Real estate player Kalpataru has announced the price band for its upcoming initial public offering (IPO), which is scheduled to open for public subscription from June 24 to June 26, 2025. The company has fixed the price range at Rs 387 to Rs 414 per equity share, and the anchor investor bidding will take place on June 23.
The IPO includes a fresh issue of shares worth Rs 1,590 crore, out of which Rs 1,193 crore will be utilised to repay outstanding debt. As of April 2025, Kalpataru’s total debt stood at Rs 10,186.6 crore, and the issue proceeds are expected to help strengthen the balance sheet.
At the upper end of the price band, the company’s market cap is estimated to be around Rs 8,524 crore. The allotment is expected to be done by June 27 and listing of equity shares on the exchanges is on July 1.
Kalpataru is a Mumbai based real estate company with presence in Mumbai Metropolitan Region (MMR). It competes with other leading listed developers like Oberoi Realty, Godrej Properties, Lodha Developers, Keystone Realtors, Prestige Estates, Sunteck Realty and Mahindra Lifespace.
As of December 2024, the company has delivered over 120 real estate projects, covering 25.87 million sq ft of developable area across Maharashtra, Telangana, Madhya Pradesh, Karnataka and Rajasthan.
ICICI Securities, JM Financial and Nomura Financial Advisory and Securities (India) are the book running lead managers for Kalpataru IPO.
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Source: Moneycontrol
News Desk
