A total of 64,85,000 shares, amounting to ₹85.60 crore, will be issued in the Clear Secured IPO. It is an SME bookbuilding issue that will be listed on the NSE SME platform. The face value is ₹10/share. The bidding in this IPO starts on December 1, 2025, and ends on December 3, 2025. The tentative date of share allotment is December 4, 2025. The expected listing date is December 8, 2025.
The price band in this IPO is from ₹125 to ₹132 per share. This IPO has a lot size of 1,000 shares. For retail investors, the minimum investment amount will be ₹2,64,000 for 2 lots of 1,000 shares each. For sNII, this amount becomes ₹3,96,000 for 3 lots. The bNIIs will have to invest ₹10,56,000 for 8 lots.
Clear Secured IPO Details
Following is a list of important details of the Clear Secured IPO:
| Particulars | Details |
| IPO Opens | December 1, 2025 |
| IPO Closes | December 3, 2025 |
| Face value | ₹10/share |
| Price Band | ₹125 to ₹132 per share |
| Issue price | |
| IPO Lot Size | 1,000 Shares |
| Offer for sale | |
| Fresh issue | 64,85,000 shares (₹85.60 Cr) |
| Issue Type | Bookbuilding |
| Listing at | NSE SME |
| Total Issue Size | 64,85,000 shares (₹85.60 Cr) |
| Market Maker Reservation | 3,25,000 shares (₹4.29 Cr) |
| Public Offering | 61,60,000 shares (₹81.31 Cr) |
| Minimum Investment | ₹2,64,000 |
| Retail Discount | – |
Clear Secured IPO Timeline
The IPO will be carried out as per the following schedule:
| Particulars | Details |
| Bidding Opens | December 1, 2025 |
| Bidding Closes | December 3, 2025 |
| Expected Allotment | December 4, 2025 |
| Refund process starts | December 5, 2025 |
| Credit date of allotted shares to Demat | December 5, 2025 |
| Expected Listing | December 8, 2025 |
| UPI mandate cut-off time | 5 PM on December 3, 2025 |
Clear Secured IPO DRHP Status
The current status of the Clear Secured IPO is given below:
| Filed with SEBI/Exchange | Filed with NSE and submitted to SEBI on 23 June 2025 |
| SEBI/Exchange approval | In-principle listing approval received from NSE SME platform on September 19, 2025.” |
Clear Secured’ IPO Grey Market Premium (GMP Today)
The Clear Secured IPO GMP today stands at ₹11, showing an improvement in the market sentiment. After staying flat at ₹0 on 25 November 2025, the GMP has moved up on 26 November 2025, signalling early investor interest.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 27-11-2025 | ₹11 | ₹143 | 8.33% | Neutral |
| 26-11-2025 | ₹11 | ₹143 | 8.33% | Increasing |
| 25-11-2025 | ₹0 | ₹132 | 0% | – |
Note: The GMP values are sourced from informal market activity and can change based on investor interest and subscription status.
What is the Clear Secured IPO’s GMP percentage?
At a GMP of ₹11, the Clear Secured IPO has an estimated listing price of ₹143, which means an expected listing gain of 8.33%. It signals that the IPO may list above its issue price, showing positive market sentiment.
Clear Secured IPO Reservation
The shares of this IPO are reserved in the given manner for different investor categories:
| Investor Category | No. of Shares Offered |
| Market Maker Shares | |
| QIB Shares | Up to 50% of the Net Issue |
| NII (HNI) Shares | At least 35% of the Net Issue |
| Retail Shares | At least 15% of the Net Issue |
Clear Secured Key Performance Indicator
The Clear Secured Key Performance Indicators (KPIs) are as follows:
| KPIs | FY 2023 | FY 2024 | FY 2025 |
| ROE | 9.53% | 14.85% | 10.74% |
| ROCE | 13.84% | 20.58% | 23.46% |
| Debt Equity | 0.59 | 0.60 | 1.02 |
| RoNW | 9.53% | 14.85% | 10.74% |
| PAT Margin | 2.22% | 3.48% | 2.08% |
| EBITDA margin | 4.78% | 6.27% | 6.47% |
| Price Book Value | – | – | 2.17 |
Clear Secured IPO Financials
The key financial metrics of Clear Secured are listed below:
| Particulars (in ₹ lakh) | 2023 | 2024 | 2025 |
| Revenue | 31171.44 | 35063.19 | 48273.88 |
| Total Asset | 15346.86 | 17003.86 | 22755.12 |
| Profit | 685.40 | 1208.43 | 992.19 |
Lot Sizes of Clear Secured IPO
The investors can apply for the given lot sizes as per their category:
| Application | No. of Lots | Shares | Amount |
| Individual investors (Retail) (Minimum) | 2 lots | 2,000 shares | ₹2,64,000 |
| Individual investors (Retail) (Maximum) | 2 lots | 2,000 shares | ₹2,64,000 |
| S-HNI (Minimum) | 3 lots | 3,000 shares | ₹3,96,000 |
| S-HNI (Maximum) | 7 lots | 8,000 shares | ₹9,24,000 |
| B-HNI (Minimum) | 8 lots | 8.000 shares | ₹10,56,000 |
Clear Secured IPO Promoter Holding
The promoter holding of Clear Secured will change in the given manner:
| Promoter Holding Pre-Issue | 99.84% |
| Promoter Holding Post-Issue | – |
Clear Secured IPO Anchor Investors Details
Following is the information regarding the anchor investors:
| Particulars | Details |
| Anchor Bidding Starts | November 28, 2025 |
| Shares Offered | Up to 18,48,000 shares |
| Portion Size | 60% of the QIB portion |
| Lock-in of 50% shares (30 days) | January 3, 2026 |
| Lock-in of remaining shares (90 days) | March 4, 2026 |
Clear Secured IPO Prospectus
You can go through the following documents for more information:
| Draft Red Herring Prospectus (DRHP) | |
| Red Herring Prospectus (RHP) | |
| Anchor Investors | |
| Final Prospectus | Not Disclosed |
About Clear Secured
Clear Secured Services Limited was founded in 2008 by Mr. Vimal Dhar Lalta Prasad Dubey, who also serves as the Managing Director. He, along with Mr. Sanjay Dubey, Mr. Mrs. Kusum Vimal Dubey, and Rakesh Dhar Dubey, form the promoter group of the company. Clear Secured was later converted to a public company in 2025. Based in Mumbai, Maharashtra, it operates in the security and manpower services industry, competing with peers like Kapston Services, Aarvi Encon, and Integrated Personnel Services.
The company offers security guards, housekeeping, facility management, and staffing solutions across multiple states. With an expanding client base and efficiency in operations, the company continues to strengthen its presence in the organised security services market.
| Book running lead manager | Horizon Management Pvt.Ltd. |
| Registrar of the issue | Bigshare Services Pvt.Ltd. |
Objectives of the Clear Secured IPO
Clear Secured is raising funds through IPO in order to meet the given objectives:
| S.No. | Objective | Amount (in ₹ crore) |
| 1 | Working capital requirement | 26.00 |
| 2 | Investment in subsidiary for purchase of equipment | 5.25 |
| 3 | Repayment or prepayment of loans | 35.50 |
| 4 | General corporate purposes | – |
Strength Of Clear Secured
The core advantages that have led to Clear Secured’s high growth and performance are:
1. Integrated Offerings
Clear Secured offers a comprehensive mix of facility management, security, staffing, and support solutions, which allows it to deliver customised and bundled services across multiple sectors. Its one-stop model enhances customer trust and improves their retention.
2. Wide Market Reach
The company has a wide geographic footprint supported by strong on-ground teams. It helps in ensuring consistent quality and quick delivery across regions. Focused training helps in maintaining service standards and efficiency across the company’s network.
3. Customer Relationships
The company benefits from long-standing relationships with various customers across diverse industries. This has been possible because the Clear Secured provides reliable services by following a customer oriented approach. Understanding and adjusting to the customer needs strengthens engagement and supports business repetition.
4. Scalable Performance
The company follows efficient processes for providing a diversified service portfolio that supports sustainable growth. Its adaptable business model allows it to expand operations without compromising quality and financial health.
Risk of Clear Secured
Clear Secured carries the following risks that an investor should be aware of:
1. Working Capital Pressure
The business is heavily dependent on timely cash flows, and any disruptions or delays in securing financing can negatively impact the daily operations and lower liquidity.
2. Legal Exposure
There are ongoing legal proceedings that involve the company, its promoters, and subsidiaries. Any unfavourable outcome may lead to penalties, reputational harm, or weakened financial stability.
3. Geographic Concentration
The clients from Maharashtra contribute to a significant portion of the revenue. Any regional slowdown, policy change, or contract loss could adversely affect overall business performance and cash flows.
4. Contract Dependence
The company generates a high amount of business from government projects, which are awarded through competitive bidding. Failure to meet eligibility criteria, win tenders, or renew contracts may impact the revenue and growth prospects.
Clear Secured IPO Review
Clear Secured has shown steady growth over the years, driven by expanding facility management, efficient service delivery, a wide operational footprint, and strong client relationships. The IPO’s valuation is reasonable for an SME issue, and the improving GMP reflects early positive sentiment. However, investors should note risks such as customer concentration, regional dependence, and ongoing legal matters. Investors with a moderate-to-high risk tolerance can apply for this IPO.
Other Recent IPO List
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Clear Secured IPO FAQs
Clear Secured IPO is an SME IPO of 64,85,000 shares, with a total issue size of ₹85.60 crore.
You can apply for the Clear Secured IPO through your broker or bank using UPI via ASBA or the IPO section in trading apps like Zerodha, Groww, or Upstox.
The company shows growth and strong client relationships, but carries risks like customer concentration and high working capital needs. It is suitable for investors with moderate to high risk tolerance.
The expected returns are 8.33% when the premium is ₹11.
The Clear Secured IPO opens on 1 December 2025.
The lot size of the Clear Secured IPO is 1,000 shares.
The allotment date for the Clear Secured IPO is December 4, 2025.
The Clear Secured IPO will be listed on December 8, 2025.
