Trilegal Advised Keystone Realtors Ltd (Rustomjee) On Its QIP

Trilegal Advised Keystone Realtors Ltd (Rustomjee) On Its QIP

Trilegal advised Keystone Realtors Ltd (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, and 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 Ltd, Axis Capital Ltd and Kotak Mahindra Capital Company Ltd.

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