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The latest chapter in the debate around gentrification in Nicholtown is a six-house project that Greenville-based developer Saint Capital hopes to build at the intersection of Glenn Road and East
Radiant Cash Management Services Ltd has garnered Rs 116.38 crore from anchor investors ahead of its initial public offering that opens for public subscription on Friday, December 23, 2022.
Shares of Keystone Realtors rose nearly 7% today after Plutus Wealth Management purchased 17.1 lakh shares or 1.5% stake in the Rustomjee Group company at an average price of Rs 555.03 per share on NSE. The transaction was worth Rs 94.91 crore. Keystone Realtors stock surged 6.85% to Rs 596 today against the previous close of Rs 557.80 on BSE. Market cap of the firm rose to Rs 6,454.57 crore. Total 1.42 lakh shares changed hands amounting to a turnover of Rs 8.16 crore on BSE. On Thursday, Keystone Realtors stock listed at a 2.60 per cent premium to its issue price of Rs 541 per share.
As part of the OFS, promoter Boman Rustom Irani will sell shares worth up to Rs 37.5 crore, while shares worth Rs 18.75 crore each will be offloaded by Percy Sorabji Chowdhry and Chandresh Dinesh Mehta.
The biggest test will be how LIC stock performs over a longer period. On that, there may be further disappointment if earlier state-owned IPOs are anything to go by.
Anchor investors are institutional investors who are allotted shares before an IPO opens but they have to hold their shares for a certain period after listing