Keystone Realtors Limited initiated its business operations in 1995. It is one of the most prominent real estate developers in India. Its business activities includes real estate development, constriction and other activities. The company has a record of 32 completed projects, 12 ongoing projects and 21 upcoming projects till June 2022 in Mumbai. Its brand name is Rustomjee. Till June 2022 the company has developed 20.22 million square feet of area through its various projects.
The company has developed over 280 buildings for making homes of more than 14000 families.
IPO DETAILS
Keystone Realtors Limited IPO is set to launch on 14 Nov., 2022. The subscription timeline extends till 16 Nov., 2022. The size for the IPO is 635 Crore Rs.. Shares issued through Offer For Sale are worth 75 Crore Rs. Shares issued through Fresh Issue mode are worth Rs 560 Crore. The lot size is shares and the price range is Rs. – Rs./ share. The company is going to get listed at both the exchanges NSE and BSE. The face value per share is Rs. 10 and this is a book built issue. The registrar for the company is Link Intime India Private Limited.
TABULAR REPRESENTATION OF IPO DETAILS
| IPO OPENING DATE | 14 Nov., 2022 |
| CLOSING DATE FOR IPO | 16 Nov., 2022 |
| ISSUE TYPE | Book Built Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | Rs. – Rs. |
| LOT SIZE | shares |
| MINIMUM ORDER QUANTITY | shares |
| ISSUE SIZE | 635 Crore Rs. |
| OFFER FOR SALE | 75 Crore Rs. |
| FRESH ISSUE | 560 Crore Rs. |
| LISTING AT | NSE, BSE |
| LISTING DATE | 24 Nov., 2022 |
IMPORTANT DATES
| IPO OPENING DATE | 14 Nov., 2022 |
| CLOSING DATE FOR IPO | 16 Nov., 2022 |
| IPO ALLOTMENT DATE | 21 Nov., 2022 |
| REFUNDS | 22 Nov., 2022 |
| DEMAT A/C CREDITED ON | 23 Nov., 2022 |
| IPO LISTING DATE | 24 Nov., 2022 |
Keystone Realtors Limited IPO begins for subscription from 14 Nov., 2022. The IPO subscription would continue till 16 Nov, 2022. The allotment status for the shareholders who applied would come on 21 Nov., 2022. The refunds for the ones who did not get allotment would be initiated on 22 Nov., 2022. The DEMAT accounts of shareholders would be credited on 23 Nov., 2022. The listing of the company would be accompanied on 24 Nov., 2022.
Lead Managers
The lead managers are :
- Credit Suisse Securities India Private Limited
- Axis Bank Limited
The minimum lot size for the company is decided at shares. This holding accounts to Rs.. The maximum lot size is decided at shares. This amounts to Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | shares | Rs. |
| Maximum | shares | Rs. |
OBJECTIVES FOR THE IPO
- The funds may be used for general corporate purposes.
- The company needs the money for future acquisition of real estate.
- The money can be used for repayment of the company’s borrowings.
COMPANY FINANCIALS
| Particularly (in Crore Rs.) | 2021-22 | 2020-21 | 2019-20 |
| ASSETS | 3877 | 3654 | 4415 |
| Revenue | 1302 | 1177 | 1268 |
| PAT | 135.8 | 231.8 | 14.5 |
Keystone Realtors Limited has a stagnant and stable financial record overall. However its assets were 4415 Crore Rs in 2020 which decreased to 3654 Crore Rs in 2021. Following this in 2022 the assets again increased to 3877 Crore Rs. Hence the company is not holding many assets on its business segment but it also means it has a potential for more expansion. The revenue of the company was 1268 Crore RS in 2020 which decreased to 1177 Crore Rs. This is probably the COVID effect. However in 2022 the revenue again bounced back to 1302 Crore Rs. The profits of the firm was 14.5 Crore Rs in 2020 which increased to 231 Crore Rs in 2021. This was high despite a decrease in revenue. However in 2022 the company’s profits were 135.8 Crore RS which is less than the 2021 amount.
PROS
- Keystone Realtors Limited has a record of 32 completed projects, 12 ongoing projects and 21 upcoming projects till June 2022 in Mumbai.
- Till June 2022 the company has developed 20.22 million square feet of area through its various projects.
- The company has developed over 280 buildings for making homes of more than 14000 families.
CONS
- The company works in a competitive segment.
Keystone Realtors Limited IPO APPLICATION PROCESS WITH ZERODHA
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform.
- Clicking the IPO link present in the Portfolio section.
- Click the Keystone Realtors Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
