Of Rustamji Group (Rustomjee Group) The company Keystone Realtors (KEYSTONE REALTORS) Through IPO, Rs. SEBI to raise Rs 850 crore (SEBI) Has submitted preliminary documents. According to the draft documents, Rs. Up to 700 crore new shares will be announced. The promoters of the company paid Rs. Will bring up to Rs 150 crore Off Off Sale (OFS). In OFS, Bowman Rustam Irani, Percy Sorabji Chaudhary and Chandresh Dinesh Mehta won Rs. 75 crore, Rs. 37.5 crore and Rs. 37.5 crore includes sale of shares.
Keystone Realtors raised Rs. 427 crore. In addition the company will use some of the money for loan repayment or prepayment and the rest will be used for future real estate projects and general corporate purposes.
Know the financial position of the company
Axis is the manager of Capital and Credit Suisse issue. In FY 2021, the company’s Consolidated Revenue stood at Rs. 848.72 crore. The company had a revenue of Rs 1,211.47 crore in FY20. The company’s net profit for the financial year 2021 was Rs. 14.50 crore as compared to Rs. 231.82 crore. By December 2021, a total of Rs. The debt was Rs 1,439.18 crore. These are one of the leading real estate developers in the micro market. The company has offices in Juhu, Bandra East, Khar, Bhandup, Virar and Thane. These MMRs are able to get premium prices in the micro-market where their projects are located.
32 projects completed by March 2022
As on March 31, 2022, the real estate company has completed 32 projects in the Mumbai Metropolitan Region. Work is underway on 12 projects and 19 projects are to be launched. The Rustamji brand has the categories of Affordable, Mid and Mass, Aspirational, Premium and Super Premium.
Developed 20.05 million square feet of space under residential buildings, premium garret estates, townships, corporate parks, retail spaces, schools, iconic landmarks and many other real estate projects. Last year, Mumbai-based Microtech Developers Ltd., which sells under the Lodha brand, and Bengaluru-based Shriram Properties Ltd. raised Rs. 2,500 crore and Rs. 600 crore were collected.
A big drop in the market
Inflation in the US has broken a 41-year record, putting pressure on the Federal Reserve to raise interest rates. FOMC results will be released on June 15. The Sensex was down 1,456 points at 52,846 and the Nifty was down 427 points at 15,774. Experts say today’s decline has sunk about Rs 7 lakh crore to investors.
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