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Kalpataru Ltd has set its IPO price band at INR 387-INR 414 a share, aiming to raise INR 1,590 crore through a pure fresh issue-meaning every rupee goes straight into the company. Bidding opens for three days, following an anchor investor round, and values the developer at roughly INR 8,500 crore at the top end. Funds will primarily pare debt and cover general corporate needs. The offer allots 75 % to QIBs, 15 % to NIIs, and 10 % to retail, with a minimum lot of 36 shares. ICICI Securities, JM Financial, and Nomura lead the issue, which will list on both BSE and NSE.
Kalpataru Ltd, a real estate developer with strong roots in the Mumbai Metropolitan Region (MMR), has officially set the price band for its upcoming Initial Public Offering (IPO) in the range of INR 387 to INR 414 per equity share. The company is looking to raise INR 1,590 crore through this offering, which will be entirely a fresh issue of shares. Notably, there is no Offer For Sale (OFS) component in this IPO, indicating that the entire proceeds will be channelled directly into the company for strategic use. Advertisement
The public issue is scheduled to remain open for subscription over a three-day period. Ahead of this, bidding for anchor investors began a day earlier, as per regulatory norms. According to brokerage estimates, Kalpataru's valuation at the upper end of the price band is pegged at nearly INR 8,500 crore.
The funds raised through the IPO will be used primarily to reduce the company's outstanding debt and to support general corporate requirements. This capital infusion is expected to strengthen Kalpataru's financial profile and support future growth plans. The company has outlined a clear allocation strategy for the IPO 75% of the issue is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and the remaining 10% for retail investors. Potential investors can place bids starting with a lot size of 36 shares and in multiples thereof.
ICICI Securities Ltd, JM Financial Ltd, and Nomura Financial Advisory and Securities (India) Private Ltd have been appointed as the book running lead managers for the issue. The company has also announced that its shares are expected to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in the coming days.
Kalpataru Ltd has earned its reputation as a leading player in the MMR real estate market, with a presence across all major micro-markets in the region. Beyond MMR, the company is actively engaged in projects across Pune, Hyderabad, and Noida, expanding its footprint into key real estate hubs of Maharashtra, Telangana, and Uttar Pradesh. Its diversified portfolio includes luxury, premium, and mid-income residential developments, commercial and retail complexes, integrated townships, lifestyle gated communities, and redevelopment projects.
Source: PTI
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