Keystone Realtors IPO Listing Price NSE, BSE: Positive stock market debut, check stop loss by Anil Singhvi | Keystone Share Price
Keystone Realtors IPO Listing Date, Time, Keystone Realtors IPO Listing Price NSE, BSE: Keystone Realtors, known for building premium residences under the brand 'Rustomjee', made its market debut today at a premium of 2.59 per cent as compared to its issue price of Rs 541. Keystone Realtors' stock is listed at Rs 555 on the NSE and BSE. According to Zee Business Managing Editor Anil Singhvi, short-term investors must keep a stop loss at Rs 525. The company's initial public offering (IPO) got bids for 1,73,72,367 shares against 86,47,858 shares on offer. The IPO had a fresh issue of up to Rs 560 crore and an offer for sale of up to Rs 75 crore.
Keystone Realtors IPO Listing Date, Time, Keystone Realtors IPO Listing Price NSE, BSE: Keystone Realtors, known for building premium residences under the brand 'Rustomjee', made its market debut today at a premium of 2.59 per cent as compared to its issue price of Rs 541. Keystone Realtors' stock is listed at Rs 555 on the NSE and BSE. According to Zee Business Managing Editor Anil Singhvi, short-term investors must keep a stop loss at Rs 525. The company's initial public offering (IPO) got bids for 1,73,72,367 shares against 86,47,858 shares on offer. The IPO had a fresh issue of up to Rs 560 crore and an offer for sale of up to Rs 75 crore.
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Keystone Realtors IPO Listing Price NSE, BSE
Qualified institutional buyers bought shares 3.84 times the allotted quota and high networth individuals three times their share, but retail investors stayed tepid to the issue, bidding for just 53 percent of the portion set aside for them.
Keystone Realtors IPO Listing Price NSE, BSE
The realty firm has developed 20.05 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 of March 2022.
Keystone Realtors IPO Listing Price NSE, BSE
Founded in 1995, Keystone Realtors has 32 completed projects, and has 12 ongoing projects and 19 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 Rustomjee brand.
Keystone Realtors IPO Listing Price NSE, BSE
The company intends to utilise the net proceeds towards funding the repayment/prepayment of borrowings to the tune of Rs 341.6 crore as well as towards funding the acquisition of future real estate projects and general corporate purposes.
Keystone Realtors IPO Listing Price NSE, BSE: Anil Singhvi's view for long-term investors
Zee Business Managing Editor Anil Singhvi said that long-term investors can hold shares. However, he asserted that short-term investors were not advised to subscribe to the IPO.