Kalpataru Ltd Aims to Raise Rs 1590 Crore via IPO to Reduce Debt
Kalpataru Ltd, a Mumbai-based real estate firm, has filed draft papers with SEBI to raise up to Rs 1590 crore via IPO.
IpoKalpataruReal EstateInitial Public OfferingFundraisingReal Estate MumbaiAug 15, 2024
The proceeds from the IPO will be used to repay/prepay certain borrowings, aggregating up to Rs 1192.5 crore. This move is expected to help the company reduce its debt and strengthen its financial position.
Kalpataru Ltd is an integrated real estate development company involved in all key activities associated with real estate development, including land acquisition, planning, designing, execution, sales, and marketing of its projects. The company has a portfolio of 40 ongoing, forthcoming, and planned projects, comprising 49.77 million square feet area.
Currently, 25 projects with 22 million square feet are underway, with a majority of them located in the Mumbai Metropolitan Region (MMR) and Pune, Maharashtra. The company also has two ongoing projects in Hyderabad, Telangana, and Noida, Uttar Pradesh, and land banks in Surat, Gujarat; Nagpur, Maharashtra; and Udaipur, Rajasthan.
Kalpataru Ltd is part of the Kalpataru group, which was established in 1969 by Mofatraj P Munot. The group has a legacy of 55 years and has a multi-national presence, with operations in EPC contracting for power transmission and distribution, oil and gas, railways, civil infrastructure projects, warehousing and logistics, and facility management.
ICICI Securities Ltd, JM Financial Ltd, and Nomura Financial Advisory and Securities (India) Private Ltd are the book running lead managers for the issue.
The company's decision to go public is expected to provide a boost to the real estate sector, which has been facing challenges in recent times. The IPO is also likely to provide an opportunity for investors to participate in the growth story of the company.
With a strong track record of delivering quality projects and a diversified portfolio, Kalpataru Ltd is well-positioned to capitalize on the growing demand for housing and commercial spaces in the country.
Frequently Asked Questions
What is the purpose of Kalpataru Ltd's IPO?
The company aims to raise up to Rs 1590 crore via IPO to repay/prepay certain borrowings and reduce its debt.
What is the size of Kalpataru Ltd's project portfolio?
The company has a portfolio of 40 ongoing, forthcoming, and planned projects, comprising 49.77 million square feet area.
Where are Kalpataru Ltd's projects located?
A majority of the company's projects are located in the Mumbai Metropolitan Region (MMR) and Pune, Maharashtra, with two ongoing projects in Hyderabad, Telangana, and Noida, Uttar Pradesh.
Who are the book running lead managers for the issue?
ICICI Securities Ltd, JM Financial Ltd, and Nomura Financial Advisory and Securities (India) Private Ltd are the book running lead managers for the issue.
What is the legacy of the Kalpataru group?
The Kalpataru group was established in 1969 by Mofatraj P Munot and has a legacy of 55 years.
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