- Plans to raise ₹1,590 cr via fresh issue
- The company proposes to utilize the net proceeds towards repayment or pre-payment of certain borrowings and general corporate purposes
NE BUSINESS BUREAU
MUMBAI, AUGUST 20
Kalpataru Ltd, the Mumbai-based real estate developer, has filed its Draft Red Herring Prospectus (DRHP) with capital market regulator Securities and Exchange Board of India (SEBI) to raise funds via initial public offering (IPO).
Kalpataru IPO comprises a fresh issue of equity shares worth ₹1,590 crore of face value of ₹10 each, according to the DRHP.
The company proposes to utilize the net proceeds towards repayment or pre-payment of certain borrowings and general corporate purposes.
Kalpataru is an integrated real estate development company in the Mumbai Metropolitan Region (MMR) with presence across all micro-markets in the MMR. It is involved in all key activities associated with real estate development, including the identification and acquisition of land, planning, designing, execution, sales, and marketing of their projects.
ICICI Securities, JM Financial and Nomura Financial Advisory and Securities (India) are the Book Running Lead Managers for the Kalpataru IPO and Link Intime India is the IPO registrar.
