Keystone Realtors, a company in the Rustomjee Group, made a muted entry in the stock market by listing at a 2.6 percent premium to its issue price of Rs 541 a share. The NSE and BSE opened trading in the shares at Rs. 555.
Investor interest in the company's initial public offering was underwhelming; between November 14 and 16, the offer was only subscribed 2.01 times. Retail investors bid for only 0.53 times the percentage permitted to them, while qualified institutional purchasers purchased shares 3.84 times the quota allotted and high net worth persons 3 times.
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