Bookbuilding IPO | ₹[.] Cr | Listing at BSE, NSE |
SEBI returned the draft Initial Public Offer (IPO) documents of Neelkanth Realtors Ltd. on March 28, 2025, due to non-compliance with disclosure requirements as outlined in Schedule VI of ICDR regulations. Neelkanth Realtors Ltd. had filed the DRHP with SEBI on January 2, 2025 for Initial Public Offer (IPO).
Neelkanth Realtors Ltd. IPO was a Book Build Issue
The equity shares were proposed to be listed on NSE and BSE. Swastika Investmart Ltd. was the book running lead manager and MUFG Intime India Pvt.Ltd. was the registrar of the issue.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Thu, Jan 2, 2025 |
| Offer document returned | Fri, Mar 28, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
Incorporated in 1994, Neelkanth Relators Limited is engaged in the business of Real Estate. They are prominent real estate developers in Mumbai’s Eastern Suburbs and Thane City in the Mumbai Metropolitan Region.
The company specializes in unique residential and commercial developments across MMR's micro-markets, offering diverse projects tailored to community needs, ensuring customer satisfaction, and providing superior lifestyles with targeted amenities.
The company collaborates with architects like Shashikant Deshmukh & Associates and handles all aspects of real estate development in-house, including land acquisition, project execution, marketing, and sales through various partners.
The company offers a diverse portfolio of residential and commercial projects across various price points, unit sizes, and amenities, catering to mid-end, luxury, and ultra-luxury segments with strong execution capabilities.
The company was part of the Neelkanth Group, completing over 36 projects in Mumbai, including the Fortune 2000 commercial building and three residential buildings in Thane, with 778 units and 29 shops.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 300.08 | 309.52 | 281.15 | 245.53 |
| Total Income | 15.08 | 55.06 | 57.87 | 0.70 |
| Profit After Tax | 2.40 | 17.54 | 0.09 | -0.10 |
| NET Worth | 61.03 | 43.49 | 41.33 | |
| Reserves and Surplus | 63.08 | 60.68 | 43.14 | 40.97 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding a part of the costs to be incurred in the development of the Ongoing Projects, and the Upcoming Projects (Funding Development Expenses); | 67.83 |
| 2 | Repayment and/or pre-payment, in full or part, of certain outstanding borrowings availed by the Company; and | |
| 3 | General corporate purposes |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 33.48% |
| ROCE | 16.58% |
| Debt/Equity | 3.03 |
| RoNW | 33.48% |
| PAT Margin | 32.37% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | BRLMs fees and commissions (including underwriting commission, brokerage and selling commission, as applicable) | |
| 2 | Commission/processing fee for SCSBs, Sponsor Bank(s) and Bankers to the Offer. Brokerage, underwriting commission and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs | |
| 3 | Fees payable to the Registrar to the Issue | |
| 4 | Fees payable to the Industry data provider and Statutory Auditors | |
| 5 | Others: Listing fees, SEBI filing fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | |
| 6 | Printing and stationery | |
| 7 | Advertising and marketing expenses | |
| 8 | Fee payable to legal counsel | |
| 9 | Fee payable to monitoring agency | |
| 10 | Miscellaneous |
Lead Manager Reports
Neelkanth Realtors IPO is a main-board IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Neelkanth Realtors IPO open and close dates are not available as of now.
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 Neelkanth Realtors IPO using UPI as a payment gateway. Zerodha customers can apply in Neelkanth Realtors IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Neelkanth Realtors IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Neelkanth Realtors IPO dates are not announced. Please check back again after some time.
Neelkanth Realtors IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Neelkanth 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 Neelkanth Realtors IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Neelkanth Realtors IPO allotment status.
The Neelkanth Realtors IPO listing date is not yet announced. The tentative date of listing is .
