Bookbuilding IPO | ₹405 Cr | Listed at BSE, NSE | Fri, Apr 23, 2010 - Tue, Apr 27, 2010
Nitesh Estates IPO is a book build issue of ₹405.00 crores. The issue is entirely a fresh issue of 7.50 crore shares of ₹405.00 crore.
Nitesh Estates IPO bidding started from Apr 23, 2010 and ended on Apr 27, 2010. The shares got listed on BSE, NSE on May 13, 2010.
Nitesh Estates IPO price band is set at ₹54 per share. The lot size for an application is 100. The minimum amount of investment required by an retail is ₹5,600 (100 shares) (based on upper price). The lot size investment for sNII is 38 lots (3,800 shares), amounting to ₹2,05,200, and for bNII, it is 186 lots (18,600 shares), amounting to ₹10,04,400.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Nitesh Estates IPO RHP for detailed Information.
IPO Open
Fri, Apr 23, 2010
IPO Close
Tue, Apr 27, 2010
Issue Price
₹54 per share
Market Cap (Pre-IPO)
₹787.49 Cr
| IPO Date | 23 to 27 Apr, 2010 |
| Listed on | Thu, May 13, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹54 to ₹56 |
| Issue Price | ₹54 per share |
| Lot Size | 100 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 7,50,00,000 shares (agg. up to ₹405 Cr) |
| Fresh Issue | 7,50,00,000 shares (agg. up to ₹405 Cr) |
| Share Holding Pre Issue | 7,08,32,100 shares |
| Share Holding Post Issue | 14,58,32,100 shares |
| BSE Script Code / NSE Symbol | 533202 / NITESHEST |
| ISIN | INE639K01016 |
Nitesh Estates IPO comprises a total issue size of 7,50,00,000 shares. Out of which, 3,75,00,000 (50.00%) are allocated to QIB, 1,12,50,000 (15.00%) allocated to NII 2,62,50,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 3,75,00,000 | 50.00% | NA |
| − Anchor Investor Shares Offered | 1,08,48,200 | 14.46% | NA |
| − QIB (Ex. Anchor) Shares Offered | 2,66,51,800 | 35.54% | NA |
| NII (HNI) Shares Offered | 1,12,50,000 | 15.00% | NA |
| Retail Shares Offered | 2,62,50,000 | 35.00% | 2,62,500 |
| Total Shares Offered | 7,50,00,000 | 100.00% |
Investors can bid for a minimum of 100 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹5,400 |
| Retail (Max) | 37 | 3,700 | ₹1,99,800 |
| S-HNI (Min) | 38 | 3,800 | ₹2,05,200 |
| S-HNI (Max) | 185 | 18,500 | ₹9,99,000 |
| B-HNI (Min) | 186 | 18,600 | ₹10,04,400 |
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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Acquire joint development rights by the Company | 24.00 |
| 2 | Fund the 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 | 937.64 |
| 3 | Repay certain loans of the Company | 41.54 |
| 4 | Fund the expenditure for general corporate purposes | 17.59 |
| KPI | |
|---|---|
| RoNW | 5.3% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 84.11% | 40.86% |
| Market Cap | ₹787.49 Cr. |
The Nitesh Estates IPO is subscribed 1.16 times on April 27, 2010 5:00:00 PM (Day 3). 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) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.54 | 2,66,51,800 | |
| NII | 0.22 | 1,12,50,000 | |
| Retail | 0.16 | 2,62,50,000 | |
| Total | 1.16 | 6,41,51,800 |
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.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees of the Lead Managers (including Underwrighting & Selling commission ) | 13.80 |
| 2 | Registrar’s fees | 0.06 |
| 3 | Advertising and marketing expenses | 6.07 |
| 4 | Printing and distribution expenses | 1.65 |
| 5 | IPO Grading expenses | 0.05 |
| 6 | Advisors | 0.61 |
| 7 | Bankers to the Issue | |
| 8 | Legal Expenses | 2.43 |
| 9 | Others (SEBI filing fees, bidding software expenses, depository charges, listing fees, etc.) | 2.61 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹54.00 | ₹54.00 |
| Open | ₹50.00 | ₹54.00 |
| Low | ₹48.05 | ₹48.40 |
| High | ₹55.00 | ₹58.00 |
| Last Trade | ₹50.95 | ₹51.40 |
Lead Manager Reports
Nitesh Estates IPO is a main-board IPO of 7,50,00,000 equity shares of the face value of ₹10 aggregating up to ₹405 Crores. The issue is priced at ₹54 per share. The minimum order quantity is 100.
The IPO opens on Fri, Apr 23, 2010, and closes on Tue, Apr 27, 2010.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Nitesh Estates IPO using UPI as a payment gateway. Zerodha customers can apply in Nitesh Estates IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Nitesh Estates IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Nitesh Estates IPO opens on Fri, Apr 23, 2010 and closes on Tue, Apr 27, 2010.
Nitesh Estates IPO lot size is 100, and the minimum amount required for application is ₹5,400.
You can apply in Nitesh Estates 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 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.
The Nitesh Estates IPO listing date is on Thu, May 13, 2010.
