Kalpataru IPO Sees 35% Subscription by Day 2; Retail Bidding Gains Momentum Ahead of Closing

Mumbai, 25 June 2025: Kalpataru’s ₹1,590 crore initial public offering (IPO) witnessed a noticeable uptick in investor response on the second day of bidding, achieving a total subscription of 0.35 times or 35% by 4:51 PM, as per the latest exchange data. This reflects a significant rebound from Day 1, which saw only 8% of the issue subscribed.

Category-Wise Subscription Status (As of 25 June, 4:51 PM)

Qualified Institutional Buyers (QIBs)

• Shares Reserved: 1,22,02,326
• Shares Bid For: 20,72,592
• Subscription Rate: 0.17x
• Key Participant: Foreign Institutional Investors (FIIs) accounted for 20,63,484 shares

Non-Institutional Investors (NIIs)

• Shares Reserved: 61,01,162
• Shares Bid For: 27,08,208
• Subscription Rate: 0.44x
• Bids Above ₹10 Lakh: 22,00,104 (0.54x)
• Bids Between ₹2 Lakh and ₹10 Lakh: 5,08,104 (0.25x)

Retail Individual Investors (RIIs)

• Shares Reserved: 40,67,441
• Shares Bid For: 29,30,508
• Subscription Rate: 0.72x
• Cut-Off Bids: 25,13,484
• Price-Specific Bids: 4,17,024

Employees

• Shares Reserved: 4,55,587
• Shares Bid For: 1,70,244
• Subscription Rate: 0.37x

Overall Subscription

• Total Shares on Offer: 2,28,26,516
• Total Bids Received: 78,90,840
• Overall Subscription Rate: 0.35x
• Bids at Cut-Off Price: 26,48,448

Price Discovery: Bid Activity Concentrated Near Upper Band

The IPO price band is set between ₹387 and ₹414 per share. Bid activity was consistent across this spectrum, with a substantial volume of bids clustering near the upper limit. Over 33% of the total bids were placed at the cut-off price, suggesting increased traction from retail investors and employees.

IPO Set to Close Tomorrow

Kalpataru’s public issue will close on 26 June, with allotment finalised by 27 June. Shares are slated to be listed on the bourses on 1 July.

With participation picking up on Day 2, market observers will closely monitor institutional flows and last-minute retail interest on the final day of bidding.

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