Kalpataru share price: Stock rises 4% after making flat debut on NSE

The stock listed at ₹414 per share at par with the issue price on the National Stock Exchange (NSE). At 11:34 am, the scrip rose 3.85% to ₹429.95 apiece.

On the BSE, it started trading at ₹414.10, reflecting a premium of 0.02% over the issue price.

Kalpataru share price: Here's how much investors made per lot

The funds raised are proposed to be utilised for debt payment and serve general corporate purposes.

The initial public offering fetched 2.26 times the subscription, with total bids for 5,15,74,140 shares compared to 2,28,26,516 shares on offer, as per the NSE data.

The category for qualified institutional buyers (QIBs) received 3.12 times the subscription, while the non-institutional investors booked their portion 1.31 times. The retail investors part secured 1.29 times subscription.

Before the IPO, Kalpataru Ltd had garnered ₹708 crore from anchor investors.

Mumbai-based Kalpataru is into the development of residential, retail, commercial, and integrated township projects. It is also involved in the redevelopment of societies.

Kalpataru is among key real estate developers in India with a notable presence in the Maharashtra's Mumbai Metropolitan Region (MMR).

Kapataru IPO GMP

The listing was in line with the grey market premium (GMP) trend, which had suggested a muted listing on the stock exchanges. The stock was trading higher by ₹2 in the grey market.