Kalpataru IPO Opens Today at ₹387–414 Band, Secures ₹708 Crore from Anchor Investors

Mumbai, June 24, 2025: Kalpataru Limited, a prominent real estate developer primarily active in Maharashtra’s Mumbai Metropolitan Region (MMR), has launched its Initial Public Offering (IPO) today. The price for the shares has been set between ₹387 and ₹414 per equity share.

IPO Details and Subscription Window

The Kalpataru IPO is a completely fresh issue aimed at raising ₹1,590 crore. The subscription window will be open from June 24 to June 26, 2025. Investors can place bids in lots of 36 equity shares and in multiples thereafter.

The IPO will follow the book-building process, with specific allocations for different investor categories:

• At least 75% of the issue is reserved for Qualified Institutional Buyers (QIBs).
• Up to 15% will be available for Non-Institutional Investors (NIIs).
• The remaining 10% is for retail investors.

Additionally, eligible employees will receive a special discount of ₹38 per share on a reserved portion worth ₹15.90 crore.

Anchor Investment Ahead of Launch

Before the public launch, on June 23, Kalpataru successfully raised ₹708 crore from nine notable anchor investors. The company allotted 1,71,09,783 equity shares at ₹414 apiece to these investors.

Notable participants included:

• GIC (Singapore)
• Bain Capital
• SBI Mutual Fund
• ICICI Prudential Mutual Fund
• SBI General Insurance
• Aditya Birla Sun Life Insurance
• 360 ONE WAM

Utilisation of Proceeds

The funds raised from the IPO are primarily intended for two main purposes:

• The repayment or pre-payment of certain borrowings by the company and its subsidiaries.
• For general corporate purposes, which support the company’s overall operations and growth initiatives.

Company Overview and Listing Details

Established in 1988, Kalpataru Limited has built a reputation for developing a range of residential and commercial properties, including luxury, premium, and mid-income segments. Its portfolio includes integrated townships, gated communities, and urban redevelopment projects across India. The company is part of the larger Kalpataru Group, which also has interests in the construction and infrastructure sectors.

The IPO is managed by ICICI Securities, JM Financial, and Nomura Financial, with plans to list on both the NSE and BSE.

What’s Ahead For Kalpataru?

Kalpataru’s IPO, opening at a ₹387–414 price band, reflects strong investor confidence, especially after securing ₹708 crore from top anchor investors, including GIC and Bain Capital. The fresh issue of ₹1,590 crore aims to reduce debt and fund future growth. With a strong presence in MMR and a robust real estate portfolio, the IPO is likely to attract interest from long-term investors. Listing gains will depend on market sentiment and the outlook for the real estate sector.

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