Keystone Realtors shares climb over 3% in stock market debut trade

Shares of Keystone Realtors, which sells properties under brand 'Rustomjee', ended over 3 per cent higher in its debut trade on Thursday against the issue price of Rs 541.

The stock listed at Rs 555, reflecting a gain of 2.58 per cent from the issue price on the BSE. It further rallied 5 per cent to Rs 568.25. Shares of the firm ended at Rs 557.80 apiece, higher by 3.10 per cent.

At the NSE also, it made its debut at Rs 555. It later ended at Rs 556.80, a gain of 2.92 per cent.

The company commanded a market valuation of Rs 6,352.08 crore on the BSE.

 

In volume terms, 4.16 lakh shares of the firm were traded at the BSE and over 58.63 lakh shares on the NSE during the day.

The initial public offering of Keystone Realtors received 2 times subscription on the last day of the offer on November 16.

The IPO had a fresh issue of up to Rs 560 crore and an offer-for-sale of up to Rs 75 crore.

Price range for the IPO was at Rs 514-541 a share.

Founded in 1995, Keystone Realtors has 32 completed projects, 12 ongoing projects and 19 forthcoming projects across the Mumbai Metropolitan Region (MMR) that includes a comprehensive range of projects under the affordable, mid and mass, aspirational, premium and super premium categories, all under Rustomjee brand.

The realty firm 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 as of March 2022.

Uniparts India’s IPO on Nov 30

The initial share-sale of engineering systems and solutions provider Uniparts India will open for public subscription on November 30.

The three-dayIPO will conclude on December 2.The bidding for anchor investors will open on November 29, according to the red herring prospectus.

The IPO is entirely an Offer for Sale of 14,481,942 equity shares by promoter group entities and existing investors. Those offering shares in the OFS are promoter group entities The Karan Soni 2018 CG-NG Nevada Trust, The Meher Soni 2018 CG-NG Nevada Trust, Pamela Soni, and investors Ashoka Investment Holdings and Ambadevi Mauritius Holding.

Since the IPO would be entirely an OFS, the company will not receive any proceeds from the public issue. This would be the company's third attempt to go public.