IPO-bound Kalpataru Sells Properties Worth ₹2,727 Cr in Apr-Dec FY25; ₹1,590 Cr IPO Opens June 24

New Delhi, June 20: Real estate developer Kalpataru Ltd, which is set to launch its ₹1,590-crore initial public offering (IPO) next week, reported property sales worth ₹2,727.24 crore during the April–December period of FY25, highlighting strong demand across its housing and commercial assets portfolio.

According to its updated red herring prospectus filed with SEBI, the company’s total sales for FY24 stood at ₹3,201.98 crore, with the prospectus updated through the third quarter of FY25.

IPO Details and Valuation

The Kalpataru IPO will open for public subscription on June 24 and close on June 26, with a price band of ₹387 to ₹414 per share. The offering is a fresh issue of equity shares, with no offer-for-sale (OFS) component. Proceeds will be used to repay debt and for general corporate purposes.

The anchor investor portion opens on June 23. At the upper end of the price band, Kalpataru Ltd is valued at approximately ₹8,500 crore.

Strong Project Pipeline

Kalpataru Ltd, headquartered in Mumbai, has a portfolio of nearly 50 million square feet, comprising:

• 25 million sq ft of ongoing projects
• 16 million sq ft of upcoming projects
• 8 million sq ft at the planning stage

Since inception, the company has delivered 75 projects totaling 16 million sq ft, with a strong presence in the Mumbai Metropolitan Region (MMR) and Pune, and additional projects in Hyderabad and Noida.

Leadership Commentary

Managing Director Parag M Munot expressed confidence in the IPO’s success, citing continued investor interest despite global economic uncertainties. He emphasized that India’s growth trajectory remains intact, fueling demand in the real estate sector.

Group Overview

Founded in 1969 by Mofatraj P Munot, the Kalpataru Group also operates in power transmission and distribution, oil & gas, railways, civil infrastructure, and logistics. Its EPC arm, Kalpataru Projects International Ltd, is already listed on NSE and BSE.

The IPO is set to bolster Kalpataru’s growth strategy while strengthening its financial position through targeted use of funds.

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