Kalpataru IPO opens on June 24: Check price band, lot size, GMP, key dates

As investors await the subscription window for Kalpataru IPO to open, here are some key details from the Red Herring Prospectus (RHP)

Kalpataru IPO: The initial public offering (IPO) of real estate development company Kalpataru is scheduled to open for public subscription on Tuesday, June 24, 2025. Ahead of the opening, the bidding for anchor investors is scheduled to take place on June 23. Through this public offering, Kalpataru aims to raise ₹1,590 crore.

As investors await the subscription window for Kapataru IPO to open, here are some key details from the Red Herring Prospectus (RHP):

Kalpataru IPO issue structure

The public issue is a book-built issue comprising an entirely fresh issue of 38.4 million equity shares, aggregating up to ₹1,590 crore. Kalpataru IPO does not have any offer-for-sale (OFS) component.

 

Kalpataru has reserved not less than 75 per cent of the net offer for qualified institutional buyers (QIBs), not more than 10 per cent for retail investors, and not more than 15 per cent for non-institutional investors (NIIs).

Kalpataru IPO lot size, price band

Kalpataru IPO will be offered at a price band of ₹387–414 per share with a lot size of 36 shares. Accordingly, investors can bid for a minimum of 36 shares and in multiples thereof.

 

The minimum investment required by a retail investor is ₹14,904. A retail investor can bid for a maximum of 13 lots or 468 shares, amounting to ₹1,93,752.

Kalpataru IPO grey market premium (GMP) today

The unlisted shares of Kalpataru were trading flat at ₹414 per share in the grey market, revealed sources tracking unofficial market activities. Thus, the grey market premium (GMP) for Kalpataru IPO remains nil on Thursday, June 19.

Kalpataru IPO allotment date, listing date

The public offering will remain open for subscription until Thursday, June 26, 2025. The basis of allotment is likely to be finalised on Friday, June 27, 2025, with shares expected to be credited into demat accounts on Monday, June 30, 2025.

 

Shares of Kalpataru are scheduled to list on the BSE and NSE on Tuesday, July 1, 2025.

Kalpataru IPO objective

The company plans to utilise the net proceeds from the public offering for repayment/pre-payment, in full or in part, of certain borrowings availed by our Company and our Subsidiaries, as well as for general corporate purposes.

Kalpataru IPO registrar, lead manager

MUFG Intime India Private (formerly Link Intime India) is the registrar for the IPO, while ICICI Securities, JM Financial, and Nomura Financial Advisory and Securities (India) are the book-running lead managers.

About Kalpataru

Kalpataru, a part of the Kalpataru Group, 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 its projects. Kalpataru is a leading real estate developer in the Mumbai Metropolitan Region (MMR) in Maharashtra and is present across all micro-markets in the MMR (Source: 223 Anarock Report), according to its RHP.

Financial details

In FY24, the company's loss attributable to the owners of the parent narrowed to ₹103.44 crore from a loss of ₹203.37 crore reported in FY23. However, for the nine months ended December 31, 2024, the company reported a profit of ₹8.66 crore.

 

The company’s revenue dropped 46.9 per cent Year-on-Year (Y-o-Y) to ₹1,930 crore in FY24 from ₹3,633.2 crore in FY23. For the nine months ended December 31, 2024, revenue was ₹1,624.73 crore.

 

Total expenditure also fell to ₹2,125.27 crore in FY24, down 45.1 per cent from ₹3,874.5 crore in FY23. For the nine-month period ending December 31, 2024, it stood at ₹1,651.01 crore.