Realty firm Keystone Realtors Ltd on Tuesday (October 14) announced the launch of an Offer for Sale (OFS), with promoters Boman Rustom Irani, Chandresh Dinesh Mehta, and Percy Chowdhry set to divest up to 3.63% of the company’s equity.
The indicative offer size is valued at up to ₹251.7 crore. The OFS comprises up to 4,576,000 shares, translating to approximately 3.63% of Keystone Realtors’ total equity. The floor price has been set at ₹550 per share, representing a discount of around 10.2% to the last closing price of ₹612.45 on the National Stock Exchange (NSE) as of October 14, 2025.
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In August this year, Keystone Realtors said it is confident of continuing as a dominant developer and preferred partner in redevelopment projects. Chairman and Managing Director Boman Rustom Irani said the company has achieved more than 25% of its annual pre-sales guidance in the first quarter, traditionally the slowest period.
“We’ve already locked in projects worth over ₹7,700 crore against our full-year guidance of ₹6,000 crore,” he said, adding that the April-June 2025 quarter of the financial year 2025-26 (FY26) also saw project launches worth nearly ₹4,000 crore.
Irani reiterated that the developer remains largely Mumbai and MMR-centric. “We will stay so for a very long time… we understand the pulse of this market,” he said. The company plans to launch its ₹1,000-crore GDV Nagpur project this year or in early 2026-27 (FY27), marking a small-scale entry into the city with an investment of about ₹22 crore.
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Shares of Keystone Realtors Ltd ended at ₹608.90, down by ₹1.90, or 0.31%, on the BSE.
