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Keystone Realtors IPO is a book built issue of Rs 635.00 crores. The issue is a combination of fresh issue of 1.04 crore shares aggregating to Rs 560.00 crores and offer for sale of 0.14 crore shares aggregating to Rs 75.00 crores.
Keystone Realtors IPO bidding started from November 14, 2022 and ended on November 16, 2022. The allotment for Keystone Realtors IPO was finalized on Monday, November 21, 2022. The shares got listed on BSE, NSE on November 24, 2022.
Keystone Realtors IPO price band is set at ₹514 to ₹541 per share. The minimum lot size for an application is 27 Shares. The minimum amount of investment required by retail investors is ₹14,607. The minimum lot size investment for sNII is 14 lots (378 shares), amounting to ₹204,498, and for bNII, it is 69 lots (1,863 shares), amounting to ₹1,007,883.
Axis Capital Limited and Credit Suisse Securities (India) Private Limited are the book running lead managers of the Keystone Realtors IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Keystone Realtors IPO RHP for detailed information.
| IPO Date | November 14, 2022 to November 16, 2022 |
| Listing Date | November 24, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹514 to ₹541 per share |
| Lot Size | 27 Shares |
| Total Issue Size | 11,737,523 shares (aggregating up to ₹635.00 Cr) |
| Fresh Issue | 10,351,201 shares (aggregating up to ₹560.00 Cr) |
| Offer for Sale | 1,386,322 shares of ₹10 (aggregating up to ₹75.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 103,526,222 |
| Share holding post issue | 113,877,423 |
Keystone Realtors IPO offers 8,647,858 shares. 2,470,816 (28.57%) to QIB, 1,853,113 (21.43%) to NII, 4,323,929 (50.00%) to RII. 160,145 RIIs will receive minimum 27 shares and 1,634 (sNII) and 3,268 (bNII) will receive minimum 378 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 2,470,816 (28.57%) | NA |
| NII (HNI) Shares Offered | 1,853,113 (21.43%) | |
| bNII > ₹10L | 1,235,408 (14.29%) | 3,268 |
| sNII < ₹10L | 617,705 (7.14%) | 1,634 |
| Retail Shares Offered | 4,323,929 (50.00%) | 160,145 |
| Total Shares Offered | 8,647,858 (100%) |
Keystone Realtors IPO opens on November 14, 2022, and closes on November 16, 2022.
| IPO Open Date | Monday, November 14, 2022 |
| IPO Close Date | Wednesday, November 16, 2022 |
| Basis of Allotment | Monday, November 21, 2022 |
| Initiation of Refunds | Tuesday, November 22, 2022 |
| Credit of Shares to Demat | Wednesday, November 23, 2022 |
| Listing Date | Thursday, November 24, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 16, 2022 |
Investors can bid for a minimum of 27 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 27 | ₹14,607 |
| Retail (Max) | 13 | 351 | ₹189,891 |
| S-HNI (Min) | 14 | 378 | ₹204,498 |
| S-HNI (Max) | 68 | 1,836 | ₹993,276 |
| B-HNI (Min) | 69 | 1,863 | ₹1,007,883 |
| Lot Size Calculator | |||
Boman Rustom Irani, Percy Sorabji Chowdhry, and Chandresh Dinesh Mehta are the company promoters.
| Share Holding Pre Issue | 96.71% |
| Share Holding Post Issue | 87.92% |
Incorporated in 1995, Keystone Realtors Limited is one of the prominent real estate developer. The company is engaged primarily in the business of real estate construction, development and other related activities in India.
As of June 30, 2022, the company had 32 Completed Projects, 12 Ongoing Projects and 21 Forthcoming Projects across the Mumbai Metropolitan Region ("MMR") that includes a comprehensive range of projects under the affordable, mid and mass, aspirational, premium and super premium categories, all under the Rustomjee brand.
June 30, 2022, Keystone Realtors have developed 20.22 million square feet of high-value and affordable residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks and various other real estate projects.
As part of the business model, the company is entering into joint development agreements, redevelopment agreements with landowners or developers or societies, and slum rehabilitation projects, which requires lower upfront capital investment compared to direct acquisition of land parcel.
The company have adopted an integrated real estate development model for every stage of the property development life cycle, commencing from business development, which involves the identification of land parcels and the conceptualization of the development, to execution, comprising planning, designing and overseeing the construction activities, marketing and sales.
As of June 30, 2022, The company have developed over 280 buildings and homes for over 14,000 families.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31-Mar-19 | 4153.07 | 2142.65 | 137.74 | 1372.4 |
| 31-Mar-20 | 4415.31 | 1268.6 | 14.49 | 1220.26 |
| 31-Mar-21 | 3654.1 | 1177.27 | 231.82 | 2513.9 |
| 30-Jun-21 | 3676.24 | 91.4 | -0.97 | 1145.56 |
| 31-Mar-22 | 3876.84 | 1302.97 | 135.83 | 1557.96 |
| 30-Jun-22 | 3910.15 | 176 | 4.22 | 1468.83 |
| Amount in ₹ Crore | ||||
The market capitalization of Keystone Realtors IPO is Rs 6160.77 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 365.54 |
Each of the Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale.
The company propose to utilise the Net Proceeds towards funding the following objects:
1. Repayment/ prepayment, in full or part, of certain borrowings availed by the Company and/or certain of the Subsidiaries.
2. Funding acquisition of future real estate projects and general corporate purposes.
[Dilip Davda] Based on its current financial data, the issue appears fully priced, but considering growth prospects with projects on hand, well-informed cash surplus investors may consider the investment with a medium to long-term perspective. Read detail review...
The Keystone Realtors IPO is subscribed 2.01 times on November 16, 2022 7:00:00 PM. The public issue subscribed 0.53 times in the retail category, 3.84 times in the QIB category, and 3.03 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 3.84 |
| NII | 3.03 |
| bNII (bids above ₹10L) | 3.78 |
| sNII (bids below ₹10L) | 1.53 |
| Retail | 0.53 |
| Total | 2.01 |
| Listing Date | November 24, 2022 |
| BSE Script Code | 543669 |
| NSE Symbol | RUSTOMJEE |
| ISIN | INE263M01029 |
| Final Issue Price | ₹541 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹541.00 |
| ₹555.00 |
| ₹555.00 |
| ₹568.25 |
| ₹557.80 |
| NSE |
|---|
| ₹541.00 |
| ₹555.00 |
| ₹548.00 |
| ₹569.95 |
| ₹556.85 |
Keystone Realtors Limited
702, Natraj, MV Road Junction,
Western Express Highway,
Andheri (East), Mumbai, Maharashtra, 400069
Phone: +91 (22) 6676 6888
Email: cs@rustomjee.com
Website: https://www.rustomjee.com/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: rustomjee.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Keystone Realtors IPO is a main-board IPO of 11,737,523 equity shares of the face value of ₹10 aggregating up to ₹635.00 Crores. The issue is priced at ₹514 to ₹541 per share. The minimum order quantity is 27 Shares.
The IPO opens on November 14, 2022, and closes on November 16, 2022.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Keystone Realtors IPO using UPI as a payment gateway. Zerodha customers can apply in Keystone Realtors IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Keystone Realtors IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Keystone Realtors IPO opens on November 14, 2022 and closes on November 16, 2022.
Keystone Realtors IPO lot size is 27 Shares, and the minimum amount required is ₹14,607.
You can apply in Keystone Realtors IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Keystone Realtors IPO will be done on Monday, November 21, 2022, and the allotted shares will be credited to your demat account by Wednesday, November 23, 2022. Check the Keystone Realtors IPO allotment status.
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