Real Estate - Listed on 24 November 2022
Keystone Realtors (Rustomjee) (Real Estate) closed its IPO window in 2022 and listed on NSE and BSE on 24 November 2022 at an upper band issue price of Rs 541, opening at Rs 556.85 for a listing gain of +2.9% and closing day one at Rs 547 (+1.1% on closing basis). The IPO was subscribed 13.45x overall - QIB 24.41x, HNI/NII 22.78x, Retail 3.53x. The total issue size was Rs 582.56 Cr (Fresh Issue Rs 445 Cr, OFS Rs 137.56 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Real Estate
Keystone Realtors (Rustomjee) operates in the Real Estate space. The company’s listed profile is shaped by its operating niche, customer demand and ability to convert that demand into steady cash flows. Investors should read its exchange filings alongside the headline listing numbers for a fuller view of the business.
Issue structure, listing outcome and context
The Keystone Realtors (Rustomjee) issue was offered at an upper price of Rs 541 and raised approximately Rs 582.56 crore. The final outcome reflected a mix of subscription demand, valuation, market conditions and the company’s own operating story. Fresh issue and offer-for-sale details, where available, are shown in the issue metrics below.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 0 | 0.00% |
| Day 2 | Rs 0 | 0.00% |
| Day 3 | Rs 5 | +0.92% |
| Day 4 | Rs 5 | +0.92% |
| Day 5 | Rs 5 | +0.92% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
How the broader market moved around the Keystone Realtors (Rustomjee) IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Keystone Realtors (Rustomjee) IPO listed at +2.9% versus the upper issue price of Rs 541 on 24 November 2022.
Keystone Realtors (Rustomjee) IPO was subscribed 13.45x overall. QIB portion was subscribed 24.41x, HNI / NII 22.78x and Retail 3.53x.
IPO GMP started at Rs 0 on Day 1 and moved to Rs 5 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.