Nitesh Estates Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 37,500,000 (50%) | — | ₹21,000 Cr |
| NII (HNI) | — | 11,250,000 (15%) | — | ₹6,300 Cr |
| Retail | — | 26,250,000 (35%) | — | ₹14,700 Cr |
| Σ Total | — | 75,000,000 (100%) | — | ₹420,000 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹5,600 |
| Retail (Max) | 13 | 1,300 | ₹72,800 |
| S-HNI (Min) | 14 | 1,400 | ₹78,400 |
| B-HNI (Min) | 67 | 6,700 | ₹375,200 |
Financial Statements Amount in ₹ Crore
| Metric | 30-Sep-09 | 31-Mar-09 | 31-Mar-08 |
|---|---|---|---|
| Revenue | 46 | 87 | 69 |
| Profit After Tax | 6 | 3 | 1 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Acquire joint development rights by the Company – 24.00
- 2 Fund the existing Subsidiaries and the Associate company, for repayment/prepayment of loans, redemption of debentures, finance Ongoing Projects and finance the acquisition of joint development rights – 937.64
- 3 Repay certain loans of the Company – 41.54
- 4 Fund the expenditure for general corporate purposes – 17.58
Company Overview
Incorporated in 2004, Nitesh Estates Limited is in the business of real estate development, primarily residential projects in Bengaluru. They are also developing a hospitality project in Bengaluru and a residential and an office project in Kochi. Nitesh Estates is in the process of diversifying into the development of shopping-malls and are expanding geographic reach to Chennai and Goa. Company's residential projects include multi-unit apartment buildings targeted at high-income and middle-income customers. Nitesh Estates is also developing its first hospitality project, the first ‘Ritz-Carlton’ brand hotel in India, on Residency Road in the central business district of Bengaluru.
Nitesh Estates has developed three residential projects totalling 0.55 million sq. ft. of Saleable Area and Developable Area. Company is developing 5 residential, 1 hospitality and 1 office projects. Company also has 3 residential, 1 shopping-mall and 1 mixed-use real estate projects inline for future development.
Completed Projects of the Nitesh Estates are:
1. Nitesh Long Island, completed in 2009, a built-to-suit premium corporate residential project near Bellary Road, Bengaluru;
2. Nitesh Wimbledon Park, completed in 2007, a premium residential project, located on Race Course Road, Bengaluru; and
3. Nitesh Mayfair, completed in 2007, a premium residential project, located on Lavelle Road, Bengaluru.
Ongoing Projects are Nitesh Hyde Park, located at Bannerghatta Road, Nitesh Forest Hills in Whitefield, Nitesh Flushing Meadows in Whitefield, Nitesh Columbus Square at off Bellary Road, Nitesh Wimbledon Gardens (Residential)at Airport-Seaport road in Kochi, Nitesh Wimbledon Gardens (Commercial), located at Airport-Seaport road in Kochi and the 'Ritz-Carlton' brand hotel with 281 keys, located at Residency Road in the central business district of Bengaluru.