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Deal: Trilegal advises Keystone Realtors (Rustomjee) on its Qualified Institutions Placement

04 Jun 2024

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Trilegal advised Keystone Realtors Limited (“Rustomjee”) on its qualified institutions placement of equity shares aggregating to INR 8,000 million (“QIP”).

Rustomjee is a prominent real estate developer based out of Mumbai and has developed properties, including various high-value projects. The proceeds from the QIP shall be utilised for debt repayment, partially funding the land acquisition, associated costs, considerations and general corporate purposes.

This is the first ever QIP undertaken by a company, subsequent to the notification of the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2024, pertaining to the amendments regarding the pricing notification. This involved a detailed analysis from a regulatory perspective, keeping in mind the market practice for the approach towards this new change.

The syndicate of merchant bankers comprised JM Financial Limited, Axis Capital Limited and Kotak Mahindra Capital Company Limited.

The transaction was led by Partner, Richa Choudhary, and comprised Counsel, Avanti Kale, and Associates Aman Bahl, Urmil Shah, Shivayana Balodia and Archit Jain.

Media link:

Rustomjee’s parent entity Keystone Realtors closes QIP after strong demand – Money Control

Keystone Realtors Raises Rs 800 Crore In QIP Led By Quant Mutual Fund, SBI Life – NDTV Profit

Keystone Realtors Raises Rs 800 Crore Through QIP – Angel One

About Trilegal

Trilegal is one of India’s leading law firms, with expertise across the full spectrum of corporate legal services. Trilegal has offices in four key cities of India.

Trilegal has been recognised as the India Deal Firm of the Year by Asian Legal Business (ALB) India Law Awards 2023; one of the ‘Best Overall Law Firms’ at the India Business Law Journal Indian Law Firm Awards 2022; ‘Firm of the year’ for Client Service Excellence by Asia Law Awards 2021; “M&A Law firm of the Year” by VCCircle Awards 2020 one of the most innovative law firms in Asia in the inaugural edition of ALB Trailblazers 2020; and ‘highly commended’ in the FT RSG Innovative Lawyers Awards 2020.

For more information, please contact:

Sahil Wason
Mob: +91-8928008122 | BD@trilegal.com

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