Keystone Realtors Limited IPO Detail
Incorporated in 1995, Keystone Realtors Limited is one of the prominent real estate developer. The company is engaged primarily in the business of real estate construction, development and other related activities in India.
As of June 30, 2022, the company 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.
June 30, 2022, Keystone Realtors have developed 20.22 million square feet of high-value and affordable residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks and various other real estate projects.
As part of the business model, the company is entering into joint development agreements, redevelopment agreements with landowners or developers or societies, and slum rehabilitation projects, which requires lower upfront capital investment compared to direct acquisition of land parcel.
The company have adopted an integrated real estate development model for every stage of the property development life cycle, commencing from business development, which involves the identification of land parcels and the conceptualization of the development, to execution, comprising planning, designing and overseeing the construction activities, marketing and sales.
As of June 30, 2022, The company have developed over 280 buildings and homes for over 14,000 families.
Incorporated in 1995, Keystone Realtors Limited is one of the prominent real estate developer. The company is engaged primarily in the business of real estate construction, development and other related activities in India.
As of June 30, 2022, the company 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.
June 30, 2022, Keystone Realtors have developed 20.22 million square feet of high-value and affordable residential buildings, premium gated estates, townships, corporate parks, retail spaces, schools, iconic landmarks and various other real estate projects.
As part of the business model, the company is entering into joint development agreements, redevelopment agreements with landowners or developers or societies, and slum rehabilitation projects, which requires lower upfront capital investment compared to direct acquisition of land parcel.
The company have adopted an integrated real estate development model for every stage of the property development life cycle, commencing from business development, which involves the identification of land parcels and the conceptualization of the development, to execution, comprising planning, designing and overseeing the construction activities, marketing and sales.
As of June 30, 2022, The company have developed over 280 buildings and homes for over 14,000 families.
Company Promoters
Boman Rustom Irani, Percy Sorabji Chowdhry, and Chandresh Dinesh MehtaIPO Details
| IPO Opening Date | Nov 14, 2022 |
| IPO Closing Date | Nov 16, 2022 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹514 - 541 per equity share |
| Market Lot | 27 Shares |
| Min Order Quantity | 27 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹635.00 Cr |
| Fresh Issue | ₹560.00 Cr |
| Offer for Sale | ₹75.00 Cr |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0x | - | - | 0.11x | 0.12x | 0.08x |
| Day 2 | 0.49x | - | - | 0.72x | 0.24x | 0.41x |
| Day 3 | 3.83x | - | - | 3.03x | 0.53x | 2.01x |
IPO Tentative Timetable
The Keystone Realtors Limited IPO open date is Nov 14, 2022, and the close date is Nov 16, 2022. The issue may list on Nov 24, 2022.
| IPO Open Date | Nov 14, 2022 |
| IPO Close Date | Nov 16, 2022 |
| Basis of Allotment Date | Nov 21, 2022 |
| Initiation of Refunds | Nov 22, 2022 |
| Credit of Shares to Demat Account | Nov 23, 2022 |
| IPO Listing Date | Nov 24, 2022 |
IPO Lot Size
The Keystone Realtors Limited IPO market lot size is 27 shares. A retail-individual investor can apply for up to 13 lots (351 shares or ₹189891).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 27 | ₹14607 |
| Maximum | 13 | 351 | ₹189891 |
IPO Promoter Holding
| Pre Issue Share Holding | 96.71% |
| Post Issue Share Holding | 87.92% |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 4415.31 | 1268.6 | 14.49 |
| 31-Mar-21 | 3654.1 | 1177.27 | 231.82 |
| 31-Mar-22 | 3876.84 | 1302.97 | 135.83 |
Objects of the Issue:
Each of the Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale.
The company propose to utilise the Net Proceeds towards funding the following objects:
1. Repayment/ prepayment, in full or part, of certain borrowings availed by the Company and/or certain of the Subsidiaries.
2. Funding acquisition of future real estate projects and general corporate purposes.
Keystone Realtors Limited IPO Registrar:
Link Intime India Private Ltd
Keystone Realtors Limited IPO Lead Manager(s):
Axis Capital Limited Credit Suisse Securities (India) Private Limited
Company Contact Information:
Keystone Realtors Limited
702, Natraj, MV Road Junction,
Western Express Highway,
Andheri (East), Mumbai, Maharashtra, 400069
