Keystone Realtors' IPO, worth up to Rs 635 crore, concluded with a subscription of two times on Wednesday — the third and final day of the bidding process. The IPO of Mumbai-based ' real estate developer Keystone Realtors — which operates the Rustomjee brand — included fresh issuance worth Rs 560 crore and an offer for sale (OFS).
As the end of the day, the Keystone Realtors IPO received bids for 1.7 crore shares against the 86.5 lakh shares on offer — an overall subscription of 201 percent with strong participation from qualified institutional buyers and high net-worth individuals.
Up to 50 percent of the total issue was reserved for QIBs, at least 15 percent for non-institutional investors and the remaining for retail investors.
Potential investors could bid for Keystone Realtors shares in a price range of Rs 514-541 apiece in multiples of 27 under the IPO — which translates to Rs 13,878-14,607 per lot.
Should you subscribe to the Keystone Realtors IPO?
Anand Rathi had recommended subscribing to the Keystone Realtors IPO for the long term.
First Published: Nov 16, 2022 3:37 PM IST
