Kalpataru IPO: ₹1,590 crore issue opens on June 24; check price band, lot size, key dates and more

Kalpataru IPO: The ₹1,590 crore initial share sale of Mumbai-based real estate developer Kalpataru Ltd will launch on June 24. The issue will conclude on June 26. The price band has been set at ₹387 to ₹414 per share.

The initial public offering is exclusively a fresh issuance of shares without an offer for sale (OFS) component.

The company and its subsidiaries will use the raised capital to repay or pre-pay certain borrowings, according to the RHP. A portion will also be used for general corporate purposes.

Kalpataru IPO: Lot size

A lot consists of 36 shares, requiring an investment of ₹14,904 at the upper end of the price band.

The company has set aside 75% of the net issue for qualified institutional buyers, 10% for retail investors, and 15% for non-institutional investors.

Kalpataru IPO: Key dates

Kalpataru IPO allotment status is likely to be finalised on June 27. Refunds will be initiated for unsuccessful investors on June 30, while credit of shares to the Demat account of successful investors will occur on June 30.

The company's equity shares are expected to be listed on the NSE and the BSE on July 1.

About Kalpataru

Kalpataru Ltd, an integrated real estate development firm, is engaged in all key activities associated with real estate development from identification and acquisition of land to execution, sales, and marketing of projects. It is a key real estate developer in the Mumbai Metropolitan Region.

It focuses on the development of luxury, premium, mid-income residential, commercial, and retail projects, gated communities, integrated townships, and redevelopments.

For residential development, it builds and sells a wide range of villas, apartments, duplexes, and plots of varying sizes for various customer bases.

For commercial developments, the company adopts a model of developing, leasing and selling commercial units.

As of December 31, 2024, its ongoing projects comprised around 24.83 msf (million square feet) of developable area.

Its key projects include Kalpaturu Avana, Kalpaturu Pinnacle, Kalpaturu Aura, Kalpaturu Solitaire, Kalpaturu Residency, and Siddhachal, among others.