Kalpataru's Rs 1,590-Crore IPO Set to Open on June 24: What You Need to Know
Mumbai-based real estate developer Kalpataru is all set to launch its Rs 1,590-crore initial public offering (IPO) on June 24, with the offer closing on June 26.
Kalpataru IpoReal Estate DeveloperMumbaiIpoDebt ReductionReal Estate MumbaiJun 18, 2025
The anchor book will be launched for institutional investors on June 23. The company will finalise IPO share allotment by June 27, while the trading in its equity shares will commence on the bourses effective July 1.
The IPO comprises entirely of fresh issue, which means the offer money will be received by the company. Kalpataru will use the proceeds to reduce its debt and that of its subsidiaries by Rs 1,192.5 crore, out of a total debt of Rs 10,186.6 crore as of April 2025. The remaining funds will be utilised for general corporate purposes.
Kalpataru is a prominent player in the real estate sector, particularly in the Mumbai Metropolitan Region, and competes with listed entities like Oberoi Realty, Lodha Developers, Godrej Properties, Keystone Realtors, Prestige Estates Projects, Sunteck Realty, and Mahindra Lifespace Developers. As of December 2024, the company had completed 120 projects with more than 25.87 million square feet of developable area in Maharashtra, Telangana, Madhya Pradesh, Karnataka, and Rajasthan.
ICICI Securities, JM Financial, and Nomura Financial Advisory and Securities (India) are acting as the book running lead managers to the Kalpataru IPO. This move is expected to strengthen Kalpataru's financial position and enhance its market presence.
Kalpataru's IPO is a significant step for the company, reflecting its commitment to reducing financial leverage and expanding its operations. The IPO is poised to attract a wide range of investors, from institutional to retail, looking to invest in a well-established real estate developer with a strong track record in the industry.
Frequently Asked Questions
What is the total size of Kalpataru's IPO?
Kalpataru's IPO is sized at Rs 1,590 crore.
When will the IPO open and close for subscription?
The IPO will open on June 24 and close on June 26, 2025.
How will Kalpataru use the proceeds from the IPO?
The proceeds will be used to reduce the company's and its subsidiaries' debt by Rs 1,192.5 crore and for general corporate purposes.
Who are the book running lead managers for the IPO?
The book running lead managers for the IPO are ICICI Securities, JM Financial, and Nomura Financial Advisory and Securities (India).
What is Kalpataru's market presence in the real estate sector?
Kalpataru is a prominent real estate developer in the Mumbai Metropolitan Region and competes with established players like Oberoi Realty, Lodha Developers, and Godrej Properties.
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