Keystone Realtors issues shares to Quant MF, SBI Life, ADIA via Rs 800 crore QIP

Over the past year, the Rustomjee parent's share price has gained around 38 percent in trade.

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26 Aug, 2025 12:21

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Mumbai-based real estate developer Keystone Realtors successfully raised Rs 800 crore through the qualified institutional placement (QIP) route, said the Rustomjee operator in an exchange filing.

After completing its fundraising, Keystone Realtors closed its QIP issue on May 27. The real estate major approved the issue of 1.21 crore equity shares at Rs 660 per share, which comes as a 7.7 percent discount to the previous session's close.

Quant MF, SBI Life Insurance, and SBI General Insurance each received over 5 percent of the QIP shares.

Additionally, the Abu Dhabi Investment Authority, Morgan Stanley India, and the Quantum-State Investment Fund were among the institutions that were allocated shares through the QIP.

Follow our market blog to catch all the live updatesAllottees who have been allotted over 5 percent of equity shares in the QIP

Keystone Realtors had decided to raise funds through a Qualified Institutional Placement (QIP), with a floor price at Rs 682.51 per share, according to an exchange filing on May 22.

Rustomjee Group plans to focus on constructing homes in the range of Rs 1-7 crore, and aiming to be a dominant player in Mumbai's redevelopment segment.

It has no plans to foray outside the Mumbai Metropolitan Region (MMR), chairman Boman Irani told Moneycontrol earlier this year.

Over the past year, the Rustomjee parent's share price has gained around 38 percent in trade. In comparison, the frontline index Nifty 50 has risen around 26 percent during the same time period.

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