Mumbai-based real estate company Keystone Realtors Ltd., the parent company of the Rustomjee brand, launched its maiden initial public offering between Nov. 14-16.
The Mumbai-based realtor is raising Rs 560 crore via fresh issue, and Rs 75 crore through an offer for sale. It is offering around 13.86 lakh equity shares at Rs 514-541 apiece in the IPO.
The company is valued at close to Rs 6,061 crore at the upper end of the price band. Promoters and promoter groups will hold 86.7% of the post-offer issued, and paid-up equity share capital. The company is offering 10% of the post-issue equity capital during the IPO.
The company has said it will utilise at least Rs 341.6 crore from the proceeds of the offering to complete repayment or prepayment of certain borrowings.
Subscription Status: Day 1
The IPO was subscribed 0.08 times, or 8%, as of 5:00 p.m. on Nov. 14.
Institutional investors: 0 times
Non-institutional investors: 0.11 times
Retail investors: 0.12 times
Watch BQ Prime's IPO Adda With Rustomjee Management:
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
