Kalpataru Limited IPO to Open on June 24; Price Band Set at ₹387-₹414 per Share
- BILKULONLINE
- By Rafat Quadri
Ahmedabad, June 20, 2025: Kalpataru Limited, one of the prominent real estate developers in the Mumbai Metropolitan Region (MMR), is gearing up to launch its much-anticipated Initial Public Offering (IPO) on Tuesday, June 24, 2025. The issue will remain open until Thursday, June 26, 2025.
Price Band and Offer Details
The company has announced a price band of ₹387 to ₹414 per equity share with a face value of ₹10 each. A special discount of ₹38 per share is being offered to eligible employees applying under the Employee Reservation Portion. The minimum bid lot is 36 equity shares and in multiples thereafter.
The IPO comprises a fresh issue aggregating up to ₹1,590 crore. Net proceeds from the issue will be used to repay or prepay certain borrowings of the company and its subsidiaries, and for general corporate purposes.
Investor Allocation and Listing Plans
- The offering follows the book-building process as per SEBI regulations. Allocation from the net issue is structured as:
- Not less than 75% for Qualified Institutional Buyers (QIBs), including anchor investors,
- Not more than 15% for Non-Institutional Investors (NIIs),
- Not more than 10% for Retail Individual Investors (RIIs),
- ₹15.9 crore worth of shares are reserved for eligible employees, subject to valid bids.
Anchor Investor Bidding will take place on June 23, 2025, a day before the IPO opens. Up to 60% of the QIB portion may be allocated to anchor investors, with one-third of that reserved for domestic mutual funds. All other investors must apply using the ASBA process. The equity shares are proposed to be listed on BSE and NSE.
Media Interaction in Ahmedabad
Ahead of the IPO, a high-level team from Kalpataru and its lead managers visited Ahmedabad on Friday to interact with the media and brief them on the offering. Parag Munot, Managing Director of Kalpataru Limited, was joined by Chandrashekhar Joglekar, CFO, Narendra Lodha, Executive Director, and Rajat Rawal of ICICI Securities Ltd, along with Anurag Sen, Vice President – Real Estate Advisory at JM Financial Ltd.
Leadership Speaks
“This IPO marks a transformative milestone in Kalpataru’s growth journey. The funds will strengthen our balance sheet and support our continued expansion in the premium housing and commercial spaces across India,” said Parag Munot, Managing Director, Kalpataru Limited.
Chandrashekhar Joglekar, CFO of Kalpataru, added, “We have been focused on prudent financial management, and this IPO will enable us to reduce debt and improve our operational flexibility.”
Representing one of the lead managers, Rajat Rawal, ICICI Securities Ltd, noted, “Investor confidence in India’s real estate sector remains strong, and Kalpataru’s robust portfolio and legacy make it an attractive proposition.”
Book Running Lead Managers
The Book Running Lead Managers (BRLMs) to the issue are ICICI Securities, JM Financial, and Nomura Financial Advisory and Securities (India) Pvt. Ltd.
Investors are advised to refer to the Red Herring Prospectus and the price band advertisement dated June 19, 2025, published in Financial Express, Jansatta, and Navshakti for further information.
Narendra Lodha, Executive Director at Kalpataru, highlighting the company’s distinctiveness:
“At Kalpataru, our strength lies in integrating commercial excellence with regional presence—we’re not just building structures, but creating sustained value, access, and confidence in every community we serve.”
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(Rafat Quadri can be contacted at editorbilkul@gmail.com)