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Incorporated in 2004, Nitesh Estates Limited is in the business of real estate development, primarily residential projects in Bengaluru. They are also developing a hospitality project in Bengaluru and a residential and an office project in Kochi. Nitesh Estates is in the process of diversifying into the development of shopping-malls and are expanding geographic reach to Chennai and Goa. Company's residential projects include multi-unit apartment buildings targeted at high-income and middle-income customers. Nitesh Estates is also developing its first hospitality project, the first ‘Ritz-Carlton’ brand hotel in India, on Residency Road in the central business district of Bengaluru.
Nitesh Estates has developed three residential projects totalling 0.55 million sq. ft. of Saleable Area and Developable Area. Company is developing 5 residential, 1 hospitality and 1 office projects. Company also has 3 residential, 1 shopping-mall and 1 mixed-use real estate projects inline for future development.
Completed Projects of the Nitesh Estates are:
1. Nitesh Long Island, completed in 2009, a built-to-suit premium corporate residential project near Bellary Road, Bengaluru;
2. Nitesh Wimbledon Park, completed in 2007, a premium residential project, located on Race Course Road, Bengaluru; and
3. Nitesh Mayfair, completed in 2007, a premium residential project, located on Lavelle Road, Bengaluru.
Ongoing Projects are Nitesh Hyde Park, located at Bannerghatta Road, Nitesh Forest Hills in Whitefield, Nitesh Flushing Meadows in Whitefield, Nitesh Columbus Square at off Bellary Road, Nitesh Wimbledon Gardens (Residential)at Airport-Seaport road in Kochi, Nitesh Wimbledon Gardens (Commercial), located at Airport-Seaport road in Kochi and the 'Ritz-Carlton' brand hotel with 281 keys, located at Residency Road in the central business district of Bengaluru.
The individual promoters of the Company are:
1. Mr. Nitesh Shetty; and
2. Ms. Pushpalatha V. Shetty.
The corporate promoter of the Company is Nitesh Industries Private Limited.
| Particulars | For the year/period ended (Rs. in Million) | ||||
| 30-Sep-09 | 31-Mar-09 | 31-Mar-08 | 31-Mar-07 | 31-Mar-06 | |
| Total Income | 458.47 | 868.89 | 688.73 | 240.15 | 223.59 |
| Profit After Tax (PAT) | 60.80 | 28.53 | 9.74 | 28.73 | 13.78 |
The objects of the Issue are to:
1. Acquire joint development rights of our Company;
2. Fund our existing Subsidiaries and the Associate company, for repayment/prepayment of loans, redemption of debentures, finance Ongoing Projects and finance the acquisition of joint development rights;
3. Repay certain loans of our Company; and
4. Fund the expenditure for general corporate purposes.
| IPO Opening Date | Apr 23, 2010 |
| IPO Closing Date | Apr 27, 2010 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹54 to ₹56 per equity share |
| Market Lot | 100 Shares |
| Min Order Quantity | 100 Shares |
| Listing At | BSE, NSE |
| Issue Size | 75,000,000 Eq Shares of ₹10 (aggregating up to ₹405.00 Cr) |
The Nitesh Estates IPO market lot size is 100 shares. A retail-individual investor can apply for up to 35 lots (3500 shares or ₹196,000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 100 | ₹5,600 |
| Maximum | 35 | 3500 | ₹196,000 |
CRISIL has assigned an IPO Grade 2 to Nitesh Estates Ltd IPO. This means as per CRISIL company has 'below Average Fundamentals'. CRISIL assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CRISIL IPO Grading Document for Nitesh Estates Ltd.
The Nitesh Estates IPO is subscribed 1.16 times on 4/27/2010 5:00:00 PM. The public issue subscribed 0.16 in the retail category, 2.54 in the QIB category, and 0.22 in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 2.54 |
| NII | 0.22 |
| Retail | 0.16 |
| Total | 1.16 |
| Listing Date | Thursday, May 13, 2010 |
| BSE Script Code | 533202 |
| NSE Symbol | NITESHEST |
| Listing In | B Group of Securities |
| ISIN | INE639K01016 |
| IPO Price | ₹54 per equity share |
| Face Value | ₹10 per equity share |
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Nitesh Estates Limited
Nitesh Timesquare, 7th Floor
No. 8, M.G. Road,
Bengaluru 560 001, Karnataka, India
Phone: (91 80) 4017 4000
Email: investor@niteshestates.com
Website: http://www.niteshestates.com
KFintech Private Limited
Phone: 04067162222, 04079611000
Email: nitesh.ipo@karvy.com
Website: https://karisma.kfintech.com/
Nitesh Estates IPO is a main-board IPO of 75,000,000 equity shares of the face value of ₹10 aggregating up to ₹405.00 Crores. The issue is priced at ₹54 to ₹56 per equity share. The minimum order quantity is 100 Shares.
The IPO opens on Apr 23, 2010, and closes on Apr 27, 2010.
KFintech Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Nitesh Estates IPO opens on Apr 23, 2010 and closes on Apr 27, 2010.
Nitesh Estates IPO lot size is 100 Shares and the minimum order quantity is 100 Shares.
You can apply in Nitesh Estates 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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Nitesh Estates IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Nitesh Estates IPO allotment status.
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