Rustomjee is a leading real estate company operating from Mumbai, founded in the year 1996, and is all set to float its IPO of its parent company Keystone realtors worth Rs1000 crores.
As per the information available in the market, the firm is set to file its draft red herring Prospectus with market regulators, the Securities exchange board of India (SEBI), very soon
FOURTH REAL ESTATE FIRM TO GO PUBLIC IN THE LAST DECADE
Keystone is the fourth real estate company to go public in the last 10 years. In the previous calendar year, Macrotech Developers (Lodha Group) and Shriram Properties launched their IPOs to raise ₹2,500 crores and ₹600 crores, respectively.
FINANCIAL SNAPSHOT OF KEYSTONE REALTORS
Rustomjee in FY22 has recorded a sale of Rs2,680 crores. The firm has a portfolio of 20 million sq ft of completed projects, 9.2 million sq ft of ongoing development, and 16.4 million square feet of planned development projects across the Mumbai Region.
PRE-IPO PLACEMENT WORTH Rs170 CRORES
The firm, even before it comes with its IPO, has already raised funds amounting to Rs170 crores in pre -IPO placement. The deal was 100% primary infusion from HDFC capital, IIFL, and the family office of Jagdish Master. Axis capital remained the sole advisor of the transaction.
More details on the IPO are yet to come
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