Kalpataru IPO to open on June 24th 

Mumbai, 19 June 2025: Mumbai-based property developer Kalpataru has fixed the price band for its much-anticipated initial public offering (IPO) between ₹387 and ₹414 per equity share. The public subscription window will open on June 24, 2025, and will remain active until June 26, 2025. Ahead of the official opening, anchor investors can place their bids on June 23.

IPO Breakdown and Planned Use of Proceeds

The IPO will consist solely of a fresh issue totalling ₹1,590 crore. From this, a significant portion — ₹1,193 crore — is earmarked for repayment of outstanding borrowings. As of April 2025, Kalpataru’s overall debt burden amounted to ₹10,186.6 crore, underlining the firm’s efforts to reduce its leverage and improve financial stability.

If the shares are priced at the higher end of the band, the company’s estimated market capitalisation will reach approximately ₹8,524 crore.

Share Allotment and Market Debut Timeline

Investors can expect the share allotment process to conclude by June 27, while the company’s shares are scheduled to be listed on Indian stock exchanges on July 1.

Company Overview and Industry Standing

Kalpataru holds a prominent position in the Mumbai Metropolitan Region (MMR). As of December 2024, the company had successfully completed over 120 projects, covering a buildable area of 25.87 million square feet across five states: Maharashtra, Telangana, Madhya Pradesh, Karnataka, and Rajasthan.

The company operates in a highly competitive real estate segment, contending with listed rivals such as Oberoi Realty, Lodha Developers, Godrej Properties, Prestige Estates, Keystone Realtors, Sunteck Realty, and Mahindra Lifespace Developers.

Lead Managers Steering the IPO

The IPO is being managed by prominent investment banks, including ICICI Securities, JM Financial, and Nomura Financial Advisory and Securities (India), who have been appointed as the book running lead managers.

With its public offering, Kalpataru aims to significantly reduce its debt load and enhance its position in India’s thriving real estate sector, setting the stage for long-term growth and investor confidence.

Disclaimer:  At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations