Kalpataru Group Gets SEBI Nod for Rs 1,590 Crore IPO
Real estate developer Kalpataru Group has received SEBI approval for its initial public offering (IPO) worth Rs 1,590 crore, primarily aimed at pre-paying borrowings and general corporate purposes. The company is a leading player in the Mumbai Metropolita
KalpataruIpoSebiReal EstateMmrReal Estate PuneNov 25, 2024
According to the IPO prospectus, the offer includes a fresh issue of up to Rs 1,590 crore. The funds raised will be primarily used for pre-paying certain borrowings and for general corporate purposes. This move is expected to strengthen Kalpataru's financial position and enable the company to expand its operations and project portfolio.
As of March 2024, Kalpataru has approximately 22.02 million square feet (msf) of area under development and 19.93 msf of upcoming projects. These projects are scheduled to be launched between fiscal years 2025 and 2027. The majority of its projects are concentrated in the MMR and Pune, with additional significant developments in Hyderabad, Noida, Nagpur, Surat, and Udaipur.
Leading the company are Mofatraj P. Munot and Parag M. Munot, who have been instrumental in establishing Kalpataru as the fifth-largest developer in the MMR. The company's robust project pipeline and strategic expansion plans underscore its commitment to delivering high-quality real estate solutions to a wide range of customers.
The IPO is a significant milestone for Kalpataru, as it marks the company's transition to a publicly listed entity. This will provide greater transparency and accountability while opening up new avenues for growth and investment. The company's strong track record and strategic positioning make it a lucrative investment opportunity for potential investors.
Frequently Asked Questions
What is the value of Kalpataru's IPO?
The value of Kalpataru's IPO is Rs 1,590 crore.
What is the primary purpose of the funds raised from the IPO?
The primary purpose of the funds raised from the IPO is to pre-pay certain borrowings and for general corporate purposes.
What is the total area under development by Kalpataru as of March 2024?
As of March 2024, Kalpataru has approximately 22.02 million square feet (msf) of area under development.
Which cities does Kalpataru have projects in apart from MMR and Pune?
Apart from MMR and Pune, Kalpataru has ongoing and upcoming projects in Hyderabad, Noida, Nagpur, Surat, and Udaipur.
Who leads Kalpataru Group?
Kalpataru Group is led by Mofatraj P. Munot and Parag M. Munot.
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