GURUGRAM : Keystone Realtors Limited (the “Company”), which operates under the brand ‘Rustomjee’ and is one of the prominent real estate developers (in terms of absorption in number of units) in the micro markets that it is present in, will open its initial public offering on November 14, 2022.
The Price Band of the offer has been fixed at ₹ 514 to ₹ 541 per Equity Share of face value ₹ 10 each. Bids can be made for a minimum of 27 Equity Shares and in multiples of 27 equity shares thereafter.
The initial public offering comprises a Fresh Issue aggregating up to ₹ 5,600.00 million and an Offer for Sale of up to ₹ 750.00 million by the Selling Shareholders comprising up to ₹ 375.00 million by Boman Rustom Irani, up to ₹ 187.50 million by Percy Sorabji Chowdhry and up to ₹ 187.50 million by Chandresh Dinesh Mehta.
The Company intends to use the proceeds of the fresh issue for repayment/ prepayment, in full or part, of certain borrowings availed by the Company and/or certain of the subsidiaries; and funding acquisition of future real estate projects, and general corporate purposes.