Sources say the base size is said to be Rs 8,000 crore, while the same source said the greenshoe option could be up to Rs 2,000 crore.
The floor price of the QIP has been fixed at ₹682.51 per share, a 6.4% discount to Keystone’s closing price on Wednesday. The suggested issue price of the QIP is said to be ₹660 a share, a 9.6% discount to Wednesday’s closing price, according to sources.
Keystone said in an exchange filing that it may offer up to a 5% discount from the floor price at its discretion.
QIP’s stock dilution is said to be close to 10.6%. Keystone Realtors’ promoters held 86.7% of the company’s shares as of March quarter holdings.
If the shares are diluted by 10.6%, the promoters’ stake in the company will drop to 76.1%.
Keystone Realtors reported pre-sales of Rs 2,266 crore in FY24, up 41% year-on-year. Full-year sales were 220.3 billion rupees, up 18% from last year.
At year-end, the company’s net debt was Rs 3,590 crore, with a net debt-to-equity ratio of 0.2 times.
Keystone Realtors shares closed 2.6 percent higher at £729 on Wednesday. The stock has risen 45 percent in the past 12 months.
