Keystone Realtors IPO
Keystone Realtors Limited (RUSTOMJEE) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 24 November 2022.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -3.3% (likely range -5% to +7%), day's high +8.4%, chance of a gain 33%. Actual: +2.6% at the open, +5.3% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 24,70,816 | 94,77,918 | 3.84x | |
| NII (HNI) total | 18,53,113 | 56,15,217 | 3.03x | |
| Big NII (above ₹10 lakh) | 12,35,408 | 46,73,025 | 3.78x | |
| Small NII (₹2-10 lakh) | 6,17,705 | 9,42,192 | 1.53x | |
| Retail | 43,23,929 | 22,79,259 | 0.53x | |
| Total | 86,47,858 | 1,73,72,394 | 2.01x |
Bids on NSE and BSE together, as published by NSE, as of 16 Nov 2022, 07:00 PM. Shares offered exclude the anchor portion. 11% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Keystone Realtors's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| GTPL HathwayJun 2017 | 1.48x | 2.85x | 0.99x | 1.53x | ₹492 Cr | 0.0% | +2.9% |
| S J S EnterprisesNov 2021 | 1.42x | 2.32x | 1.38x | 1.59x | ₹817 Cr | 0.0% | +1.7% |
| Macrotech DevelopersApr 2021 | 3.05x | 1.44x | 0.40x | 1.36x | ₹2,516 Cr | -10.3% | -1.6% |
| Prince Pipes and FittingsDec 2019 | 3.54x | 1.21x | 1.89x | 2.21x | ₹503 Cr | -10.1% | -0.1% |
| Chalet HotelsJan 2019 | 4.66x | 1.10x | 0.03x | 1.57x | ₹1,649 Cr | +5.0% | +7.1% |
| Metro BrandsDec 2021 | 8.49x | 3.02x | 1.13x | 3.64x | ₹1,368 Cr | -12.6% | +1.6% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Axis Capital | 107 | +20.4% | 73% |
| Credit Suisse Securities (India) | 11 | +15.6% | 82% |
Offer documents (NSE)
Frequently asked
What is the Keystone Realtors IPO price band and lot size? ₹514–541 per share, with a lot of 27 shares, so the smallest retail bid is ₹14,607.
How many times has it been subscribed? 2.01x overall: QIB 3.84x, NII 3.03x, retail 0.53x.
How did it list? It opened at ₹555, +2.6% against the issue price of ₹541, and closed its first day +2.9%.
