Stalwart People Services Files DRHP With SEBI For ₹150 Crore IPO

Security, facility management and staffing services provider Stalwart People Services has filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

The issue comprises a fresh issue of equity shares worth up to ₹150 crore and an offer for sale (OFS) of 52,64,151 equity shares by promoters Christopher Arvinth and Caroline Mendez.

The Tamil Nadu-based company may also raise up to ₹22.5 crore through a pre-IPO placement before filing the red herring prospectus with the Registrar of Companies. If the placement goes through, the size of the fresh issue will be reduced by the amount raised.

Where Will The IPO Proceeds Be Used?

According to the draft papers, Stalwart plans to use ₹65 crore from the fresh issue to meet its working capital requirements, while ₹40 crore has been earmarked for repaying certain outstanding borrowings.

The remaining proceeds will be used for general corporate purposes. Bajaj Capital Securities is the sole book-running lead manager for the public issue.

Company Serves More Than 1,000 Clients

Founded in 2003, Stalwart People Services provides security services, facility management and staffing solutions under a single platform. As of 30 April 2026, it had a workforce of 25,070 and was serving 1,099 clients across 23 states, three Union Territories and two countries in West Asia.

Also Read- Finance Ministry Approves ₹1.25 Lakh Crore For India Semiconductor Mission 2.0

Its customers include Yes Bank, Zepto, PVR Inox, Century Panels and G. Narayanamma Institute of Technology and Science (GNITS). For the nine months ended 31 December, 2025, the company reported revenue from operations of ₹474 crore and a profit after tax of ₹22.8 crore.

The DRHP also said revenue has grown at a CAGR of 47% since FY23. Stalwart's listed peers include SIS Ltd, TeamLease Services, Updater Services, Krystal Integrated Services and Kapston Services.