Kalpataru IPO: Issue subscribed 0.35x on day 2; check category-wise status

According to the National Stock Exchange (NSE) data till 5 PM, the issue has received bids for 79,59,780 shares against the offered 2,282,6516 shares.

The portion reserved for the non-institutional investors (NIIs) category was subscribed to 0.45 times, while the retail individual investors (RIIs) category saw a subscription of 0.72 times. The portion reserved for qualified institutional buyers, or QIBs, saw subscription of 0.17 times.

The company raised ₹708 crore from nine anchor investors, including GIC, Bain Capital, SBI Mutual Fund (MF), 360 ONE Group, Aditya Birla Sun Life Insurance, ICICI Prudential MF, SBI General Insurance, Ayushmat Ltd, and Taurus MF.

Kalpataru Limited IPO aims to raise ₹1,590 crore through its public issue. The IPO is a fresh issue of over 3.84 crore shares with no offer for sale component.

The company has fixed the price band of the issue at ₹387 to ₹414 per share. The lot size, or the minimum bid quantity to apply for the issue, is 36 shares. This equates to a minimum investment amount of ₹14,904 per lot at the upper end of the price band for retail investors.

After the bidding is closed, the allotment of shares is expected to be finalised on Friday, June 27.

Kalpataru Limited has completed 120 projects totalling over 25.87 million square feet (msf) of developable area across multiple cities as of December 31, 2024. The company has 36 ongoing, forthcoming projects, comprising 48.97 msf of developable area, with 25 ongoing projects (24.83 msf), 6 forthcoming projects (16.33 msf), and 5 planned projects (7.81 msf). 

Mumbai-based Kalpataru develops residential, commercial, retail and integrated township projects. It is also engaged in the redevelopment of societies. As of December 31, 2024, March 31, 2024, March 31, 2023, and March 31, 2022, 94.84%, 94.93%, 94.93% and 95.00% of its real estate development projects were in and around the Mumbai Metropolitan Region (MMR) and Pune.