Krystal Integrated Services has acquired a 100% equity stake in Citelum India Private Limited from its shareholders, including Citelum S.A.S., France, marking a strategic entry into the city lighting and urban infrastructure sector. The transaction makes Citelum India a wholly owned subsidiary, enabling Krystal to leverage established engineering capabilities while targeting annual revenue of ₹300–350 crore from this new vertical over the next three to four years.

Strategic Acquisition Details

The acquisition was announced on August 12, 2026, pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Krystal Integrated Services Limited (KISL), previously known as Krystal Integrated Services Private Limited, aims to build an engineering-led infrastructure services business by integrating Citelum India’s expertise with its existing platform in integrated facility management, staffing, security, catering, and waste management.

Key parameters of the deal are outlined below:

Revenue and Investment Outlook

Krystal is targeting annual revenue of ₹300–350 crore from the city lighting and urban infrastructure business within the next 3–4 years. To achieve this, the company plans to invest approximately ₹100 crores in engineering capabilities, technology platforms, and business expansion. The infrastructure services segment is expected to contribute 12–15% of consolidated revenues as operations scale across 30–40 cities in 12–15 states.

Expanding Urban Infrastructure Footprint

Citelum India specializes in municipal infrastructure, smart cities, and industrial segments, offering services such as energy-efficient street lighting, artistic illumination, and operation and maintenance of urban networks. Since its inception in 2011, it has managed over 3,00,000 lighting points across major projects in Gujarat, Uttar Pradesh, Madhya Pradesh (Indore), and Chennai. The company also integrates video surveillance, traffic management, and EV charging infrastructure.

Sanjay Dighe, CEO & Whole Time Director of Krystal Integrated Services Ltd, stated that the acquisition strengthens the company’s ability to deliver end-to-end infrastructure services, particularly for long-term operations and maintenance projects. B Sivakumar, CEO & Director of Citelum India Private Limited, noted that the partnership would enable pursuit of larger opportunities and create over 5,000 skilled and semi-skilled employment opportunities.

Krystal Integrated Services Limited has fixed September 11, 2026, as the record date for its recommended final dividend of ₹1.50 per equity share. The Board of Directors approved the payout during its meeting on May 7, 2026, recommending a dividend of ₹1.50 per share with a face value of ₹10. This distribution is subject to approval by members at the company’s 25th Annual General Meeting (AGM), scheduled for Tuesday, September 22, 2026. If declared, the dividend will be paid within the statutory timeframe.

Dividend and Tax Deduction Details

Under the Income Tax Act, 2025, dividend income is taxable in the hands of shareholders, requiring the company to deduct tax at source (TDS) at prescribed rates. Krystal Integrated Services has communicated these provisions to all registered shareholders via email and on its website.

For resident shareholders, TDS is applicable pursuant to Section 393(1) of the Act. Individuals receiving aggregate dividends exceeding ₹10,000 will face a 10% TDS rate if they provide a valid PAN. Without a valid PAN, the rate rises to 20%. Certain entities, including specific insurance companies, mutual funds, and Alternative Investment Funds (AIFs), are exempt from TDS provided they submit the requisite declarations and registration certificates.

Non-resident shareholders are subject to a 20% TDS rate plus applicable surcharge and cess under Section 393(2). Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs) must provide SEBI registration certificates. Shareholders eligible for lower rates under Double Taxation Avoidance Agreements (DTAA) can claim benefits by submitting Form 41 and a valid Tax Residency Certificate.

Submission Deadlines and Compliance

To ensure prompt disbursement, the company has set Tuesday, September 8, 2026, as the last date for submitting documents, declarations, or details required for TDS determination. Any communication received after this deadline will not be considered. Shareholders holding shares in multiple demat accounts under different statuses but linked to a single PAN will be subject to the higher applicable TDS rate across their aggregate holdings.

Shareholders are advised to update their bank account details with their Depository Participants (DPs) or the Registrar to an Issue and Share Transfer Agent (RTA), MUFG Intime India Private Limited. Pursuant to amendments in Regulation 12 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, effective November 19, 2025, the company cannot pay dividends via physical instruments to shareholders with unupdated bank details. TDS credits will be visible in Form 168 on the e-filing portal.