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Nitesh Estates IPO is a book built issue of Rs 405.00 crores.
Nitesh Estates IPO bidding started from April 23, 2010 and ended on April 27, 2010. The shares got listed on BSE, NSE on May 13, 2010.
Nitesh Estates IPO price band is set at ₹54 to ₹56 per share. The minimum lot size for an application is 100 Shares. The minimum amount of investment required by retail investors is ₹5,600.
Axis Capital Limited, ICICI Securities Limited and Kotak Mahindra Capital Company Limited are the book running lead managers of the Nitesh Estates IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to Nitesh Estates IPO RHP for detailed information.
| IPO Date | April 23, 2010 to April 27, 2010 |
| Listing Date | May 13, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹54 to ₹56 per share |
| Lot Size | 100 Shares |
| Total Issue Size | 75,000,000 shares (aggregating up to ₹405.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 70,832,100 |
| Share holding post issue | 145,832,100 |
Nitesh Estates IPO offers 64,151,800 shares. 26,651,800 (41.54%) to QIB, 11,250,000 (17.54%) to NII, 26,250,000 (40.92%) to RII. 262,500 RIIs will receive minimum 100 shares and (sNII) and (bNII) will receive minimum 3,600 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 26,651,800 (41.54%) | NA |
| NII (HNI) Shares Offered | 11,250,000 (17.54%) | |
| Retail Shares Offered | 26,250,000 (40.92%) | 262,500 |
| Total Shares Offered | 64,151,800 (100%) |
Investors can bid for a minimum of 100 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 | 100 | ₹5,600 |
| Retail (Max) | 35 | 3500 | ₹196,000 |
| Lot Size Calculator | |||
The individual promoters of the Company are:
1. Mr. Nitesh Shetty; and
2. Ms. Pushpalatha V. Shetty.
The corporate promoter of the Company is Nitesh Industries Private Limited.
| Share Holding Pre Issue | 84.11% |
| Share Holding Post Issue | 40.86% |
Incorporated in 2004, Nitesh Estates Limited is in the business of real estate development, primarily residential projects in Bengaluru. They are also developing a hospitality project in Bengaluru and a residential and an office project in Kochi. Nitesh Estates is in the process of diversifying into the development of shopping-malls and are expanding geographic reach to Chennai and Goa. Company's residential projects include multi-unit apartment buildings targeted at high-income and middle-income customers. Nitesh Estates is also developing its first hospitality project, the first ‘Ritz-Carlton’ brand hotel in India, on Residency Road in the central business district of Bengaluru.
Nitesh Estates has developed three residential projects totalling 0.55 million sq. ft. of Saleable Area and Developable Area. Company is developing 5 residential, 1 hospitality and 1 office projects. Company also has 3 residential, 1 shopping-mall and 1 mixed-use real estate projects inline for future development.
Completed Projects of the Nitesh Estates are:
1. Nitesh Long Island, completed in 2009, a built-to-suit premium corporate residential project near Bellary Road, Bengaluru;
2. Nitesh Wimbledon Park, completed in 2007, a premium residential project, located on Race Course Road, Bengaluru; and
3. Nitesh Mayfair, completed in 2007, a premium residential project, located on Lavelle Road, Bengaluru.
Ongoing Projects are Nitesh Hyde Park, located at Bannerghatta Road, Nitesh Forest Hills in Whitefield, Nitesh Flushing Meadows in Whitefield, Nitesh Columbus Square at off Bellary Road, Nitesh Wimbledon Gardens (Residential)at Airport-Seaport road in Kochi, Nitesh Wimbledon Gardens (Commercial), located at Airport-Seaport road in Kochi and the 'Ritz-Carlton' brand hotel with 281 keys, located at Residency Road in the central business district of Bengaluru.
| Particulars | For the year/period ended (Rs. in Million) | ||||
| 30-Sep-09 | 31-Mar-09 | 31-Mar-08 | 31-Mar-07 | 31-Mar-06 | |
| Total Income | 458.47 | 868.89 | 688.73 | 240.15 | 223.59 |
| Profit After Tax (PAT) | 60.80 | 28.53 | 9.74 | 28.73 | 13.78 |
| KPI | Values |
|---|---|
| RoNW | 5.3% |
The objects of the Issue are to:
1. Acquire joint development rights of our Company;
2. Fund our existing Subsidiaries and the Associate company, for repayment/prepayment of loans, redemption of debentures, finance Ongoing Projects and finance the acquisition of joint development rights;
3. Repay certain loans of our Company; and
4. Fund the expenditure for general corporate purposes.
The Nitesh Estates IPO is subscribed 1.16 times on April 27, 2010 5:00:00 PM. The public issue subscribed 0.16 times in the retail category, 2.54 times in the QIB category, and 0.22 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 2.54 |
| NII | 0.22 |
| Retail | 0.16 |
| Total | 1.16 |
CRISIL has assigned an IPO Grade 2 to Nitesh Estates Ltd IPO. This means as per CRISIL company has 'below Average Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CRISIL IPO Grading Document for Nitesh Estates Ltd.
| Listing Date | May 13, 2010 |
| BSE Script Code | 533202 |
| NSE Symbol | NITESHEST |
| ISIN | INE639K01016 |
| Final Issue Price | ₹54 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹54.00 |
| ₹50.00 |
| ₹48.05 |
| ₹55.00 |
| ₹50.95 |
| NSE |
|---|
| ₹54.00 |
| ₹54.00 |
| ₹48.40 |
| ₹58.00 |
| ₹51.40 |
Nitesh Estates Limited
Nitesh Timesquare, 7th Floor
No. 8, M.G. Road,
Bengaluru 560 001, Karnataka, India
Phone: (91 80) 4017 4000
Email: investor@niteshestates.com
Website: http://www.niteshestates.com
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: nitesh.ipo@karvy.com
Website: https://kosmic.kfintech.com/ipostatus/
Nitesh Estates IPO is a main-board IPO of 75,000,000 equity shares of the face value of ₹10 aggregating up to ₹405.00 Crores. The issue is priced at ₹54 to ₹56 per share. The minimum order quantity is 100 Shares.
The IPO opens on April 23, 2010, and closes on April 27, 2010.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Nitesh Estates IPO opens on April 23, 2010 and closes on April 27, 2010.
Nitesh Estates IPO lot size is 100 Shares, and the minimum amount required is ₹5,600.
You can apply in Nitesh Estates 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 Nitesh Estates IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Nitesh Estates IPO allotment status.
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