Kalpataru Sets IPO Price Band at Rs 387-414 per Share
Mumbai-based real estate firm Kalpataru Ltd has set the price band for its Rs 1,590 crore IPO at Rs 387-414 per share. The IPO opens on June 24 and closes on June 26, with funds earmarked for debt repayment and corporate purposes.
Kalpataru IpoReal Estate IpoMumbai Real EstateInitial Public OfferingDebt RepaymentReal Estate NewsJun 19, 2025
The IPO is entirely a fresh issue of 3.84 crore equity shares, with no offer-for-sale (OFS) component. All proceeds from the IPO will be used by Kalpataru for debt reduction and business expansion. The allotment is scheduled to be finalized on June 27, with a tentative listing date of July 1 on both the BSE and NSE.
As of June 19, the grey market premium (GMP) stood at Rs 0, indicating no immediate listing upside based on current sentiment. This suggests a 0% gain per share, signaling tepid speculative activity in the unofficial market ahead of the issue. However, institutional and anchor interest could still drive demand as the subscription window nears.
Retail investors can bid for a minimum of one lot comprising 36 shares, which requires an investment of Rs 13,932 at the floor price and Rs 14,904 at the cap price. Small non-institutional investor applicants must bid for at least 14 lots (504 shares) worth Rs 2,08,656, while big non-institutional investors need to apply for 68 lots (2,448 shares), amounting to Rs 10,13,472.
Kalpataru Limited, established in 1988, is a part of the larger Kalpataru Group and focuses on residential, commercial, and retail developments, including integrated townships. The company has delivered 70 projects and is currently working on 40 ongoing developments across cities such as Mumbai, Pune, Hyderabad, Bengaluru, and Indore. Kalpataru’s group ecosystem also includes infrastructure and logistics subsidiaries such as Kalpataru Projects International and Shree Shubham Logistics, offering synergies across the real estate value chain.
Financially, Kalpataru posted a profit after tax of Rs 5.51 crore for the nine months ended December 2024, recovering from a loss of Rs 116.51 crore in FY24 and Rs 229.43 crore in FY23. The company reported revenue of Rs 1,699 crore for the same period. Its borrowings stood at Rs 11,056 crore as of December 31, 2024, against total assets of Rs 15,562 crore.
According to the red herring prospectus, Kalpataru plans to utilize Rs 1,192.5 crore of the net proceeds toward the repayment or prepayment of borrowings at both the company and subsidiary levels. The remaining funds will be used for general corporate purposes.
ICICI Securities, JM Financial, and Nomura Financial Advisory and Securities (India) are the book running lead managers to the issue. MUFG Intime India Private Limited (Link Intime) is the registrar.
Frequently Asked Questions
What is the price band for Kalpataru's IPO?
The price band for Kalpataru's IPO is set at Rs 387 to Rs 414 per share.
When does Kalpataru's IPO open and close?
Kalpataru's IPO opens for subscription on June 24 and closes on June 26.
How much is Kalpataru aiming to raise through this IPO?
Kalpataru aims to raise Rs 1,590 crore through this IPO.
What will Kalpataru use the IPO proceeds for?
Kalpataru plans to use Rs 1,192.5 crore of the net proceeds toward the repayment or prepayment of borrowings and the remaining funds for general corporate purposes.
What is the minimum investment required for retail investors in Kalpataru's IPO?
Retail investors can bid for a minimum of one lot comprising 36 shares, which requires an investment of Rs 13,932 at the floor price and Rs 14,904 at the cap price.
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