With muted response on day 1, Keystone Realtors IPO of Rs 635 crore was subscribed 10% by 11 AM on day 2. According to the subscription data from BSE, investors made 9,19,917 bids out of 86,47,858 shares total available for subscription. The quota for retail bidders was subscribed 15%, while that for non-instituonal invetors stood at 13%. Qualified instituional buyers bought 756 shares against the reserved portion of 24,70,816 shares.
The company is offering shares in the range of Rs 514-541 a piece and the IPO subscription is open between November 14 to 16. Investors can apply for 27 equity shares in a lot. The offer comprises of fresh issue of equity shares worth Rs 560 crore and Offer For Sale of Rs 75 crore.
Keystone Realtors has reduced its offer size to 86.47 lakh shares from 1.17 crore shares after raising Rs 190.5 crore through anchor investors.
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