Krystal Integrated Services acquires 100% stake in Citelum India | Capital Market News

Krystal Integrated Services announced that the Company has acquired 100% equity stake in Citelum India from its current shareholders including Citelum S.A.S., France.

Citelum India will become a wholly owned subsidiary of Krystal Integrated Services.

The acquisition marks Krystal’s entry into the City Lighting & Urban Infrastructure segment and forms part of its strategy to build an engineering-led infrastructure services business.

Krystal is targeting annual revenue of Rs 300-350 crore from the new vertical over the next 3-4 years and plans to invest approximately Rs 100 crore in engineering capabilities, technology platforms and business expansion. The Company plans to scale its operations across 30-40 cities in 12-15 states, with infrastructure services expected to contribute 12-15% of consolidated revenues.

Disclaimer: No Business Standard Journalist was involved in creation of this content