Rustomjee Group firm Keystone Realtors IPO GMP Today, Keystone Realtors IPO Details, Keystone Realtors IPO Date, Keystone Realtors Listing Date, Keystone Realtors Allotment Date:
Keystone Realtors is coming out with a fresh public issue to raise Rs. 635 crores from the market. Issue details follow:
Issue details follow: Keystone Realtors IPO
- Issue open – Nov 14 to 16 (Monday to Wednesday)
- Issue size – Rs. 635 crores
- Price band – Rs. 514 – 541 per equity share
- Bid lot – 27 shares and in multiples thereof
Company Details – Keystone Realtors IPO
- Keystone Realtors Ltd (“Rustomjee”) was incorporated on November 6, 1995. Rustomjee is one of the prominent real estate developers (in terms of absorption in number of units) in the micro markets. They command a market share of 28% in Khar, 23% market in Juhu, 11% in Bandra East, 14% in Virar, 3% in Thane and 5% in Bhandup in terms of absorption (in units) from 2017 to 2021. As of June 30, 2022, they 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.
- As of June 30, 2022, they have developed over 20 msf of high-value and affordable residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks and various other real estate projects.
- Some of their notable projects includes.
- Rustomjee Elements, a large gated community in Upper Juhu, Mumbai.
- Rustomjee Paramount, a signature complex in Khar, Mumbai
- Rustomjee Seasons, a 3.82 acres gated community in Bandra Annexe, Mumbai;
- Rustomjee Crown, a 5.75 acres land parcel for high-end development at Prabhadevi, South Mumbai.
- Rustomjee has adopted an integrated real estate development model, with capabilities and in-house resources to execute projects from its initiation to completion. As of June 30, 2022, they had 1,542 channel partners who present the Rustomjee portfolio to their customers.
- Rustomjee uses 3-dimensional building information modelling (“BIM”) software for model-based construction which visualises projects in pre-construction and allows for better coordination among in-house teams, contractors and external consultants. In addition, they currently have partnerships with strategic investors such as HDFC Capital Affordable Real Estate Fund-3. They also have strategic investors such as Lipalton Pte. Ltd. for Rustomjee Urbania. In the past, they received equity investments from Giza and HDFC Capital Affordable Real Estate Fund – 1 for Rustomjee Urbania.
Issue Size: Rs. 635 crores
- QIB – 50% of the offer – Rs. 317.50 crores
- NIB – 15% of the offer – Rs. 95.25 crores
- RET – 35% of the offer – Rs. 222.25 crores
Listing: NSE and BSE | Registrar: Link Intime India Private Limited
Keystone Realtors IPO GMP Today
The GMP Kostak rate and the Sauda obligation got revised for the Keystone Realtors IPO. Keystone Realtors IPO Grey Market Premium has yet to be begun with high premium rates.
It will take a few days for the market sentiment to shift, at which point the rates will have stabilized or changed. Keystone Realtors IPO GMP Today offering is $0.
Keystone Realtors IPO Share Price
|IPO Open:||Nov 14, 2022|
|IPO Close:||Nov 16, 2022|
|IPO Size:||₹635 Crores|
|Price Band:||₹514 to ₹541 per share|
|Listing on:||BSE & NSE|
|Retail Portion:||Not less than 35% of the Offer|
|Face Value:||₹10 per share|
Keystone Realtors IPO Allotment & Listing Dates
|Price Band Announcement:||November 8, 2022|
|Anchor Investors Allotment:||November 13, 2022|
|IPO Open Date:||November 14, 2022|
|IPO Close Date:||November 16, 2022|
|Basis of Allotment:||November 21, 2022|
|Refunds:||November 22, 2022|
|Credit to Demat Account:||November 23, 2022|
|Keystone Realtors IPO Listing Date:||November 24, 2022|