Keystone Realtors IPO Details: Keystone Realtors announced the price range for its initial public offering on Nov 2022. The issue will be priced at ₹514 to ₹541 per share. The private market intelligence platform intends to raise between Rs. 850 crore through the IPO. It also stated that the IPO will begin on Nov 14, 2022.
Keystone Realtors IPO Details
|IPO Opening Date||Nov 14, 2022|
|IPO Closing Date||Nov 16, 2022|
|Price Band||₹514 to ₹541 per share|
|Lot Size||27 Shares|
|Issue Size (Rs. Cr.)||11,737,523 shares of ₹10 (aggregating up to ₹635 Cr)|
|Fresh Issue||10,351,201 shares of ₹10 (aggregating up to ₹560 Cr)|
|Offer for Sale||1,386,322 shares of ₹10 (aggregating up to ₹75 Cr)|
|Face Value||Rs. 10 per share|
|Issue Type||Book Built Issue IPO|
|Exchange Board||BSE, NSE|
|QIB Shares Offered||Not more than 50% of the Offe|
|Retail Shares Offered||Not more than 35% of the Offer|
|NII (HNI) Shares Offered||Not less than 15% of the Offer|
|Basis of Allotment Date||Nov 21, 2022|
|Initiation of Refunds||Nov 22, 2022|
|Credit of Shares to Demat Account||Nov 23, 2022|
|Keystone Realtors IPO Listing Date||Nov 24, 2022|
Keystone Realtors IPO Date
The Keystone Realtors’s IPO will launch its issue next week on Monday, November 14, 2022, and investors will be able to subscribe until Wednesday, November 16. On Friday, November 11, the company will make equity shares available to anchor investors.
Keystone Realtors IPO Issue Size
The Mumbai-based company now intends to raise ₹635 crore, according to the Red Herring Prospectus (RHP). The IPO size has been reduced from ₹850 crore previously.
Keystone Realtors IPO Price Band
The Keystone Realtors Limited IPO price band has been set at ₹514 to ₹541equity share for its ₹635 crore initial public offering (IPO).
Keystone Realtors IPO Lot Size
The Keystone Realtors IPO lot size is 27 shares. A retail-individual investor can apply for up to 13 lots (351 shares or ₹189,891).
Keystone Realtors Allotment Date and Listing Date
The tentative timing for the share allocation announcement is Nov 21, 2022. Keystone Realtors IPO listing date is Nov 24, 2022.
About Keystone Realtors Limited IPO
Keystone Realtors Limited, founded in 1995, is a well-known real estate developer. In India, the company primarily engages in real estate construction, development, and other related activities.
As of March 31, 2022, the company had 32 Completed Projects, 12 Ongoing Projects, and 19 Forthcoming Projects throughout the Mumbai Metropolitan Region (“MMR”), including a diverse range of projects in the affordable, mid and mass, aspirational, premium, and super premium categories, all under the Rustomjee brand.
Keystone Realtors has created 20.05 million square feet of high-value and affordable residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks, and other real estate projects as of March 31, 2022.
As part of the business model, the company enters into joint development agreements, redevelopment agreements with landowners, developers, or societies, and slum rehabilitation projects, which require less upfront capital investment than direct land acquisition.
The company has adopted an integrated real estate development model for each stage of the property development life cycle, beginning with business development, which includes identifying land parcels and conceptualising the development, and ending with execution, which includes planning, designing, and overseeing construction activities, marketing, and sales.
The company had developed over 280 buildings and homes for over 14,000 families as of March 31, 2022.
Promoters of Keystone Realtors IPO
Boman Rustom Irani, Percy Sorabji Chowdhry, and Chandresh Dinesh Mehta are the company promoters.