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Keystone Realtors IPO is a book build issue of ₹635.00 crores. The issue is a combination of fresh issue of 1.04 crore shares aggregating to ₹560.00 crores and offer for sale of 0.14 crore shares aggregating to ₹75.00 crores.
Keystone Realtors IPO bidding started from Nov 14, 2022 and ended on Nov 16, 2022. The allotment for Keystone Realtors IPO was finalized on Nov 21, 2022. The shares got listed on BSE, NSE on Nov 24, 2022.
Keystone Realtors IPO price band is set at ₹541.00 per share . The lot size for an application is 27. The minimum amount of investment required by an retail is ₹13,878 (27 shares). The lot size investment for sNII is 14 lots (378 shares), amounting to ₹2,04,498, and for bNII, it is 69 lots (1,863 shares), amounting to ₹10,07,883.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of 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 |
| Issue Price Band | ₹514 to ₹541 per share |
| Issue Price Final | ₹541 per share |
| Lot Size | 27 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 1,17,37,521 shares (aggregating up to ₹635.00 Cr) |
| Fresh Issue | 1,03,51,201 shares (aggregating up to ₹560.00 Cr) |
| Offer for Sale | 13,86,320 shares of ₹10 (aggregating up to ₹75.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 10,35,26,222 shares |
| Share Holding Post Issue | 11,38,77,423 shares |
Keystone Realtors IPO offers total 1,17,37,521 shares. Out of which 58,68,759 (50.00%) allocated to QIB, 23,47,504 (20.00%) allocated to QIB, 17,60,629 (15.00%) allocated to NII, 41,08,133 (35.00%) allocated to RII and 35,21,255 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 58,68,759 (50.00%) | NA |
| − Anchor Investor Shares Offered | 35,21,255 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 23,47,504 (20.00%) | NA |
| NII (HNI) Shares Offered | 17,60,629 (15.00%) | NA |
| − bNII > ₹10L | 11,73,752 (10.00%) | 3,105 |
| − sNII < ₹10L | 5,86,877 (5.00%) | 1,552 |
| Retail Shares Offered | 41,08,133 (35.00%) | 1,52,153 |
| Total Shares Offered | 1,17,37,521 (100.00%) |
Keystone Realtors IPO raises ₹190.50 crore from anchor investors. Keystone Realtors IPO Anchor bid date is November 13, 2022. Keystone Realtors IPO Anchor Investors list
| Bid Date | November 13, 2022 |
| Shares Offered | 35,21,255 |
| Anchor Portion Size (In Cr.) | 190.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | December 21, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 19, 2023 |
Keystone Realtors IPO opens on November 14, 2022, and closes on November 16, 2022.
| IPO Open Date | Mon, Nov 14, 2022 |
| IPO Close Date | Wed, Nov 16, 2022 |
| Tentative Allotment | Mon, Nov 21, 2022 |
| Initiation of Refunds | Tue, Nov 22, 2022 |
| Credit of Shares to Demat | Wed, Nov 23, 2022 |
| Tentative Listing Date | Thu, Nov 24, 2022 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Nov 16, 2022 |
Investors can bid for a minimum of 27 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 27 | ₹14,607 |
| Retail (Max) | 13 | 351 | ₹1,89,891 |
| S-HNI (Min) | 14 | 378 | ₹2,04,498 |
| S-HNI (Max) | 68 | 1,836 | ₹9,93,276 |
| B-HNI (Min) | 69 | 1,863 | ₹10,07,883 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 ₹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...
| Listing Date | November 24, 2022 |
| BSE Script Code | 543669 |
| NSE Symbol | RUSTOMJEE |
| ISIN | INE263M01029 |
| Final Issue Price | ₹541 per share |
| BSE Listing Group | B |
Keystone Realtors Ltd.
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/
MUFG Intime India Pvt.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 1,17,37,521 equity shares of the face value of ₹10 aggregating up to ₹635.00 Crores. The issue is priced at ₹541 per share. The minimum order quantity is 27.
The IPO opens on November 14, 2022, and closes on November 16, 2022.
MUFG Intime India Pvt.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, and the minimum amount required for application is ₹14,607.
You can apply in Keystone Realtors IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, 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.
The Keystone Realtors IPO listing date is on Thursday, November 24, 2022.
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