The company’s promoters Boman Rustom Irani, Percy Sorabji Chowdhry and Chandresh Dinesh Mehta are the ones offloading stake in the OFS.
The retail quota in the IPO has been fixed at 35% of the issue size, 50% for qualified institutional buyers or QIBs and the remaining 15% for non-institutional bidders.
Axis Capital Limited and Credit Suisse Securities (India) Private Limited are the Book Running Lead Managers to the IPO.
Keystone said it plans to utilise the net proceeds towards repayment/ prepayment of certain borrowings and funding acquisition of future real estate projects and general corporate purposes.
As of March 2022-end, the real estate developer had 32 completed projects, 12 ongoing projects and 19 forthcoming projects across the Mumbai Metropolitan Region (MMR). It has developed 20.05 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.
In FY22, the company had reported a revenue of Rs 1,269.3 crore against Rs 848.7 crore in FY21. Profit in the last financial year stood at Rs 135.8 crore. In the June 2022 quarter, it reported a profit of Rs 4.22 crore against a revenue from operations of Rs 168.5 crore.
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
