Bookbuilding IPO | ₹635 Cr | Listed at BSE, NSE | Mon, Nov 14, 2022 - Wed, Nov 16, 2022
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 per share. The lot size for an application is 27. The minimum amount of investment required by an retail is ₹14,607 (27 shares) (based on upper price). 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 Open
Mon, Nov 14, 2022
IPO Close
Wed, Nov 16, 2022
Issue Price
₹541 per share
Market Cap (Pre-IPO)
₹6,160.77 Cr
| IPO Date | 14 to 16 Nov, 2022 |
| Listed on | Thu, Nov 24, 2022 |
| Face Value | ₹10 per share |
| Price Band | ₹514 to ₹541 |
| Issue Price | ₹541 per share |
| Lot Size | 27 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 1,17,37,521 shares (agg. up to ₹635 Cr) |
| Fresh Issue | 1,03,51,201 shares (agg. up to ₹560 Cr) |
| Offer for Sale | 13,86,320 shares of ₹10 (agg. up to ₹75 Cr) |
| Share Holding Pre Issue | 10,35,26,222 shares |
| Share Holding Post Issue | 11,38,77,423 shares |
| BSE Script Code / NSE Symbol | 543669 / RUSTOMJEE |
| ISIN | INE263M01029 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 27 shares and in multiples thereof.
| 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 |
Keystone Realtors IPO raises ₹190.50 crore from anchor investors. Keystone Realtors IPO Anchor bid date is November 11, 2022.
📝 Anchor Investors Letter (PDF)
| Bid Date | Fri, Nov 11, 2022 |
| Shares Offered | 35,21,255 |
| Anchor Portion (₹ Cr.) | 190.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Dec 21, 2022 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Feb 19, 2023 |
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 | 30 Jun 2022 | 31 Mar 2022 | 30 Jun 2021 | 31 Mar 2021 | 31 Mar 2020 | 31 Mar 2019 |
|---|---|---|---|---|---|---|
| Assets | 3,910.15 | 3,876.84 | 3,676.24 | 3,654.10 | 4,415.31 | 4,153.07 |
| Total Income | 176.00 | 1,302.97 | 91.40 | 1,177.27 | 1,268.60 | 2,142.65 |
| Profit After Tax | 4.22 | 135.83 | -0.97 | 231.82 | 14.49 | 137.74 |
| NET Worth | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Reserves and Surplus | 0.00 | 0.00 | 0.00 | 0.00 | ||
| Total Borrowing | 1,468.83 | 1,557.96 | 1,145.56 | 2,513.90 | 1,220.26 | 1,372.40 |
| Amount in ₹ Crore | ||||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/ prepayment, in full or part, of certain borrowings availed by the Company and/or certain of the Subsidiaries; | 341.60 |
| 2 | Funding acquisition of future real estate projects and general corporate purposes | 182.86 |
| KPI | |
|---|---|
| Debt/Equity | 1.62 |
| RoNW | 14.97 |
| EBITDA Margin | 16.60% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 13.96 | |
| P/E (x) | 365.54 | |
| Promoter Holding | 96.71% | 87.92% |
| Market Cap | ₹6,160.77 Cr. |
The Keystone Realtors IPO is subscribed 2.01 times on November 16, 2022 7:00:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 3.84 | 24,70,816 | 94,77,918 |
| NII | 3.03 | 18,53,113 | 56,15,217 |
| bNII (bids above ₹10L) | 3.78 | 12,35,408 | 46,73,025 |
| sNII (bids below ₹10L) | 1.53 | 6,17,705 | 9,42,192 |
| Retail | 0.53 | 43,23,929 | 22,79,259 |
| Total | 2.01 | 86,47,858 | 1,73,72,394 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the BRLMs including underwriting commission, brokerage and selling commission, as applicable | 14.99 |
| 2 | Advertising and marketing expenses | 5.45 |
| 3 | Printing and stationery expenses | 1.23 |
| 4 | Fees payable to Registrar to the Offer | |
| 5 | Commission/processing fee for SCSBs, Sponsor Banks and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs (2)(3)(4)(5)(6) | 1.69 |
| 6 | Others (Listing fees, SEBI filing fees, upload fees, BSE & NSE processing fees, book building software fees and other regulatory expenses, fees for the legal counsels, Auditors, Practising Company Secretary, Architect, and the Independent Chartered Accountant appointed for the purpose of the Offer, and other miscellaneous expenses, etc.) | 16.94 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹541.00 | ₹541.00 |
| Open | ₹555.00 | ₹555.00 |
| Low | ₹555.00 | ₹548.00 |
| High | ₹568.25 | ₹569.95 |
| Last Trade | ₹557.80 | ₹556.85 |
Lead Manager Reports
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 Crores. The issue is priced at ₹541 per share. The minimum order quantity is 27.
The IPO opens on Mon, Nov 14, 2022, and closes on Wed, Nov 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 Mon, Nov 14, 2022 and closes on Wed, Nov 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 Wed, Nov 23, 2022. Check the Keystone Realtors IPO allotment status.
The Keystone Realtors IPO listing date is on Thu, Nov 24, 2022.
