Keystone Realtors on November 11 mobilised Rs 190.5 crore via anchor book, ahead of its initial public offering.
The realty developer Rustomjee Group company-owned said after consultation with merchant bankers, it has finalised allocation of 35.21 lakh equity shares to anchor investors at Rs 541 per share.
Total 16 anchor investors bought shares in the company via anchor book. The list includes names such as Abu Dhabi Investment Authority, Morgan Stanley, Aditya Birla Sun Life, SBI Life Insurance, IDFC Mutual Fund, Tata Mutual Fund, HDFC Life Insurance Company, IIFL Special Opportunities Fund, Saint Capital Fund and BNP Paribas Arbitrage.
Keystone Realtors will open its maiden public issue for subscription on November 14, with a price band of Rs 514 - Rs 541 per share.
The company is planning to raise Rs 635 crore via public issue that will close on November 16.
The offer comprises a fresh issuance of shares worth Rs 560 crore, and an offer for sale of Rs 75 crore by selling shareholders.
The company will utilise issue proceeds for repaying debts and acquisition of future real estate projects, besides general corporate purposes.
Half of the offer has been reserved for qualified institutional buyers, 15 percent for high networth individuals, and the balance 35 percent for retail investors.
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