Kalpataru Limited Sets Sights on ₹1,590 Crore IPO for Major Debt Repayment and Future Growth
Prominent real estate developer Kalpataru Limited has announced its Initial Public Offering (IPO) to raise ₹1,590 crores. The public issue, which is entirely a fresh issue of 3.84 crore equity shares, is set to open for subscription on Tuesday, June 24, 2025, and will close on Thursday, June 26, 2025.
Kalpataru Limited IPO Price-band
The Mumbai-based company, a significant player in the Indian real estate sector since 1988, has fixed the price band for its IPO at ₹387 to ₹414 per equity share. The upcoming ₹1,590 crore IPO includes a notable benefit for employees in the form of an employee discount. Eligible employees will receive a discount of ₹38 per share on the final issue price, offering them a more attractive entry point into the company’s equity.
Kalpataru Limited IPO Objectives
The proceeds from the public offering are primarily earmarked for the repayment or prepayment of certain borrowings availed by the company and its subsidiaries, amounting to an estimated ₹11,925 million. The remaining funds will be allocated for general corporate purposes.
This strategic move to go public is aimed at deleveraging the company’s balance sheet and strengthening its financial position for future projects. Kalpataru is a key entity within the Kalpataru Group and has a strong presence across several major Indian cities, including Mumbai, Thane, Pune, and Bengaluru. The company has a track record of completing 70 projects and currently has 40 ongoing projects as of March 31, 2024.
Kalpataru Limited IPO Lot-Size
Retail investors looking to participate in the IPO will need to bid for a minimum lot of 36 shares, translating to a minimum investment of ₹13,932 at the lower end of the price band and ₹14,904 at the cut-off price. The company has suggested that investors bid at the cut-off price to enhance their chances of allotment, particularly in an anticipated oversubscription scenario. Retail investors can bid for a maximum of 13 lots.
Kalpataru Limited IPO Reservation
The IPO reserves not less than 75% of the net issue for Qualified Institutional Buyers (QIBs), not more than 15% for Non-Institutional Investors (NIIs), and not more than 10% for retail investors.
Following the closure of the subscription period, the allotment of shares is expected to be finalized on Friday, June 27, 2025. Unsuccessful applicants can expect refunds to be initiated on Monday, June 30, 2025, with the shares being credited to the demat accounts of the allottees on the same day. The company’s shares are slated for a tentative listing on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Tuesday, July 1, 2025.
Kalpataru Limited IPO Lead Managers & Registrar
ICICI Securities Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Pvt Ltd are the book-running lead managers for the issue. Link Intime India Private Limited has been appointed as the registrar for the IPO.
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