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Kalpataru IPO: Mumbai Real Estate Developer Raises ₹708 Crore from Anchor Investors

Published: June 23, 2025 | Category: real estate news
Kalpataru IPO: Mumbai Real Estate Developer Raises ₹708 Crore from Anchor Investors

Mumbai-based real estate developer Kalpataru Ltd completed its anchor investor round on Monday, 23 June 2025. The company raised ₹708 crore from its anchor investors ahead of the public issue, according to an exchange filing.

As per the BSE filing, Kalpataru Ltd allotted a total of 1,71,09,783 or more than 1.71 crore equity shares to the anchor investors at an allocation price of ₹414 per share, with a face value of ₹10 apiece.

The Government of Singapore, GSS Opportunities Investment (Bain Capital), SBI Mutual Fund, ICICI Prudential Mutual Fund, SBI General Insurance, Aditya Birla Sun Life, and 360 ONE WAM were among the top anchor investors who invested in the public issue ahead of the public subscription.

Out of the total 16 individual allotments, the Government of Singapore was allocated 32.87 per cent of the anchor portion. GSS Opportunities Investment (Bain Capital) came in second with 24.17 per cent allocation, and the Monetary Authority of Singapore received 9.48 per cent ahead of the public bidding.

As of Monday, 23 June 2025, the grey market premium for the Kalpataru IPO stood at ₹5 per share. With the upper price band for the public issue at ₹414, the public issue is expected to be listed at ₹419, a listing premium of 1.21 per cent, according to Investorgain.com. Grey market premium (GMP) is an indicator of investors' willingness to pay more for a public issue. The GMP of the IPO dropped to its current level of ₹3 per share on Monday, from its earlier level of ₹9 per share.

The Mumbai-based real estate developer Kalpataru is offering a fresh issue of ₹1,590 crore without any offer-for-sale (OFS) component. The company fixed the price band for the issue in the range of ₹387 to ₹414 per equity share with a face value of ₹10 apiece and a lot size of 36 shares per lot. The IPO is scheduled to open on Tuesday, 24 June 2025, and will close on Thursday, 26 June 2025.

The company plans to use the net proceeds from the issuance for several purposes, including the repayment or prepayment, either entirely or partially, of specific borrowings obtained by the company and its Subsidiaries, as well as for general corporate needs.

ICICI Securities Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers for the public issue, while MUFG Intime India Pvt Ltd is the registrar for the offer.

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Frequently Asked Questions

1. What is the total amount raised by Kalpataru from anchor investors?
Kalpataru Ltd raised ₹708 crore from its anchor investors ahead of the public issue.
2. How many equity shares were allotted to the anchor investors?
Kalpataru Ltd allotted a total of 1,71,09,783 or more than 1.71 crore equity shares to the anchor investors.
3. Who are the top anchor investors in the Kalpataru IPO?
The top anchor investors include the Government of Singapore, GSS Opportunities Investment (Bain Capital), SBI Mutual Fund, ICICI Prudential Mutual Fund, SBI General Insurance, Aditya Birla Sun Life, and 360 ONE WAM.
4. What is the grey market premium for the Kalpataru IPO?
The grey market premium for the Kalpataru IPO stood at ₹5 per share as of 23 June 2025, with a listing premium of 1.21 per cent.
5. What is the price band for the Kalpataru IPO?
The price band for the Kalpataru IPO is set in the range of ₹387 to ₹414 per equity share with a face value of ₹10 apiece and a lot size of 36 shares per lot.