Keystone Realtors Limited has notified the stock exchanges regarding a significant Offer for Sale (OFS) of its equity shares by three promoters: Boman Rustom Irani, Percy Sorabji Chowdhry, and Chandresh Dinesh Mehta .
The proposed transaction aims to sell up to 45,76,000 Equity Shares of the company.
This quantity represents 3.63% of the total issued and paid-up Equity Share capital of Keystone Realtors Limited as of October 14, 2025.
The primary motivation for undertaking the Offer is achieving the minimum public shareholding requirements mandated under Rule 19(2)(b) and Rule 19A of the Securities Contracts (Regulation) Rules, 1957, and Regulation 38 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
This method is a permissible mechanism prescribed by the SEBI MPS Circular.
Floor Price and Schedule:
The Sellers have set the Floor Price for the Offer at ₹550 (Rupees Five Hundred and Fifty only) per Equity Share.
The Stock Exchanges (BSE and NSE) are required to immediately disseminate this Floor Price information to the market. The National Stock Exchange of India Limited (NSE) has been designated as the primary stock exchange for the Offer.
The OFS is structured to take place over two trading days:
- T day (October 15, 2025): Bidding is exclusively reserved for non-Retail Investors, commencing at 9:15 a.m. IST and closing at 3:30 p.m. IST. Non-Retail Investors may indicate their willingness to carry forward any unallotted bids to the following day (T+1 day).
- T+1 day (October 16, 2025): Bidding is reserved for Retail Investors, running during the same trading hours. Non-Retail Investors who opted to carry forward unallotted bids from T day will also be eligible for allocation in the unsubscribed portion of the Retail Category.
Allocation and Bidding Details:
Allocation of shares will be conducted at or above the Floor Price based on a price priority basis, in accordance with OFS Guidelines.
Crucial allocation mandates include:
A minimum of 25% of the Offer Shares is reserved for Mutual Funds and Insurance Companies, contingent on receiving valid bids at or above the Floor Price.
A minimum of 10% of the Offer Shares shall be reserved for allocation to Retail Investors (individual investors bidding for shares valued up to ₹2,00,000 aggregated across stock exchanges).
Retail Investors have the option to place a price bid or bid at the Cut-off Price. No discount is being offered to Retail Investors.
The Sellers have appointed Spark Institutional Equities Private Limited (a subsidiary of Avendus Capital Private Limited) and Motilal Oswal Financial Services Limited as the Sellers’ Brokers.
Spark Institutional Equities Private Limited will also serve as the Settlement Broker.
The Sellers maintain the right to cancel the Offer in full on T day if sufficient demand is not secured from non-Retail Investors at or above the Floor Price.
Promoters and members of the Promoter Group (excluding the Sellers) are barred from participating in the Offer.
Keystone Realtors compliance:
This Notice was signed by Percy Sorabji Chowdhry and Chandresh Dinesh Mehta. The document functions as a Notice of the proposed offer for sale of equity shares of face value of ₹10 each of Keystone Realtors Limited.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
