rs 242.19 crore (86.76 percent) in FY24; Rs 174.73 crore (70.71 percent) in FY23; and Rs 185.87 crore (79.97 percent) in FY22. Any decline in demand for IFM services, increased competition, or supply disruptions could negatively affect the company’s business, cash flows, and financial performance.
The company reported negative cash flow from operating activities amounting to Rs 36.61 crore for the period ended December 31, 2024; Rs 19.19 crore in FY24; and Rs 6.71 crore in FY23. Continued negative cash flow may affect the company’s ability to fund working capital needs or repay obligations without external financing.
As of December 31, 2024, the company had trade receivables of Rs 84.93 crore, representing 39.41 percent of its total assets. This is an increase from Rs 47.00 crore (28.59 percent) in FY24. Furthermore, outstanding receivables older than six months amounted to Rs 4.34 crore (5.11 percent) for the period ended December 31, 2024. Any increase in customer delays, defaults, or financial stress could strain cash flows, elevate working capital needs, and negatively impact the company’s financial condition.
The company, its directors, promoters, and subsidiaries are involved in certain ongoing legal proceedings, including criminal and tax-related cases. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of May 31, 2025, the company had outstanding financial indebtedness of Rs 90.34 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Clear Secured Financials
*All values are in Rs. Cr
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Application Details of Clear Secured IPO
| Apply as | Price band | Apply Range | Lot size |
|---|---|---|---|
| Individual investor | ₹125 - 132 | ₹2 - 5 Lakh | 1000 |
For Clear Secured IPO, eligible investors can apply as Individual investor.