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)
| Particulars | Period ended on 30th June 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 | FY 2018-19 |
|---|---|---|---|---|---|
| Total Assets | 3910.15 | 3876.84 | 3654.10 | 4415.31 | 4153.07 |
| Revenue from operations | 176 | 1302.97 | 1177.27 | 1268.6 | 2142.65 |
| Profit After Tax | 4.22 | 135.83 | 231.82 | 14.49 | 137.74 |
| Total Borrowing | 1468.83 | 1557.96 | 2513.69 | 1220.26 | 1372.40 |
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 Type | Book Built Issue IPO |
| IPO Price | Rs 514 to Rs 541 per share |
| Face Value | Rs 10 per share |
| Market Lot | 27 shares |
| Issue Size | 1,17,37,523 shares of Rs 10 (Aggregating up to Rs 635 Crore) |
| Fresh Issue | 1,03,51,201 shares of Rs 10 (Aggregating up to Rs 560 Crore) |
| Offer for Sale | 13,86,322 shares of Rs 10 (Aggregating up to Rs 75 Crore) |
| QIB Shares Offered | Not more than 50% of the Offer |
| NII (HNI) Shares Offered | Not less than 15% of the Offer |
| Retail Shares Offered | Not less than 35% of the Offer |
| Listing At | BSE, NSE |
| Promoters | 1. Boman Rustom Irani 2. Percy Sorabji Chowdhry 3. Chandresh Dinesh Mehta |
Important Date – Keystone Realtors Limited IPO
| IPO opens on | Nov 14, 2022 |
| IPO closes on | Nov 16, 2022 |
| Basis of Allotment publication date | Nov 21, 2022 |
| Initiation of Refund | Nov 22, 2022 |
| Credit of shares to Demat Account | Nov 23, 2022 |
| IPO listing | Nov 24, 2022 |
Lot Size – Keystone Realtors IPO
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 27 | Rs 14,607 |
| Retail (Max) | 13 | 351 | Rs 1,89,891 |
| S-HNI (Min) | 14 | 378 | Rs 2,04,498 |
| B-HNI (Min) | 69 | 1,863 | Rs 10,07,883 |
Promoter Holding – Keystone Realtors IPO
| Pre issue share holding | 96.71% |
| Post issue share holding | 87.92% |
Also read: Uniparts India Limited IPO
SWOT Analysis – Keystone Realtors IPO
STRENGTH
- Well established customer-centric brand in the Mumbai Metropolitan Region.
- Amongst the leading residential real estate development companies in MMR with a well-diversified portfolio and strong pipeline.
- Asset-light and scalable model resulting in profitability and stable financial performance
- Demonstrated project execution capabilities with in-house functional expertise.
- Robust stakeholder management capabilities across the spectrum of project development.
- Technology focused operations resulting in operational efficiency and enhancing customer experiences.
- Strong focus on sustainable development.
WEAKNESS
- There are certain outstanding legal proceedings against company.
OPPORTUNITY
- Rapid urbanization is expected to drive the demand for housing, offices and other real estate asset classes in the medium – long term.
THREAT
- 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.
- Change is consumer preference over various market segments.
- Competition from various national and regional real estate developers.
- Changes in technology.
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Keystone Realtors Limited 702, Natraj, MV Road Junction, Western Express Highway, Andheri (East), Mumbai, Maharashtra, India 400069 Phone: +91 (22) 6676 6888 Email: [email protected] Website: https://www.rustomjee.com/ |
| IPO Registrar | Link 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
How to apply for IPO?
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.
When Keystone Realtors Limited IPO allotment?
The allotment date of Keystone Realtors Limited IPO is November 21, 2022.
What is the lot size of IPO?
The lot size of Keystone Realtors Limited is 27 shares.
When Keystone Realtors Limited IPO listed?
Keystone Realtors Limited IPO listed on November 24, 2022.
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