- Bid/ offer closing date – Thursday, June 26, 2025
- The anchor investor bidding date is one working day prior to bid/ offer opening date, being Monday, June 23, 2025
- Bids can be made for a minimum of 36 Equity Shares and in multiples of 36 Equity Shares thereafter
- The company aims to reduce its existing debt, stated at ₹10,186.6 crore as of April 2025, by utilising ₹ 1,193 crore from the IPO proceeds
NE BUSINESS BUREAU
AHMEDABAD, JUNE 20
Kalpataru Limited, one of the prominent real estate developers in the Mumbai Metropolitan Region of Maharashtra (MMR) and present across all its micro-markets in MMR, on Friday announced it will open its initial public offering (IPO) on Tuesday, June 24, 2025.
The anchor investor bidding date is one working day prior to bid/issue opening date, that is, Monday, June 23, 2025. the bid/ issue closing date will be on Thursday, June 26, 2025.
The price band of the issue has been fixed from ₹387 per equity share to ₹414 per equity share of the face value of ₹10. Bids can be made for a minimum of 36 equity shares and multiples of 36 equity shares thereafter.
The Issue consists of a fresh issue of up to such number of Equity Shares aggregating up to ₹1,590 crore. There is no offer for sale (OFS) component.
A discount of ₹38 per Equity Share is being offered to Eligible Employees Bidding in the Employee Reservation Portion.
The Company proposes to utilize the net proceeds from the Issue towards repayment/pre-payment, in full or part, of certain borrowings availed by the Company and the subsidiaries; and general corporate purposes.
The company aims to reduce its existing debt, stated at ₹10,186.6 crore as of April 2025, by utilising ₹ 1,193 crore from the IPO proceeds.
Kalpataru IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. A discount of ₹38 per equity shares is being offered to eligible employees bidding in the employee reservation portion.
Kalpataru Limited, established in 1988, is a real estate development firm located in Mumbai, Maharashtra.
The company focuses on the development of residential and commercial properties, retail environments, and integrated townships in various cities across India, such as Mumbai, Thane, Panvel, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur.
Kalpataru Limited is a subsidiary of the Kalpataru Group, which comprises Kalpataru Projects International Limited, Property Solutions (India) Private Limited, Shree Shubham Logistics Limited, along with their subsidiaries and others.
Kalpataru Ltd competes with prominent players in the real estate sector such as Oberoi Realty and Godrej Properties. The company’s focus spans luxury, premium, and mid-income residential, commercial, and retail projects, along with integrated townships and lifestyle gated communities. As of March 2024, Kalpataru has 40 ongoing projects and has successfully completed 70. The company’s total market capitalisation at the upper end of the price band is estimated to be ₹8,524 crore.
The competitive landscape includes various established real estate developers, positioning Kalpataru prominently within the Mumbai Metropolitan Region. The company’s rich portfolio signifies its robust presence and strategic positioning in the market.
Kalpataru share price is likely to be listed on BSE and NSE on Tuesday, July 1.
ICICI Securities Limited, JM Financial Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers (BRLMs) to the Issue.
