Kalpataru Ltd Files Draft Papers for ₹1,590 Crore IPO to Reduce Debt
Real estate firm Kalpataru Ltd has filed draft prospectus with SEBI to raise up to ₹1,590 crore through IPO, mainly to reduce debt.
Kalpataru LtdIpoReal EstateSebiMumbaiReal Estate MaharashtraAug 15, 2024
The company plans to use ₹1,192.5 crore for repayment/prepayment, in full or in part, of certain borrowings. Kalpataru Ltd is an integrated real estate development company involved in all key activities associated with real estate development, including the identification and acquisition of land, 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. Of these, 25 projects having 22 million square feet are currently underway. While a majority of the company's projects are located in the Mumbai Metropolitan Region (MMR) and Pune, Maharashtra, it has two ongoing projects in Hyderabad, Telangana and Noida, Uttar Pradesh.
Kalpataru Ltd is part of the Kalpataru group, which was established in 1969 by Mofatraj P Munot and has a legacy of 55 years. The Group has a multi-national presence and has 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.
About Kalpataru Ltd
Kalpataru Ltd is a real estate development company that has been in the business for over 55 years. The company has a strong presence in the Mumbai Metropolitan Region (MMR) and Pune, Maharashtra, and is expanding its presence in other parts of the country.
Kalpataru Group is a multi-national conglomerate with operations in various sectors, including real estate, EPC contracting, oil and gas, railways, civil infrastructure projects, warehousing and logistics, and facility management. The Group was established in 1969 by Mofatraj P Munot and has a legacy of 55 years.
Frequently Asked Questions
What is the size of Kalpataru Ltd's IPO?
The IPO size is up to ₹1,590 crore.
What is the purpose of the IPO?
The IPO is mainly to reduce debt.
How many projects does Kalpataru Ltd have in its portfolio?
The company has a portfolio of 40 ongoing, forthcoming and planned projects.
Where are Kalpataru Ltd's projects located?
The majority of the company's projects are located in the Mumbai Metropolitan Region (MMR) and Pune, Maharashtra.
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.
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