Kalpataru Ltd Aims to Raise Rs 1,590 Crore through IPO to Ease Debt Burden
Mumbai-based real estate firm Kalpataru Ltd has filed a draft prospectus with SEBI to launch an IPO, aiming to raise Rs 1,590 crore to reduce its debt.
Kalpataru LtdIpoReal EstateMumbaiSebiReal Estate MumbaiAug 15, 2024
The funds raised through the IPO will be utilized to repay or prepay certain borrowings, with Rs 1,192.5 crore earmarked for this purpose. This move is expected to ease the company's debt burden and provide a boost to its financial health.
Kalpataru Ltd has a diverse portfolio of 40 ongoing, forthcoming, and planned projects, spread across 49.77 million square feet. The company has a significant presence in the Mumbai Metropolitan Region, Pune, and also has projects in Hyderabad and Noida.
Kalpataru Ltd is part of the 55-year-old Kalpataru Group, which has a multinational presence and diverse operations. The group's experience and expertise in the real estate sector are expected to support Kalpataru Ltd's growth plans.
The IPO filing is subject to regulatory approvals and market conditions. If successful, the IPO will provide Kalpataru Ltd with the necessary funds to drive its growth plans and expand its presence in the Indian real estate market.
Information
Kalpataru Ltd is a leading real estate firm based in Mumbai, with a strong presence in the Indian real estate market. The company has a portfolio of residential, commercial, and industrial projects across various cities in India.
Kalpataru Group is a 55-year-old multinational conglomerate with diverse operations in real estate, engineering, and procurement. The group has a strong presence in India and internationally, with a reputation for delivering high-quality projects and services.
Frequently Asked Questions
What is the purpose of Kalpataru Ltd's IPO?
The purpose of the IPO is to raise funds to repay or prepay certain borrowings and ease the company's debt burden.
How much does Kalpataru Ltd aim to raise through the IPO?
Kalpataru Ltd aims to raise up to Rs 1,590 crore through the IPO.
What is the value of the shares being issued in the IPO?
The shares being issued in the IPO are valued at Rs 10 each.
What is the portfolio of Kalpataru Ltd?
Kalpataru Ltd has a diverse portfolio of 40 ongoing, forthcoming, and planned projects, spread across 49.77 million square feet.
What is the experience of Kalpataru Group in the real estate sector?
Kalpataru Group has a 55-year-old experience in the real estate sector, with a multinational presence and diverse operations.
Related News Articles
Kerala's Transformation into a Top Investment Destination
Kerala is emerging as a leading investment hub, attracting both domestic and international investors with its robust infrastructure, skilled workforce, and favorable policies.
Gaikwad Leads Maharashtra's Impressive Show in Ranji Trophy Group A
Maharashtra's strong reply against Mumbai in the Ranji Trophy Group A match, led by Gaikwad's brilliant performance, has set the stage for an exciting cricketing showdown.
India's Growing Demand for Data Center Real Estate
India is set to witness a significant surge in the demand for data center space, with an estimated requirement of 18 million square feet over the next 4-5 years. This growth is driven by increasing digital adoption and the government's push for data local
IMC Sets New Benchmark with Record-Breaking Mumbai Office Lease
Real Estate giant IMC leases office space in Mumbai's Maker Maxity 4 North Avenue building, setting a new record for one of India's highest rental deals.
Singing Real Estate Agent Snags Investor for $1.6 Million Auckland Castle
In a unique twist on traditional real estate marketing, a singing agent from Auckland, New Zealand, has successfully attracted an investor who purchased a historic castle for a whopping $1.6 million. This unconventional approach to property sales highlights the potential of creative marketing strategies in the competitive real estate market.
Tragic Incident: 4 Workers Suffocate While Cleaning Water Tank in Mumbai
Four labourers tragically lost their lives while cleaning a water tank in Mumbai. The incident highlights the dangers of working in confined spaces and the need for better safety measures.