Kalpataru Limited, one of the prominent real estate developers in the Mumbai Metropolitan Region of Maharashtra (MMR) and present across all its micro-markets in MMR, will open its initial public offering on Tuesday at a price band of ₹387-414

 Bids can be made for a minimum of 36 Equity Shares and multiples of 36 Equity Shares thereafter.  The company plans to raise ₹1,590 crore through the IPO, which is entirely an fresh issue.

The Anchor Investor Bidding Date is one Working Day prior to Bid/Issue Opening Date, that is, Monday, June 23, 2025. The Bid/ Issue Closing Date will be on Thursday, June 26, 2025.

The Company proposes to utilize the net proceeds from the Issue towards repayment/pre-payment, in full or part, of certain borrowings availed by the Company and the subsidiaries; and general corporate purposes.

The Issue is being made through the Book Building Process, wherein not less than 75% of the Net Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, not more than 15% to Non-Institutional Investors and 10 per cent to retail investors. A discount of ₹ 38 per Equity Share is being offered to Eligible Employees Bidding in the Employee Reservation Portion (₹15.90 crore worth shares).

A day prior to its ₹1590 crore IPO, Mumbai-based real-estate developer Kalpataru Ltd has raised Rs 708 crore from nine marquee international and domestic anchor investors.

The IPO committee of the company in their meeting held on Monday finalised allocation of ₹171,09,783 equity shares to anchor investors at ₹414 a share. Nine anchor investors were allotted these shares. GIC, a global long term investor managing Singapore’s foreign reserves, and Bain Capital, a global private investment firm, took up a bulk of the anchor investor portion. Domestic and anchor investor lists includes SBI Mutual Fund, ICICI Prudential Mutual Fund, SBI General Insurance, Aditya Birla Sun Life Insurance, and 360 ONE WAM among others. 

The Company proposes to utilize the net proceeds from the Issue towards repayment/pre-payment, in full or part, of certain borrowings availed by the Company and the subsidiaries; and general corporate purposes.

ICICI Securities Limited, JM Financial Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers (BRLMs) to the Issue and the shares will be listed on the NSE and the BSE.

Kalpataru Ltd., founded in 1988, mainly focuses on development of luxury, premium and mid-income residential, commercial and retail projects, integrated townships, lifestyle gated communities, and redevelopments across Indian cities. Kalpataru Ltd. is a part of the Kalpataru Group, which includes companies across the construction and infra sector.

Published on June 24, 2025