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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 ₹54.00 per share . The lot size for an application is 100. The minimum amount of investment required by an retail is ₹5,400 (100 shares). 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 Date | April 23, 2010 to April 27, 2010 |
| Listing Date | May 13, 2010 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹54 to ₹56 per share |
| Issue Price Final | ₹54 per share |
| Lot Size | 100 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 7,50,00,000 shares (aggregating up to ₹405.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 7,08,32,100 shares |
| Share Holding Post Issue | 14,58,32,100 shares |
Nitesh Estates IPO offers total 7,50,00,000 shares. Out of which 3,75,00,000 (50.00%) allocated to QIB, 2,66,51,800 (35.54%) allocated to QIB, 1,12,50,000 (15.00%) allocated to NII, 2,62,50,000 (35.00%) allocated to RII and 1,08,48,200 (14.46%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum 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%) |
Nitesh Estates IPO opens on April 23, 2010, and closes on April 27, 2010.
| IPO Open Date | Fri, Apr 23, 2010 |
| IPO Close Date | Tue, Apr 27, 2010 |
| Tentative Listing Date | Thu, May 13, 2010 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Apr 27, 2010 |
Investors can bid for a minimum of 100 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 | 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 Company Nitesh Estates IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (in Millions) |
|---|---|---|
| 1 | Acquire joint development rights by the Company | 240.00 |
| 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 | 9,376.40 |
| 3 | Repay certain loans of the Company | 415.41 |
| 4 | Fund the expenditure for general corporate purposes | 175.89 |
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 |
| BSE Listing Group | B |
Nitesh Estates Ltd.
Nitesh Timesquare, 7th Floor
No. 8, M.G. Road,
Bengaluru 560 001, Karnataka, India
Bengaluru, Karnataka
Phone: (91 80) 4017 4000
Email: investor@niteshestates.com
Website: http://www.niteshestates.com
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: nitesh.ipo@karvy.com
Website: https://ipostatus.kfintech.com/
Nitesh Estates IPO is a main-board IPO of 7,50,00,000 equity shares of the face value of ₹10 aggregating up to ₹405.00 Crores. The issue is priced at ₹54 per share. The minimum order quantity is 100.
The IPO opens on April 23, 2010, and closes on April 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 April 23, 2010 and closes on April 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 Thursday, May 13, 2010.
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