InvestorQ : Can you tell me about the IPO of Rustomjee Builders?
Sam Eswaran made post

Can you tell me about the IPO of Rustomjee Builders?

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Moii Chavate answered.
3 weeks ago
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There have been a string of IPOs in the recent few weeks and one more is opening in the coming week. The Rs635 crore IPO of Keystone Realtors (Rustomjee) will open on 14th November and close for subscription on 16th November. . The size of the IPO has been cut from the originally planned Rs850 crore due to unfavourable market conditions. The IPO will comprise of a fresh issue of shares of Rs560 crore and an offer for sale or OFS of Rs75 crore. Rustomjee, as the brand is popularly known as in the Western region, will use the fresh issue proceeds to repay / prepay its outstanding loans of Rs342 crore to reduce leverage and cost of funding as well as to fund purchase of land parcels. It was founded in 1995.

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