 "IPO")
Keystone Realtors’ (Keystone) Rs 635 crore initial public offer (IPO) opened for subscription on Monday and will close on Wednesday.
The issue consists of a fresh issue of shares worth Rs 560 crore and an offer-for-sale worth the remaining Rs 75 crore. The price band is fixed at Rs 514-541 per share.
The company, a major real estate developer in the Mumbai Metropolitan Region (MMR), sells properties under the brand name ‘Rustomjee’.
Analysts are positive on the company’s IPO given its asset-light model, strong brand, decent financials and attractive valuation.
The company is primarily focused on residential real estate projects
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