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Keystone Realtors Limited IPO (Keystone Realtors IPO) Detail

November 14, 2022 - November 16, 2022

Keystone Realtors IPO is a book built issue of Rs 635.00 crores. The issue is a combination of fresh issue of 1.04 crore shares aggregating to Rs 560.00 crores and offer for sale of 0.14 crore shares aggregating to Rs 75.00 crores.

Keystone Realtors IPO bidding started from November 14, 2022 and ended on November 16, 2022. The allotment for Keystone Realtors IPO was finalized on Monday, November 21, 2022. The shares got listed on BSE, NSE on November 24, 2022.

Keystone Realtors IPO price band is set at ₹514 to ₹541 per share. The minimum lot size for an application is 27 Shares. The minimum amount of investment required by retail investors is ₹14,607. The minimum lot size investment for sNII is 14 lots (378 shares), amounting to ₹204,498, and for bNII, it is 69 lots (1,863 shares), amounting to ₹1,007,883.

Axis Capital Limited and Credit Suisse Securities (India) Private Limited are the book running lead managers of the Keystone Realtors IPO, while Link Intime India Private Ltd is the registrar for the issue.

Refer to Keystone Realtors IPO RHP for detailed information.

Keystone Realtors IPO Details

IPO Date November 14, 2022 to November 16, 2022
Listing Date November 24, 2022
Face Value ₹10 per share
Price Band ₹514 to ₹541 per share
Lot Size 27 Shares
Total Issue Size11,737,523 shares
(aggregating up to ₹635.00 Cr)
Fresh Issue10,351,201 shares
(aggregating up to ₹560.00 Cr)
Offer for Sale1,386,322 shares of ₹10
(aggregating up to ₹75.00 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE

Keystone Realtors IPO Reservation

Keystone Realtors IPO offers 8,647,858 shares. 2,470,816 (28.57%) to QIB, 1,853,113 (21.43%) to NII, 4,323,929 (50.00%) to RII. 160,145 RIIs will receive minimum 27 shares and 1,634 (sNII) and 3,268 (bNII) will receive minimum 378 shares. (in case of oversubscription)

Investor Category Shares OfferedMaximum Allottees
Anchor Investor Shares Offered-NA
QIB Shares Offered2,470,816 (28.57%)NA
NII (HNI) Shares Offered1,853,113 (21.43%)
  bNII > ₹10L1,235,408 (14.29%)3,268
  sNII < ₹10L617,705 (7.14%)1,634
Retail Shares Offered4,323,929 (50.00%)160,145
Total Shares Offered8,647,858 (100%)

Keystone Realtors IPO Timeline (Tentative Schedule)

Keystone Realtors IPO opens on November 14, 2022, and closes on November 16, 2022.

IPO Open Date Monday, November 14, 2022
IPO Close Date Wednesday, November 16, 2022
Basis of Allotment Monday, November 21, 2022
Initiation of Refunds Tuesday, November 22, 2022
Credit of Shares to Demat Wednesday, November 23, 2022
Listing Date Thursday, November 24, 2022
Cut-off time for UPI mandate confirmation 5 PM on November 16, 2022

Keystone Realtors IPO Lot Size

Investors can bid for a minimum of 27 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 27 ₹14,607
Retail (Max) 13 351 ₹189,891
S-HNI (Min) 14 378 ₹204,498
S-HNI (Max) 68 1,836 ₹993,276
B-HNI (Min) 69 1,863 ₹1,007,883
Lot Size Calculator

Keystone Realtors IPO Promoter Holding

Boman Rustom Irani, Percy Sorabji Chowdhry, and Chandresh Dinesh Mehta are the company promoters.

Share Holding Pre Issue 96.71%
Share Holding Post Issue 87.92%

About Keystone Realtors Limited

Incorporated in 1995, Keystone Realtors Limited is one of the prominent real estate developer. The company is engaged primarily in the business of real estate construction, development and other related activities in India.

As of June 30, 2022, the company had 32 Completed Projects, 12 Ongoing Projects and 21 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 the Rustomjee brand.

June 30, 2022, Keystone Realtors have developed 20.22 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 part of the business model, the company is entering into joint development agreements, redevelopment agreements with landowners or developers or societies, and slum rehabilitation projects, which requires lower upfront capital investment compared to direct acquisition of land parcel.

The company have adopted an integrated real estate development model for every stage of the property development life cycle, commencing from business development, which involves the identification of land parcels and the conceptualization of the development, to execution, comprising planning, designing and overseeing the construction activities, marketing and sales.

As of June 30, 2022, The company have developed over 280 buildings and homes for over 14,000 families.

Company Financials

Keystone Realtors Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxTotal Borrowing
31-Mar-194153.072142.65137.741372.4
31-Mar-204415.311268.614.491220.26
31-Mar-213654.11177.27231.822513.9
30-Jun-213676.2491.4-0.971145.56
31-Mar-223876.841302.97135.831557.96
30-Jun-223910.151764.221468.83
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Keystone Realtors IPO is Rs 6160.77 Cr.

Pre IPO Post IPO
P/E (x) 365.54

Objects of the Issue (Keystone Realtors IPO Objectives)

Each of the Selling Shareholders will be entitled to their respective portion of the proceeds of the Offer for Sale.

The company propose to utilise the Net Proceeds towards funding the following objects:

1. Repayment/ prepayment, in full or part, of certain borrowings availed by the Company and/or certain of the Subsidiaries.

2. Funding acquisition of future real estate projects and general corporate purposes.

Keystone Realtors IPO Review (May apply)

[Dilip Davda]  Based on its current financial data, the issue appears fully priced, but considering growth prospects with projects on hand, well-informed cash surplus investors may consider the investment with a medium to long-term perspective. Read detail review...


Keystone Realtors IPO Subscription Status (Bidding Detail)

The Keystone Realtors IPO is subscribed 2.01 times on November 16, 2022 7:00:00 PM. The public issue subscribed 0.53 times in the retail category, 3.84 times in the QIB category, and 3.03 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB3.84
NII3.03
    bNII (bids above ₹10L)3.78
    sNII (bids below ₹10L)1.53
Retail0.53
Total2.01

Keystone Realtors IPO Prospectus

Keystone Realtors IPO Rating

500
3.8
Rating:Rated 3.8 stars
Vote Here ...

Keystone Realtors IPO Listing Details

Listing Date November 24, 2022
BSE Script Code 543669
NSE Symbol RUSTOMJEE
ISIN INE263M01029
Final Issue Price ₹541 per share

Pre-Open Session - NSE Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE
₹541.00
₹555.00
₹555.00
₹568.25
₹557.80
NSE
₹541.00
₹555.00
₹548.00
₹569.95
₹556.85

Check IPO Performance…

Keystone Realtors Limited Contact Details

Keystone Realtors Limited
702, Natraj, MV Road Junction,
Western Express Highway,
Andheri (East), Mumbai, Maharashtra, 400069
Phone: +91 (22) 6676 6888
Email: cs@rustomjee.com
Website: https://www.rustomjee.com/

Keystone Realtors IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: rustomjee.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html

Keystone Realtors IPO - Buy or Not

Keystone Realtors IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 12 1 0
Members 5 1 2

Read All Reviews Post Your Review Manage Reviews

Keystone Realtors IPO FAQs

Keystone Realtors IPO is a main-board IPO of 11,737,523 equity shares of the face value of ₹10 aggregating up to ₹635.00 Crores. The issue is priced at ₹514 to ₹541 per share. The minimum order quantity is 27 Shares.

The IPO opens on November 14, 2022, and closes on November 16, 2022.

Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in Keystone Realtors IPO using UPI as a payment gateway. Zerodha customers can apply in Keystone Realtors IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Keystone Realtors IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Keystone Realtors IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Keystone Realtors IPO opens on November 14, 2022 and closes on November 16, 2022.

Keystone Realtors IPO lot size is 27 Shares, and the minimum amount required is ₹14,607.

You can apply in Keystone Realtors IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Keystone Realtors IPO will be done on Monday, November 21, 2022, and the allotted shares will be credited to your demat account by Wednesday, November 23, 2022. Check the Keystone Realtors IPO allotment status.

The Keystone Realtors IPO listing date is on November 24, 2022.
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Keystone Realtors IPO Message Board

Ranked Members of Chittorgarh.com Forum  Ranked Members | Members with Most Likes

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580 Comments

228. Ipoaspire |   Link |  Bookmark |December 23, 2022 7:43:11 PM (300+ Posts)
@Arca @lokes could u please share reetech international sept 2022 results.
227. Param Patel |   Link |  Bookmark |November 29, 2022 8:47:41 AM
IPO Mentor IPO Mentor (700+ Posts, 400+ Likes)
Freefall !!! 1 lot stoploss triggered at 541 and other one holding for long term with stoploss of 500 on dcb
226. arvindarvind |   Link |  Bookmark |November 24, 2022 1:57:23 PM
Top Contributor Top Contributor (900+ Posts, 200+ Likes)
@lokes sir and @ Monster sir,
Can i hold 4 lots of it for one to two month for 20% gain?
226.1. lokes |   Link |  Bookmark |November 26, 2022 8:40:43 AM
IPO Guru IPO Guru (4300+ Posts, 5100+ Likes)
I was not tracking it, i applied here full retail application via upi but forgot to accept upi mandate by 5pm...
I think you can sell 2 lots around 590-595 and hold 2 more for little longer....some profit booking is good in between to avoid any downside risk...mostly it will grow in long term due to good brand name and project executions
226.2. arvindarvind |   Link |  Bookmark |November 26, 2022 8:57:37 AM
Top Contributor Top Contributor (900+ Posts, 200+ Likes)
Thanks a lot sir.
225. Mohamed Hanif |   Link |  Bookmark |November 21, 2022 7:19:02 PM
I have applied 5 lot in retail but no allotment. How is possible as retail was only 53% subscription. Pls advised where to complain.
225.12. CAAditya |   Link |  Bookmark |November 29, 2022 7:43:06 PM
Please attach linkintime SS for better understanding and clarity to all.
225.13. P Patel |   Link |  Bookmark |December 5, 2022 12:42:23 PM
IPO Mentor IPO Mentor (900+ Posts, 900+ Likes)
@CAAditya - Attached is the screenshot...


224. MITTAL |   Link |  Bookmark |November 24, 2022 1:07:24 PM
IPO Mentor IPO Mentor (700+ Posts, 1200+ Likes)
देखने से लग रहा है,Archean chamical वाली चाल है, भाव गिरा भी नहीं रहा बढ़ा भी नहीं रहा, सिर्फ माल पकड़ना चाह रहा है। गिरावे तो डर ,माल कम है और बढ़ावे तो डर लोग देकर घर न चले जावे। सो मेरे जैसे कमजोर पूंजी और कमजोर दिल वाले देवेगें और दूसरा घर(IPO) देखेंगे। बाकी राम जाने ...........
224.1. svh |   Link |  Bookmark |November 24, 2022 1:15:07 PM
IPO Guru IPO Guru (2400+ Posts, 3600+ Likes)
Not only in Archean , in Bikaji also small investors feel cheated.
🙏👍
224.2. MITTAL |   Link |  Bookmark |November 25, 2022 3:47:05 PM
IPO Mentor IPO Mentor (700+ Posts, 1200+ Likes)
आज जी टीवी पर बोमानी जी का साक्षात्कार देखें,जो रुक सकता है वो दिसम्बर महीना रुक कर बेचे ,मेरे विचार से अच्छा माल बनेगा, वर्ना STOP LOSSE तो है ही............541
223. SANJEEV SOOD |   Link |  Bookmark |November 25, 2022 9:42:13 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Holding 1 sHNI - Max 1836 shares for 6 plus.
223.3. SANJEEV SOOD |   Link |  Bookmark |November 25, 2022 10:20:34 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
@rsk , I wrote about my application only , as I dont have immediate access to my trading A/c , due to some technical problem with my mobile app.
223.4. rsk |   Link |  Bookmark |November 25, 2022 11:18:09 AM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
You can check BOA at the top. 1367 you got to be precise.
222. i For IPO ☑️ |   Link |  Bookmark |November 25, 2022 9:59:07 AM
IPO Mentor IPO Mentor (500+ Posts, 800+ Likes)
Don't Sell Wait For 5 To 10 Day

For Another Bluk Deal

10 To 15 % Is Coiming
221. Chem cho |   Link |  Bookmark |November 25, 2022 9:21:04 AM
IPO Guru IPO Guru (2500+ Posts, 2700+ Likes)
SOLD @RS 585. Rest holding profit shares

no tension even if market go down as shares are free
221.1. rsk |   Link |  Bookmark |November 25, 2022 9:46:22 AM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
Sirji,

Are you expecting 80-90 seats? which is more or less a loss. Market is any way ahead of funda. I have read 12 pages of Fed minutes and no where found hint of slower increases till 5.25% and stay put for whole of 2023.
221.2. Chem cho |   Link |  Bookmark |November 27, 2022 12:37:59 PM
IPO Guru IPO Guru (2500+ Posts, 2700+ Likes)
markets are all time high , I don't predict , up side or down side or so , let the market find it way ,
i want to say even if the share of Rustomji goes down , i am tension free as i hold free share , sold share of from HNI quota and profit share i hold
All my holdings are mostly profit shares with value zero for me
suppose i made an profit of Rs 20000 i will hold 20000/541 approx. 35 share
this an example
any change in status of Rustomji share i will sell it stop loss Rs 450
i hope it clear your doubt
220. Iponahimilraha hehe mil gaya |   Link |  Bookmark |November 24, 2022 8:59:57 AM (200+ Posts, 400+ Likes)
Saala cost to cost exit mil gaya wohi kaafi hai

Hni 4 thi dar lag raha tha😁
220.1. Ram Bhakt |   Link |  Bookmark |November 25, 2022 9:40:11 AM
I have been reading your comments on this post regarding some weird London report and 600 listing price. And then you come yesterday saying this "Saala cost to cost exit mil gaya wohi kaafi hai
Hni 4 thi dar lag raha tha😁". This means you were just trying to influence others to create fomo so that they would buy in pre-open.

It's good that you have exited now and the price will make you feel fomo each day.

JAI SHREE RAM🙏🏻
219. Gaurav DD dimer |   Link |  Bookmark |November 25, 2022 9:16:23 AM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
Sold 1st Lot Yesterday @ 568 (5% up)
Sold 2nd lot today @570.75 (2.5% up from yesterday closing)
sold 3rd lot today @ 584.65 (5% up from yesterday closing)
Placed 1 lot order at 7.5% up & another lot ordee at 10% up.
219.1. Gaurav DD dimer |   Link |  Bookmark |December 1, 2022 3:12:10 PM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
Earlier 3 Lots Profit is 2500
Sold 200 shares today at 650Rs loss
Net Profit 1850
Holding 70 shares.

Reason for selling - fund required ro buy something else.
218. i For IPO ☑️ |   Link |  Bookmark |November 25, 2022 8:49:03 AM
IPO Mentor IPO Mentor (500+ Posts, 800+ Likes)
If Cross 570 It Will Fly

Volumes Has Dried Up
218.1. i For IPO ☑️ |   Link |  Bookmark |November 25, 2022 9:06:41 AM
IPO Mentor IPO Mentor (500+ Posts, 800+ Likes)
BOOM @570
218.2. Amit Chheda |   Link |  Bookmark |November 25, 2022 9:14:32 AM
IPO Mentor IPO Mentor (700+ Posts, 900+ Likes)
Maal laav 🤣
217. SANJEEV SOOD |   Link |  Bookmark |November 24, 2022 8:49:27 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
Hunch : This IPO will give decent listing gain , and will remain bouyent , as Puranic Builders IPO , from the same space , is immediately following . To make Puranic sale through, they have to keep Keystone positive , at least till closing of Puranic.
217.1. arunARUN |   Link |  Bookmark |November 24, 2022 8:32:44 PM
IPO Guru IPO Guru (1900+ Posts, 1600+ Likes)
Puranik builder approval was valid only till Nov 18, 2022. So it can can not come till it refiles

217.2. SANJEEV SOOD |   Link |  Bookmark |November 25, 2022 7:14:29 AM
Top Contributor Top Contributor (300+ Posts, 100+ Likes)
@Arun , I did not notice that. Just commented based on Chittorgarh list of upcoming IPO’s.
If it is so, my whole premise of investment for very short period nullifies.
What is the status of Landmark Cars?
216. i For IPO ☑️ |   Link |  Bookmark |November 24, 2022 6:16:12 PM
IPO Mentor IPO Mentor (500+ Posts, 800+ Likes)
Todays Bluk Deal 17Lakhs

216.1. arvindarvind |   Link |  Bookmark |November 24, 2022 6:58:42 PM
Top Contributor Top Contributor (900+ Posts, 200+ Likes)
Sir it is going to fly within a month!
216.2. Agni अग्नि |   Link |  Bookmark |November 24, 2022 11:01:30 PM
That's a good PMS firm... picked at the right price for today.
215. rsk |   Link |  Bookmark |November 24, 2022 8:41:52 PM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)
IF you look at BOA:
SHNI > Whoever applied amounts 7 - 9.99 lakh got more allotment than BHNI applications of 10 -14.6 lakh.
Not sure if these people got tricked (expecting 378 shares) or were clever.
214. Chem cho |   Link |  Bookmark |November 24, 2022 4:33:57 PM
IPO Guru IPO Guru (2500+ Posts, 2700+ Likes)
But the delivery volume say of 37 L CAN COME for sale tomorrow with the new investor from Rs 538 low to rs 555 -Rs 570 (high) plus assume 7 L are not sellers or may be sellers above Rs 570
214.1. Gaurav DD dimer |   Link |  Bookmark |November 24, 2022 4:47:53 PM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
ATP ( Average trade price is 557 for today.

So you can assume 37L shares are at a price of 557.
214.2. i For IPO ☑️ |   Link |  Bookmark |November 24, 2022 4:53:49 PM
IPO Mentor IPO Mentor (500+ Posts, 800+ Likes)
We Have See Who Brought It Today
Bluk Deal

If 2 - 3 Good Funds Have Brought They Will Not Sell Any Time Soon

Specially Outside Funds & Ace Investors

213. GNS |   Link |  Bookmark |November 24, 2022 4:27:18 PM
Holding my 432 allotted shares, Seeing good delivery percentage & lack of liquidity, All weaker hands are out of the game, Once it moves tomorrow then demand for the share shall increase so the price.
&
Don't forget the investment of Ace investors like Ashish Kacholia & Mukul Mahavir Agrawal in it.
Hope it will go Bikaji way .UC UC
212. i For IPO ☑️ |   Link |  Bookmark |November 24, 2022 8:48:39 AM
IPO Mentor IPO Mentor (500+ Posts, 800+ Likes)
15 Lakhs Share Traded In Pre Open

Total 15% Shares Exchanged In Pre Open

212.10. Gaurav DD dimer |   Link |  Bookmark |November 24, 2022 3:53:52 PM
IPO Mentor IPO Mentor (1200+ Posts, 400+ Likes)
Final Delivery Volume
NSE - 35L+, BSE - 2L+, Total 37L +
(Assuming QIB haven't sold, holding QTY with retail & HNI is less than 7L)
212.11. i For IPO ☑️ |   Link |  Bookmark |November 24, 2022 4:10:18 PM
IPO Mentor IPO Mentor (500+ Posts, 800+ Likes)
Thank You For Info
@ Gaurav
211. Barbarik |   Link |  Bookmark |November 23, 2022 6:16:50 PM
Gyanchand???
211.3. Cautious ProPrio |   Link |  Bookmark |November 24, 2022 9:01:08 AM
IPO Guru IPO Guru (1900+ Posts, 1100+ Likes)
Bayanchand lagata he 606
211.4. Agni अग्नि |   Link |  Bookmark |November 24, 2022 1:39:31 PM
Mera bolne na matlab tha, kisi "chand" kaam nahin aata aajkal...
210. TRADERZ |   Link |  Bookmark |November 24, 2022 1:34:50 PM
Sold my @378 shares at Rs 558…Thanks guys , Not a bumper listing but fine with what i get for the day
209. Ak Lakhotia |   Link |  Bookmark |November 23, 2022 9:58:21 PM
Listing in range 551-555... typing error
209.1. Ak Lakhotia |   Link |  Bookmark |November 24, 2022 1:17:47 PM
Perfect listing prediction and now expecting good upmove in near term