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Nitesh Estates Limited IPO (Nitesh Estates IPO) Detail

Apr 23, 2010 - Apr 27, 2010

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.

Company Financials

ParticularsFor the year/period ended (Rs. in Million)
30-Sep-0931-Mar-0931-Mar-0831-Mar-0731-Mar-06
Total Income458.47868.89688.73240.15223.59
Profit After Tax (PAT)60.8028.539.7428.7313.78

Objects of the Issue

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.

Nitesh Estates IPO Details

Nitesh Estates IPO Date Apr 23, 2010 to Apr 27, 2010
Nitesh Estates IPO Face Value ₹10 per share
Nitesh Estates IPO Price ₹54 to ₹56 per share
Nitesh Estates IPO Lot Size 100 Shares
Issue Size75,000,000 shares of ₹10
(aggregating up to ₹405.00 Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Company Promoters

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.

Nitesh Estates IPO Lot Size

The Nitesh Estates IPO 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
Retail (Min) 1 100 ₹5,600
Retail (Max) 35 3500 ₹196,000

Nitesh Estates Ltd IPO Grading / Rating

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.


Nitesh Estates IPO Subscription Status (Bidding Detail)

The Nitesh Estates IPO is subscribed 1.16 times on Apr 27, 2010 5:00:00 PM. The public issue subscribed 0.16 times in the retail category, 2.54 times in the QIB category, and 0.22 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB2.54
NII0.22
Retail0.16
Total1.16

Nitesh Estates IPO Prospectus

Nitesh Estates IPO Rating

147
3.0
Rating:Rated 3.0 stars
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Nitesh Estates IPO Listing Date

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 share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹54.00
₹50.00
₹48.05
₹55.00
₹50.95
NSE
₹54.00
₹54.00
₹48.40
₹58.00
₹51.40

Company Contact Information

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

Nitesh Estates IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000
Email: nitesh.ipo@karvy.com
Website: https://karisma.kfintech.com/

Nitesh Estates IPO Review

Nitesh Estates IPO Recommendation Summary

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Members 0 0 0

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IPO Broker Recommendations

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Nitesh Estates IPO FAQs

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 share. The minimum order quantity is 100 Shares.

The IPO opens on Apr 23, 2010, and closes on Apr 27, 2010.

KFin Technologies 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 .

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.

The Nitesh Estates IPO listing date is on Thursday, May 13, 2010.
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Nitesh Estates IPO Message Board

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107 Comments

107. Srikanth Matrubai |   Link |May 23, 2010 4:02:05 PM
HDFC's Prashanth Jain who has NEVER ever invested in a Real Estate Company has surprisingly bought Nitesh Estates. Why?
106. ipoayaash |   Link |May 18, 2010 11:56:33 PM
I already advised to sell this share asap , see my message dated may 11.
105. Leon |   Link |May 14, 2010 5:18:33 PM
Sell it as soon as possible. Chances are that it might go down further. Do not stick to this issue.
104. Vipin Jain |   Link |May 14, 2010 11:24:49 AM
what to do with Nitesh now? i have 600 sh
103. Ravi, Bangalore |   Link |May 13, 2010 4:17:08 PM
Fundamental study is to decide whether to apply to IPO or not? Technical study is after listing, when to BUY & when to SELL (whether profit or loss).

Technical analysis helps to cut traders' emotion. If we are biased that Talwalkers could fall just because it is over-valued, then it is suicidal.

However, technical is not perfect science & hence stop-loss is important. It is not that how many calls failed or clicked, what is important is when you are right how much you made & when you loose how little you loose. That is most important for traders' / investors' success.
102. Ravi, Bangalore |   Link |May 13, 2010 3:58:01 PM
88. Anil

How can guess IPO opening price? I don't agree its fair price is only Rs.14.

My Hathway fundamental call failed (but technical call clicked). Before critising, look at your own calls.

What happened to your Shree Ganesh Intra-day Calls? Heavy loss.
101. Teen Patti |   Link |May 13, 2010 2:31:25 PM
NHPC, NTPC, NMDC, Nitesh, SJVNL, Indiabulls Power, Shree Ganesh Ji, Reliance Power. Yeh sabhi to LOOTERI company hai. Because all these are related to Swiss Bank of India. You will cry daily in all these like blood drinker.
100. Ravi, Bangalore |   Link |May 13, 2010 2:19:46 PM
Keep a stop @ 52.5 & go to world tour.

Target 47.55, 43.9 or even below 38.65.

Fair value seen @ Rs.36.

Due to network problem could not inform in time.
99. Rama |   Link |May 13, 2010 10:59:31 AM
Sell Nitesh at current price to reduce your loss.

Discl: I have earlier given stop payment for my application.
98. Gangu |   Link |May 13, 2010 9:26:48 AM
List Ho Gayaaaaa -- fifty fifty (50.50)
97. NITESH BHAI |   Link |May 12, 2010 10:45:40 PM
NAME OF THE SHAREHOLDER      NO OF SHARES       PERCENTAGE
AMIF (I) LTD      10203700      7.00
NOMURA INDIA INVESTMENT FUND MOTHER FUND      9355738      6.42
HSBC BANK MAURITIUES LIMITED      8049962      5.52
LIFE INSURANCE CORPORATION OF INDIA      6208422      4.26
BLACKROCK INDIA EQUITIES FUND MAURITIUS LIMITED      5328837      3.65
BANK OF BARODA      4048241      2.78
HSBC BANK MAURITIUS LIMITED      3616100      2.48
NOMURA INDIA INVESTMENT FUND MOTHER FUND      3616000      2.48
SILVER STALLION LIMITED      2186064      1.50
DSP BLACKROCK EQUITY FUND      1870089      1.28
THE MASTER TRUST BANK OF JAPAN LTD AS TRUSTEE OF      1845912      1.27
HDFC TRUSTEE CO LTD      1808000      1.24
STATE BANK OF INDIA      1619262      1.11
KOTAK MAHINDRA BANK LIMITED      1619262      1.11

96. akka |   Link |May 12, 2010 10:05:39 PM
..NITESH ESTATES LIMITED.. WILL LIST ON ..13/05/10...HAPPY LISTING TO ALL WHO HAVE BEEN ALLOTED SHARES...
95. raju |   Link |May 12, 2010 6:40:07 PM
Listing date of nitesh pls?
94. SKD |   Link |May 12, 2010 11:33:46 AM
The Management is proactive and the future plans look good.This is high risk business.Even if the listing is not bumper, this company will do good in the long run.
93. manoj |   Link |May 12, 2010 9:15:54 AM
when is the listing date..........of nitesh.........
92. ipoayaash |   Link |May 11, 2010 4:55:57 PM
Sell nitesh on as soon as its listed to save ur money and buy again at Rs 20.
91. HITEN |   Link |May 11, 2010 12:15:41 PM
ON WHICH SITE IS THE ALLOTMENT.................IS OUT.........PLZ REPLY.....
90. Loka |   Link |May 11, 2010 11:58:07 AM
It will list mimimum 20% up
89. Jatin |   Link |May 11, 2010 10:30:33 AM
Allotment is out.
Retail will get full allocation, as it is subscribed only 0.1604 times.
88. Raju |   Link |May 10, 2010 9:04:46 PM
When will be the allocation of nitesh?