Keystone Realtors IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 16, 2022Keystone Realtors Limited is all set to floor its IPO on 14th November. The company has proposed the IPO to raise funds of up to Rs. 635 crores.
The company will be offering equity shares in the form of a Fresh share issue and an offer for sale.
Details of the Keystone Realtors IPO, like lot size, price band, and IPO dates, have been declared by the company. Have a look at all these details along with other aspects through Keystone Realtors IPO Review.
| Face Value | Rs 10 |
| Price Band | Rs 514 – 541 |
| Listing At | NSE, BSE |
| Min. Order Quantity | 27 Shares |
| Listing Date | Nov 24, 2022 |
| Offer for Sale | 75.00 Cr |
| Fresh Issue | 560.00 Cr |
| IPO Size | 635.00 Cr |
| Tick Size | 1 |
Keystone Realtors IPO Overview
Keystone Realtors IPO is a combination of a Fresh Issue of Equity shares and an Offer for Sale. The company is offering up to 11,737,523 equity shares having a face value of Rs. 10 each to the public.
The IPO subscription will be open from 14th November to 16th November. Interested bidders can bid in the IPO during this period and attempt to secure equity shares in their favor.
Keystone Realtors IPO Important Dates
| Events | Date |
| IPO Opening Date | Nov 14, 2022 |
| IPO Closing Date | Nov 16, 2022 |
| Basis of Allotment Finalization | Nov 21, 2022 |
| Refunds Initiation | Nov 22, 2022 |
| CThe creditof Shares to Demat Account | Nov 23, 2022 |
| Share Listing Date | Nov 24, 2022 |
Keystone Realtors IPO Dates have been declared now; the company is opening the IPO on the 14th of November. The IPO will remain open for a period of three consecutive days and will close on the 16th of November.
Further, post the IPO subscription, the company will determine the basis of allotment on 21st November according to the subscription levels and demand of the shares in the market.
Keystone Realtors IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs 514 – 541 |
| Offer for Sale | 75.00 Cr |
| Fresh Issue | 560.00 Cr |
| IPO Size | 635.00 Cr |
Keystone Realtor’s IPO size comprises up to 11,737,523 equity shares. The company will be raised to Rs. 635 crores through the IPO.
The Price band for the IPO ranges between Rs. 514 to Rs. 541 per share. The Keystone Realtors IPO Price will be determined through the book Building Process. The face value of the equity shares is Rs. 10 each.
Interested retail investors can bid in the IPO in lots. Each lot is formed of 27 shares. The bids will be placed in lots.
Keystone Realtors IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| NA | NA | NA | NA |
Grey Market Premium is the premium at which the equity shares are traded in the Grey Market. Grey Market is an unofficial and unregulated market for the trading of goods and, in the trading region, the trading of marketable securities. Companies test the demand for their shares before the opening of an IPO in the official market.
Investors and traders can check out the Keystone Realtors IPO GMP from the above table for reference while investing in the IPO.
Keystone Realtors IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 14th Nov | 0.00x | 0.11x | 0.12x | 0.08x |
| 2nd Day – 15th Nov | 0.49x | 0.72x | 0.24x | 0.41x |
| 3rd Day – 16th Nov | 3.84x | 3.03x | 0.53x | 2.01x |
| Shares Offered or Net Issue | 2,470,816 | 1,853,113 | 4,323,929 | 8,647,858 |
Equity shares of Keystone Realtors Limited are being offered in the market through an IPO and the face value of the offered shares is Rs. 10 each.
The company is a public sector enterprise entirely owned by the Government of India (GoI) and now they are planning to disinvest their holding in the company through a public offer.
The Keystone Realtors IPO Subscription will take place in the following manner. 50% of the offer will be reserved for Qualified Institutional Buyers (QIBs), a further 15% of the offer will be made available for Non-Institutional Buyers, and the remaining 35% of the offer will be reserved for Retail Investors.
Keystone Realtors IPO Allotment Status
Keystone Realtor’s IPO Allotment will be done right after the IPO is closed. The company will finalize the basis of allotment and make the allotment to the successful bidders. The shares will be credited online in the Demat Accounts of the bidders.
Once the allotment is completed, the company will list the shares on the stock exchange and join the hundreds of listed entities.
Keystone Realtors IPO Live Performance
Check out the latest on Keystone Realtor’s IPO Price and its performance. Invest in the IPO after information on all the important and sensitive aspects of the company and its operations.
Subscribe to Keystone Realtors IPO – Open Free Demat Account Now!
Keystone Realtors – Company Review
Keystone Realtors Limited was started in 1995 and has now emerged as one of the most reputed real estate developers. The company’s business operations primarily revolve around real estate construction, development, and other related activities in India.
The company has wide operations and has undertaken numerous projects. The company offers quality and highly efficient services and the end customers.
As of June 30, 2022, the company developed 20.22 million square feet and provided affordable and high-value residential buildings, schools, retail buildings, corporate parks, and so on.
Products or Services
Keystone Realtors is a construction-based company that offers a wide variety of services to customers.
Talking about the projects, Keystone Realtors has undertaken various projects, including 32 Completed Projects, 12 Ongoing Projects, and over 21 projects in the future. These projects can be categorized into affordable, aspirational, premium, and super premium categories.
The company operates under the Rustomjee Brand and proffers its offerings in different regions.
Promoters and Holding
The Promoters of Keystone Realtors Limited are:
- Boman Rustom Irani
- Percy Sorabji Chowdhry
- Chandresh Dinesh Mehta
The management of the company comprises of:
- Boman Rustom Irani, in the position of Chairman and Managing Director
- Percy Sorabji Chowdhry, in the position of Executive Director
- Chandresh Dinesh Mehta, in the position of Executive Director
- Ramesh Tainwala, in the position of Non-Executive Independent Director
- Rahul Gautam Divan, in the position of Non-Executive Independent Director
- Seema Mohapatra, in the position of Non-Executive Independent Director
- Sajal Gupta, in the position of Chief Financial Officer
- Venkatraman B., in the position of Chief Operating Officer
- Bimal K. Nanda, in the position of Group Company Secretary and Compliance Officer
- Rakesh Setia, in the position of Chief Sales Officer
- Mahesh Gera, in the position of Group Chief Human Resources Officer
- Harsh Chandra, in the position of Chief Executive Officer & Projects Head
Is Keystone Realtors good for Investment?
Keystone Realtors Limited is a construction company that has been present in the market for decades now. They undertake a variety of projects and have extensive experience in the market.
The company, to extend its operations in a new dimension, is planning to enter into joint development agreements with developers and landowners to lower the upfront capital investment requirements and smoothen the operations even more.
With an integrated real estate development model at every stage, the company ensures the utmost quality and strength. This process is for the property development life cycle and starts the business development stage involving the identification of land parcels and the conceptualization.
Keystone Realtors Financial Statements
| Amount (in INR & Million) | ||||
| 31-Dec-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Assets | 36,533.84 | 36,541.02 | 44,153.08 | 41,530.72 |
| Revenue |
10,550.51
|
11,772.66
|
12,685.99
|
21,426.47
|
| Expense |
9,341.59
|
8,760.22
|
12,055.89
|
19,599.33
|
| Profit After Tax |
958.21
|
2,318.23
|
144.94
|
1,377.43
|
The public sector enterprise engaged in multiple projects is also in a favorable position in terms of revenues.
Let’s go through the financial statements briefly of this company for the past three financial years. The company’s total revenue for 2021, 2020, and 2019 was Rs. 11,772.66 million, Rs. 12,685.99 million, and Rs. 21,426.47 million, respectively.
Further, the company’s profit for the previous has gone at a steady rate. The profit for 2021, 2020, and 2019 was Rs. 2,318.23 million, Rs. 144.94 million, and Rs. 1,377.43 million, respectively. There are certain factors that no entity can avoid and undergo its impacts, and Keystone Realtors is no exception.
EPS states the capacity of a company to offer income on the investment by the shareholders. The EPS of Keystone Realtors is in a good state, but not better than before. As of March 2021, the EPS was Rs. 31.04.
| Earnings per Equity Share (in Rs.) | ||||
| 31-Dec-21 | 31-Mar-21 | Mar-20 | 31-Mar-19 | |
| Basic & Diluted |
9.76
|
31.04
|
2.20
|
15.25
|
Keystone Realtors IPO Review
The Keystone Realtors IPO consists of fresh shares as well existing shares from the shareholders of the company. The company is well-known for its proficiency and well-developed strategies.
The company has efficient property development processes which ensure supreme delivery of the output in favour of the company and the customers.
Keystone Realtors IPO Details
Here are a few more details you need to know before investing in Keystone Realtors IPO –
Keystone Realtors IPO Issue Object
Keystone Realtors has proposed diverse objectives for making the IPO offer and some of the objectives are:
Keystone Realtors IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager based on the following qualitative and quantitative factors.
Qualitative factors are:
- Well-established customer-centric brand in the Mumbai Metropolitan Region;
- Among the leading residential real estate development companies in MMR with a well-diversified portfolio and strong pipeline;
- The asset-light and scalable model results 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; and8.Experienced Promoters, qualified senior management, good corporate governance and a committed employee base.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 31.04 |
38.77
|
80.06
|
| 31-Mar-20 |
2.20
|
5.14
|
– |
| Mar-19 |
15.25
|
25.18
|
– |
Keystone Realtors IPO Lead Managers
Here is the list of Lead managers –
- Axis Capital Limited
- Credit Suisse Securities(India) Private Limited
Keystone Realtors IPO Registrar to offer
Check out the details of the registrar here –
LINK INTIME INDIA PRIVATE LIMITED
C – 101, 247 Park, 1st Floor, L.B.S. Marg, Vikhroli (West), Mumbai 400083, Maharashtra, India
Tel: +91 22 49186200
Fax: +91 22 49186195
Website: www.linkintime.co.in
Email: rustomjee.ipo@linkintime.co.in
Investor Grievance ID: rustomjee.ipo@linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058
Keystone Realtors IPO – Other Details
- Statutory Auditor – Price Waterhouse Chartered Accountants LLP
- Legal Counsel to the Company – Trilega
- Bankers to the Company – NA
Keystone Realtors IPO – Conclusion
The company is offering equity shares through the fresh issue and offer for sale. The company’s operations, whether past or future ones, look highly profitable. The company has high potential and profitability scope in the future.
They are growing at a fast pace and are expanding their operations through joint ventures and adding more valuable projects.
To Subscribe to Keystone Realtors IPO – Open a Demat Account Now!
Keystone Realtors IPO Review FAQs
Check out the FAQs on Keystone Realtors IPO –
What is the Issue Size of Keystone Realtors IPO?
The Company is making an initial public offer of 11,737,523 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the new issue, Offer for sale, and net issue.
What is the Price band of Keystone Realtors IPO?
The price band for this particular IPO ranges between Rs.514 to 541. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Keystone Realtors IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Nov 14, 2022, while the closing date is set at Nov 16, 2022.
What is the Keystone Realtors IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on Nov 21, 2022, refund initiation is on Nov 22, 2022, credit of shares is on Nov 23, 2022, and share listing date is on Nov 24, 2022.
What is the Keystone Realtors IPO Listing Date?
Shares of this company shall be listed in the exchanges on Nov 24, 2022. The date, when the listing would be done, is stagnant on Nov 24, 2022.
Who is the Registrar of Keystone Realtors IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Ltd. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Divgi Torqtransfer IPO?
Here are the promoters of this IPO – BOMAN RUSTOM IRANI, PERCY SORABJI CHOWDHRY AND CHANDRESH DINESH MEHTA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Divgi Torqtransfer IPO?
They have obtained the GMP of this IPO and it is Rs. NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Divgi Torqtransfer IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Keystone Realtors Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Million is 2,318.23, 2020 is 144.94, and 2019 is 1,377.43.
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