Kalpataru IPO IPO
Kalpataru IPO is a fully book-built issue with a total IPO size of ₹1,590 crores. The entire offering is a fresh issue, with no offer-for-sale component, aimed at funding debt repayment, infrastructure growth, and general corporate purposes.
The Kalpataru IPO opens for subscription from June 24, 2025 to June 26, 2025. The allotment will be finalized by June 27, 2025, and listing on the BSE and NSE is expected on July 1, 2025.
Although the price band has not been disclosed yet, investor interest is high due to Kalpataru’s strong project pipeline. Retail investors, QIBs, and HNIs will be allocated shares based on standard SME quota norms.
The IPO registrar is Link Intime India Private Limited, and the lead managers include ICICI Securities Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Private Limited.
Explore more upcoming IPOs in India for comparison and investment planning.
IPO Schedule
| IPO Open Date | Tuesday, 24 Jun, 2025 |
|---|---|
| IPO Close Date | Thursday, 26 Jun, 2025 |
| IPO Allotment Date | Friday, 27 Jun, 2025 |
| Refund Initiation | Monday, 30 Jun, 2025 |
| Share credit in Demat | Monday, 30 Jun, 2025 |
| Listing Date | Tuesday, 01 Jul, 2025 |
Key Details
| Price Band | ₹387 to ₹414 Per Share |
|---|---|
| Lot Size | 36 Shares |
| Face Value | ₹10 Per Equity Share |
| Total Issue Size | ₹1,590.00 Crores |
| Fresh Issue | ₹1,590.00 Crores |
| Issue Type | Fresh Issue |
| Listing At | BSE, NSE |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 75% |
| Retail | 10% |
| NII/HNI | 15% |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 36 | 14,904 |
| Retail (Max) | 13 | 468 | 193,752 |
| S-HNI (Min) | 14 | 504 | 208,656 |
| S-HNI (Max) | 67 | 2412 | 998,568 |
About Kalpataru Limited Company
Kalpataru Limited: Overview
Kalpataru Limited is an integrated real estate development company involved in all key activities associated with real estate development, including the identification and acquisition of land (or development rights thereto), planning, designing, execution, sales, and marketing of our projects. They are a prominent real estate developer in the Mumbai Metropolitan Region (“ MMR ”) in Maharashtra and are present across all micro -markets in the MMR. Led by experienced Promoters, Mr. Mofatraj P. Munot and Mr. Parag M. Munot, Kalpataru is part of the Kalpataru Group, established in 1969. The Kalpataru Group has a legacy of 55 years. The Kalpataru Group has a multi -national presence and has operations in EPC contracting for power transmission and distribution, oil and gas, railways, civil infrastructure projects, warehousing and l ogistics, and facility management. Further, Kalpataru Projects International Limited is listed on the NSE and BSE.
As of March 31, 2024, Kalpataru (along with Promoters) had 113 completed projects, totaling over 24.10 msf of Developable Area within Mumbai, Thane, Panvel and Pune in Maharashtra, and Hyderabad, Indore, Bengaluru, and Jodhpur in the states of Telangana, Madhya Pradesh, Karna taka and Rajasthan, respectively. They focus on luxury, premium, and mid-income residential, commercial, and retail projects, including integrated townships and redevelopments.
The company adopts various development models, including freehold acquisitions, leaseholds, redevelopment projects, joint development agreements (JDAs), and joint ventures (JVs). As of March 31, 2024, Kalpataru Ongoing Projects comprised approximately 22.02 msf of Developable Area. Further, as of March 31, 2024, their Forthcoming Projects comprised approximately 19.93 msf of Developable Area, and are expected to launch across the Financial Years 2025, 2026 and 2027 in various phases. As of March 31, 2024, they also had Land Reserves of 1,886.10 acres.
Kalpataru leverages a research-based approach in project design, focusing on layout planning, FSI utilization, unit size, and amenities. They maintain an integrated real estate development model with in-house resources for all key activities, ensuring quality projects within committed timelines.
Kalpataru Limited Financial Details
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Assets | 13879.43 | 12540.77 | 13410.57 |
| Revenue | 2,029.94 | 3,716.61 | 1,248.55 |
| Profit After Tax | -113.81 | -226.79 | -121.55 |
| Net Worth | 1,028.23 | 1,221.89 | 1,429.01 |
| Reserves and Surplus | 888.58 | 1082.24 | 1289.36 |
| Total Borrowing | 10688.31 | 9679.64 | 10365.97 |
₹ In Crore
Key Performance Indicator
| (7.21) | (9.80) | 73.63 | NA | NA | NA |
Offer Objectives
The document outlines details regarding allotment/transfer of equity shares and proposes utilization of net proceeds from an upcoming issue. Key highlights include:
Equity Share Transactions:
Historical data on equity share allotments/transfers for both Sharad M. Munot's estate and Parag M. Munot are detailed. This includes dates, transaction types (e.g., transmission, rights issue, transfers), number of shares, face value (₹10 per share after stock split), issue/transfer price, and percentage of pre/post-issue equity share capital.
Notably, 40 Million CCDs was issued to Parag M. Munot, convertible to Equity Shares before filing the updated Draft Red Herring Prospectus with SEBI.
Promoter Contribution and Lock-in:
As per SEBI regulations, 20% of the post-issue equity share capital held by promoters will be locked in for 18 months from the date of allotment. Any promoter shareholding exceeding 20% will be locked in for six months. Promoters have consented to this arrangement, refraining from disposing of or encumbering the shares during the lock-in period. The equity shares offered for promoter's contribution adheres to SEBI's lockin guidelines.
Issue Objectives and Net Proceeds Utilization:
The company plans to issue shares to raise up to ₹159 Crore. The primary objectives are: (1) repayment/prepayment of certain borrowings availed by the company and its subsidiaries (₹119.25 Crore proposed); and (2) general corporate purposes, not exceeding 25% of gross proceeds.
Implementation Schedule:
The company intends to deploy the net proceeds towards the stated objectives during Fiscal Year 2025.
Other Important Points:
The document also addresses potential risks related to untraceable corporate records and emphasizes compliance with SEBI ICDR Regulations concerning lock-in periods, means of finance, and restrictions on promoter participation.
Company Details
Address:
91, Kalpataru Synergy, opposite Grand Hyatt, Santacruz (East), Mumbai 400 055, Maharashtra, India
Phone: +91 22 3064 5000
Email: [email protected]
Website: http://www.kalpataru.com
IPO Registrar Details
Link Intime India Private Limited
Phone: +91 22 4918 6200
Email: [email protected]
Website: http://www.linkintime.co.in
Offer Prospectus & Documents
Lead Managers
- ICICI Securities Limited
- JM Financial Limited
- Nomura Financial Advisory and Securities (India) Private Limited
