Incorporated in 1995, Keystone Realtors is a Rustomjee Group company and is one of the prominent real estate developers. It is engaged primarily in the business of real estate construction, development and other related activities.
Last heard, the shares of Keystone Realtors were trading at a discount of Rs 5 in the grey market, hinting at some disappointment for investors on listing.
The company’s Rs 635 crore IPO was sold in the range of Rs 514-541 per share, and received a tepid investor response, subscribing only just more than twice between November 14-16.
The quota reserved for qualified institutional buyers (QIBs) was subscribed 3.84 times while the ones reserved for non-institutional investors (NIIs) and retailers were subscribed 3.03 times and 53%, respectively.
The majority of the brokerage firms remain positive on the issue in the longer run but are cautious over its valuations and high debt-to-equity ratio in the near term.
Investors, who had bid for the issue, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit
https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Keystone Realtors Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on ‘I am not a Robot’ and hit submit
You can also check the allotment status on the online portal of Link Intime India
Private Limited (
https://linkintime.co.in/MIPO/Ipoallotment.html), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications, and carries out the allotment process as per the prospectus.
The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading of refunds, and attending to all investor-related queries after the issue is completed.
1) Go to the web portal of Link Intime India Private Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalised
3) You may be required to select either one of the three modes: Application number, Client ID or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit
Bidders who could not get allotment in the IPO may see the initialisation of refunds on November 21. Others, who would be allotted shares may see the credit of shares in the demat account by November 22. The listing of the IPO is likely on November 23.
