Keystone Realtors IPO subscription opens today: Check price band, allotment date and listing date

Keystone Realtors IPO Date, Price Band, Allotment Date, Listing Date: Keystone Realtors' Initial Public Offering (IPO) will open on Monday, November 14, for subscription. The subscription window for the IPO of the real estate developer will end on November 16. 

Keystone Realtors IPO Price Band

Keystone Realtors has fixed a price band of Rs 514-541 per share.

As part of the Offer for Sale (OFS), promoter Boman Rustom Irani will sell shares worth up to Rs 37.5 crore and stocks to the tune of Rs 18.75 crore each will be offloaded by Percy Sorabji Chowdhry and Chandresh Dinesh Mehta.

Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Investors can bid for a minimum of 27 equity shares with a face value of Rs 10 each and in multiples thereof.

The company had decided to allot 35.21 lakh equity shares to 16 anchor investors at Rs 541 apiece, taking the transaction size to Rs 190.5 crore, according to a circular uploaded on BSE website.

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Keystone Realtors has raised Rs 190 crore from anchor investors days before its initial public offering (IPO).

Abu Dhabi Investment Authority, Morgan Stanley and Saint Capital accounted for nearly 35 per cent of the anchor investor portion. Domestic mutual funds such as Aditya Birla Mutual Fund, IDFC Mutual Fund, Tata Mutual Fund and Quant Mutual Fund also participated in the anchor investor portion. SBI Life Insurance and HDFC Life Insurance Company too were part of the anchor investors.

Keystone Realtors IPO Allotment Date

Keystone Realtors’ allotment date is November 21.

Keystone Realtors IPO Listing Date NSE, BSE

Keystone Realtors’ IPO listing date is November 24, the company will be listed on both exchanges –BSE and NSE.

The company is engaged in selling properties under the brand 'Rustomjee' and is a prominent real estate developer. Founded in 1995, Keystone Realtors’ project includes a comprehensive range of projects under the affordable, mid and mass, aspirational, premium and super premium categories, all under their Rustomjee brand.

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