In 2025, India’s primary markets continue to see healthy activity, with services and asset-light businesses finding favour among investors. Within this landscape, Clear Secured Services Limited (CSS) is coming out with its IPO on December 1, 2025, offering investors exposure to an integrated facility management and security services provider. Here is a detailed insight into Clear Secured Services, its IPO structure, and the company’s financial profile.
About Clear Secured Services Ltd.
Clear Secured Services Limited (CSS) is a Mumbai-based facility management and integrated services company. It provides a wide basket of solutions that help enterprises outsource non-core operations and improve efficiency.
Key service offerings include:
- Security Services
- Housekeeping and Cleaning
- Repair and Maintenance (RnM)
- Infrastructure and Interiors (TIS)
- HR and Staffing Solutions
- Telecom and Remote Monitoring
- IT and Software Services
The company serves various clients across sectors like:
- Telecom sector
- Insurance sector
- Real Estate sector
- Oil and Gas sector
- Banking sector
- Retail sector, and
- Government sector.
Presently, Clear Secured Services is operating at 17 customer locations spread across 15 states and 2 union territories, supported by a large on-ground workforce.
Competitive strengths:
- Integrated and scalable service model aligned with industry growth
- Direct operations and nationwide presence
- Strong and ongoing relationships with clients across key sectors
- Track record of revenue growth with a scalable and efficient business model
Promoters of the company are Mr. Vimal Dhar Lalta Prasad Dubey, Mr. Rakesh Dhar Dubey, Mrs. Kusum Vimal Dubey and Mr. Sanjay Dubey.
Clear Secured IPO Details
Clear Secured IPO is a book-built issue aggregating up to ₹85.60 crore, entirely a fresh issue of equity shares.
Important IPO Timeline
| Event | Date (Tentative) |
| IPO Open Date | December 1, 2025 (Mon) |
| IPO Close Date | December 3, 2025 (Wed) |
| Basis of Allotment | December 4, 2025 (Thu) |
| Initiation of Refunds | December 5, 2025 (Fri) |
| Credit of Shares to Demat | December 5, 2025 (Fri) |
| Listing Date | December 8, 2025 (Mon) |
| Cut off time for UPI mandate confirmation | 5 PM on December 3, 2025 |
Key IPO Details
Here is the table on the Clear Secured IPO review:
| IPO Date | December 1, 2025 to December 3, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹125 to ₹132 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 64,85,000 shares (aggregating up to ₹85.60 Cr) |
| Reserved for Market Maker | 3,25,000 shares (aggregating up to ₹4.29 Cr) |
| Net Offered to Public | 61,60,000 shares (aggregating up to ₹81.31 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,75,62,112 shares |
| Share Holding Post Issue | 2,40,47,112 shares |
| Book Running Lead Manager | Horizon Management Pvt. Ltd. |
| Registrar | Bigshare Services Pvt. Ltd. |
| Market Maker | Choice Equity Broking Pvt. Ltd. |
Clear Secured IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
Lot Size of Clear Secured IPO
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereafter.
Here is the table of lot sizes for each category of investors:
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 2,000 | ₹2,64,000 |
| Individual investors (Retail) (Max) | 2 | 2,000 | ₹2,64,000 |
| S HNI (Min) | 3 | 3,000 | ₹3,96,000 |
| S HNI (Max) | 7 | 7,000 | ₹9,24,000 |
| B HNI (Min) | 8 | 8,000 | ₹10,56,000 |
Clear Secured Services Ltd. Financials
Clear Secured Services has reported steady growth in its topline and profitability over the past few years.
Key Company Financials (Restated, ₹ Crore)
| Period Ended | 31 Aug 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 303.03 | 227.55 | 170.04 | 153.47 |
| Total Income | 231.68 | 482.74 | 350.63 | 311.71 |
| Profit After Tax | 13.90 | 9.92 | 12.08 | 6.85 |
| EBITDA | 21.44 | 22.37 | 21.80 | 14.58 |
| NET Worth | 132.44 | 97.35 | 87.43 | 75.35 |
| Reserves and Surplus | 114.88 | 97.10 | 87.18 | 75.10 |
| Total Borrowing | 131.28 | 99.37 | 52.66 | 44.19 |
Key Performance Indicators
KPI as of March 31, 2024:
| KPI | Value |
| ROE | 10.74% |
| ROCE | 23.46% |
| Debt Equity | 1.02 |
| RoNW | 10.74% |
| PAT Margin | 2.08% |
| EBITDA Margin | 4.70% |
| Price to Book Value | 2.17 |
| Market Capitalisation (at issue terms) | ₹317.42 Cr |
EPS & P/E Ratio
| Pre IPO | Post IPO | |
| EPS (₹) | ₹5.65 | ₹13.87 |
| P E (x) | 23.36x | 9.52x |
Promoter Holding:
| Pre Issue | Post Issue | |
| Promoter Holding | 99.84% | – |
Objects of the Issue
The Company proposes to utilise the net proceeds from the Clear Secured IPO towards the following objectives:
| S. No. | Objects of the Issue | Expected Amount (₹ in crores) |
| 1 | Investment in wholly owned subsidiary Comfort Techno Services Private Limited for funding the purchase of equipment | 5.25 |
| 2 | Funding working capital requirements | 26.00 |
| 3 | Repayment or prepayment of borrowings | 35.50 |
| 4 | General corporate purposes | Balance |
Clear Secured Services Ltd.: Industry Outlook
- Rising outsourcing of non-core functions such as security, housekeeping, and facilities management by corporates, banks, and institutions is expanding the addressable market for integrated service providers.
- Growing telecom and IT infrastructure, along with demand for remote monitoring and managed services, supports long-term revenue visibility for companies like Clear Secured Services.
- Focus on cost optimisation and efficiency in sectors like banking, retail, real estate, and government is driving preference for single window integrated vendors rather than multiple fragmented service providers.
- As compliance, safety, and quality standards rise, organised players with pan-India presence and robust processes are likely to gain market share over unorganised providers.
Clear Secured IPO: Peer Comparison
Clear Secured IPO can be compared with peers like SIS Limited, Quess Corp, Security and Intelligence Services, TeamLease Services Ltd, and BVG India (where applicable). Exploring these companies offers investors a clearer view of how Clear Secured Services is positioned within the facility management, security, and staffing services industry, helping them make better-informed decisions.
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Conclusion
Clear Secured IPO offers investors an opportunity to participate in the growth of an integrated facility management and security services provider with a national footprint. The business model is asset-light and service-oriented, with diversified offerings across security, housekeeping, staffing, telecom support, and IT services.
The company has shown consistent growth in revenue and profitability, supported by a scalable model and rising demand for outsourced services. At the same time, investors should factor in risks such as dependence on large contracts, execution across multiple locations, and moderate leverage on the balance sheet.
As with any SME IPO, potential investors in the Clear Secured IPO should evaluate their own risk tolerance and investment horizon before making a decision.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
