Kalpataru IPO: Does it have any quota reserved for Kalpataru Projects International shareholders?

Kalpataru IPO: Real estate developer Kalpataru's initial public offering has opened to a weak response from investors, with the issue being subscribed 7% until 3:10 pm.

The initial public offering has secured bids for 16,33,356 shares compared to 2,28,26,516 shares reserved. Retail investors have booked their portion 28%, while the non-institutional investor category has been subscribed 7%.

The capital raised will be utilised for debt clearance and corporate general purposes.

Kalpataru IPO: Is there any reservation for Kalpataru Projects International shareholders?

Both the companies are part of Kalpataru Group, which has more than 29,000 employees globally as of December 2024, according to the red herring prospectus.

However, Kalpataru has reserved 4,55,587 shares for its employees at a discount of ₹38 per share (price band in the range of ₹349 to ₹376).

Kalpataru IPO: Key dates

The basis of allotment of Kalpataru Ltd will be finalised on June 27, while the listing on the NSE and the BSE will occur on July 1.

ICICI Securities, Nomura Financial Advisory and Securities (India) and JM Financial are the public offer's book running lead managers, while MUFG Intime India (Link Intime) is the registrar for the issue.

Before the IPO, the company collected ₹708 crore in the anchor round from investors including Bain Capital, GIC, SBI Mutual Fund (MF), ICICI Prudential MF, Taurus MF, Aditya Birla Sun Life Insurance, SBI General Insurance, Ayushmat and 360 ONE Group.

Kalpataru is a prominent real estate developer in Mumbai. For the nine-month period ended December 2024, the company sold properties worth ₹2,727.24 crore.

It sold properties valued at ₹3,201.98 crore in FY 2023-24.