Select Page

Keystone Realtors IPO Details

Keystone Realtors IPO Details

Keystone Realtors IPO open on November 14 and closes on November 16, 2022. According to the DRHP filed by the company with SEBI, they are planning to issue 1,17,37,523 shares of Rs 10 each aggregating up to Rs 635 Crore through this public issue.

Incorporated in 1995. In the micro markets, the company is one of the most well-known real estate developers (in terms of unit absorption). In terms of absorption (in units) from 2017 to 2021, it holds a market share of 28% in Khar, 23% in Juhu, 11% in Bandra East, 14% in Virar, 3% in Thane, and 5% in Bhandup.

A broad range of projects in the inexpensive, mid- and mass-market, aspirational, premium, and super-premium categories, all under the Rustomjee brand, were among the company’s 32 finished projects, 12 ongoing projects, and 19 forthcoming projects as of March 31, 2022.

By March 31, 2022, it has created 20.05 million square feet of high-end and reasonably priced residential structures, prestigious gated estates, townships, corporate parks, retail spaces, educational facilities, famous landmarks, and numerous other real estate projects.

The business has chosen an integrated real estate development methodology, and it has the skills and internal resources to carry out projects from start to finish.

Objects of the Issue

The company proposes to utilize the Net Proceeds of the Fresh Issue 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.

Financial Highlights (Restated)

ParticularsPeriod ended on 30th June 2022FY 2021-22FY 2020-21FY 2019-20FY 2018-19
Total Assets3910.153876.843654.104415.314153.07
Revenue from operations1761302.971177.271268.62142.65
Profit After Tax4.22135.83231.8214.49137.74
Total Borrowing1468.831557.962513.691220.261372.40
(Rs in Crore)

Keystone Realtors IPO – Details

According to the DRHP filed by the company with SEBI, they are planning to issue 1,17,37,523 shares of Rs 10 each aggregating up to Rs 635 Crore through this public issue.

Issue TypeBook Built Issue IPO
IPO PriceRs 514 to Rs 541 per share
Face ValueRs 10 per share
Market Lot27 shares
Issue Size1,17,37,523 shares of Rs 10 (Aggregating up to Rs 635 Crore)
Fresh Issue1,03,51,201 shares of Rs 10 (Aggregating up to Rs 560 Crore)
Offer for Sale13,86,322 shares of Rs 10 (Aggregating up to Rs 75 Crore)
QIB Shares OfferedNot more than 50% of the Offer
NII (HNI) Shares OfferedNot less than 15% of the Offer
Retail Shares OfferedNot less than 35% of the Offer
Listing AtBSE, NSE
Promoters1. Boman Rustom Irani
2. Percy Sorabji Chowdhry
3. Chandresh Dinesh Mehta  

Important Date – Keystone Realtors Limited IPO

IPO opens onNov 14, 2022
IPO closes onNov 16, 2022
Basis of Allotment publication dateNov 21, 2022
Initiation of RefundNov 22, 2022
Credit of shares to Demat AccountNov 23, 2022
IPO listingNov 24, 2022

Lot Size – Keystone Realtors IPO

ApplicationsLotsSharesAmount
Retail (Min)127Rs 14,607
Retail (Max)13351Rs 1,89,891
S-HNI (Min)        14378Rs 2,04,498
B-HNI (Min)        691,863Rs 10,07,883

Promoter Holding – Keystone Realtors IPO

Pre issue share holding96.71%
Post issue share holding87.92%

Also read: Uniparts India Limited IPO

SWOT Analysis – Keystone Realtors IPO

STRENGTH

  1. Well established customer-centric brand in the Mumbai Metropolitan Region.
  2. Amongst the leading residential real estate development companies in MMR with a well-diversified portfolio and strong pipeline.
  3. Asset-light and scalable model resulting in profitability and stable financial performance
  4. Demonstrated project execution capabilities with in-house functional expertise.
  5. Robust stakeholder management capabilities across the spectrum of project development.
  6. Technology focused operations resulting in operational efficiency and enhancing customer experiences.
  7. Strong focus on sustainable development.

WEAKNESS

  1. There are certain outstanding legal proceedings against company.

OPPORTUNITY

  1. Rapid urbanization is expected to drive the demand for housing, offices and other real estate asset classes in the medium – long term.

THREAT

  1. An inability to complete our Ongoing Projects and Forthcoming Projects by their respective expected completion dates or at all could have a material adverse effect on company business, results of operations and financial condition.
  2. Change is consumer preference over various market segments.
  3. Competition from various national and regional real estate developers.
  4. Changes in technology.

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationKeystone Realtors Limited
702, Natraj, MV Road Junction, Western Express Highway,
Andheri (East), Mumbai, Maharashtra, India 400069
Phone: +91 (22) 6676 6888
Email: [email protected]
Websitehttps://www.rustomjee.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/
IPO Lead Manager(s)1. Axis Capital Limited
2. Credit Suisse Securities (India) Private Limited

FAQ’s

The best way to apply in Keystone Realtors public offer is through Internet banking ASBA. You can also apply online through your stock broker using UPI.

The allotment date of Keystone Realtors Limited IPO is November 21, 2022.

The lot size of Keystone Realtors Limited is 27 shares.

Keystone Realtors Limited IPO listed on November 24, 2022.

Leave a reply

Your email address will not be published. Required fields are marked *

Current IPO (Main Board)

Issuer CompanyOpenClose
Tata Technologies Ltd.--
Plaza Wires Ltd.29-Sep-234-Oct-23
27-Sep-233-Oct-23
Updater Services Ltd.25-Sep-2327-Sep-23
JSW Infrastructure ltd.25-Sep-2327-Sep-23
22-Sep-2326-Sep-23
20-Sep-2322-Sep-23
20-Sep-2322-Sep-23
Yatra Online Ltd.15-Sep-2320-Sep-23
14-Sep-2318-Sep-23

SME IPO

Issuer CompanyOpenClose
Rajgor Castor Derivatives Ltd.17-Oct-2320-Oct-23
WomanCart Ltd.16-Oct-2318-Oct-23
12-Oct-2316-Oct-23
Committed Cargo Care Ltd.6-Oct-2310-Oct-23
29-Sep-234-Oct-23
Karnika Industries Ltd.29-Sep-234-Oct-23
Plada Infotech Services Ltd.29-Sep-234-Oct-23
29-Sep-234-Oct-23
29-Sep-234-Oct-23
Vivaa Tradecom Ltd.27-Sep-234-Oct-23

RECENT COMMENT