The IPO (Initial Public Offering) of Mumbai-based real estate company Keystone Realtors Ltd will open on Monday. The company plans to raise Rs 635 crore through IPO. Under the IPO, new shares worth Rs 560 crore will be issued and its promoters will make an offer for sale (OFS) of up to Rs 75 crore. The price band for the IPO has been fixed at Rs 514-541 per share. Its subscription will open on November 14 and close on November 16.
Let us inform that Keystone Realtors has already raised Rs 190 crore from anchor investors. Boman Rustam Irani, Chairman and Managing Director, Keystone Realtors Ltd., which sells properties under the ‘Rustomjee’ brand, said, “I am positive about the IPO, the public will understand our achievements and we will deliver great returns in the long run.” Established in the year 1995, Keystone Realtors has 32 completed projects, 12 under construction projects and 19 upcoming projects in the Mumbai Metropolitan Region (MMR).