Kalpataru Limited, a real estate company based in Maharashtra, India, will launch its ₹1,590 crore IPO from June 24 to June 26, 2025. The IPO price band is set at ₹387–₹414 per share, with listing expected on July 1. Proceeds will be used to repay borrowings and for corporate purposes.
Kalpataru Limited, a prominent real estate developer based in Mumbai, Maharashtra, has announced the launch of its initial public offering (IPO), with a price band fixed between ₹387 and ₹414 per equity share. The IPO will open for subscription from June 24 to June 26, 2025, with an anchor investor allocation scheduled for June 23, 2025.
Kalpataru Limited, established in 1988, is a well-established firm engaged in developing residential and commercial properties, integrated townships, and retail spaces across Indian cities including Pune, Hyderabad, Bengaluru, Indore, and Jodhpur. It operates as part of the larger Kalpataru Group, which includes Kalpataru Projects International Limited, Property Solutions (India) Pvt Ltd, and Shree Shubham Logistics Ltd.
The company has successfully completed 70 projects and is managing 40 ongoing ones as of March 31, 2024.
The Kalpataru IPO comprises a fresh issue worth ₹1,590 crore with no Offer For Sale (OFS) component. The proceeds will be used for repaying or prepaying certain borrowings of the company and its subsidiaries, as well as for general corporate purposes.
In terms of investor allocation:
- 75% of the offer is reserved for Qualified Institutional Buyers (QIBs)
- 15% is allocated to Non-Institutional Investors (NIIs)
- 10% is for Retail Individual Investors
Additionally, a ₹38 discount per share will be provided to eligible employees applying under the employee reservation portion. The IPO lot size is 36 shares and in multiples thereafter.
The tentative date for finalizing the basis of allotment is June 27, 2025, with refunds and share credit expected by June 30, 2025. Kalpataru shares are set to be listed on the NSE and BSE on July 1, 2025.
Kalpataru’s listed peers include Oberoi Realty, Macrotech Developers, Godrej Properties, Sunteck Realty, Mahindra Lifespace Developers, Keystone Realtors, and Prestige Estates Projects. The issue will be managed by ICICI Securities Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Pvt Ltd. MUFG Intime India Pvt Ltd (Link Intime) is the registrar to the issue.