Kalpataru IPO Opens June 24 With Rs 1,590 Crore Fresh Issue, No OFS Involved In Realty Giant's Listing

Kalpataru IPO Opens June 24 With Rs 1,590 Crore Fresh Issue, No OFS Involved In Realty Giant's Listing Newspoint | 2025-06-24 11:39:15

Mumbai: Real estate leader Kalpataru Limited is opening its Initial Public Offering (IPO) on June 24, kicking off a busy week in the Indian IPO market. The IPO is a fresh issue worth Rs 1,590 crore, with no offer for sale (OFS). This means the company will receive all the money raised.

IPO Details: Price Band and Lot Size

The price band is set between Rs 387 and Rs 414 per share.

The minimum lot size for retail investors is 36 shares, which comes to Rs 14,904 at the upper price.

The IPO will be open from June 24 to June 26.

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IPO Timeline and Listing

Allotment of shares is expected on June 27.

Refunds (if any) and credit of shares to demat accounts will happen on June 30.

Listing on BSE and NSE is scheduled for July 1.

Use of IPO Funds

Kalpataru has a clear plan for the funds:

75 percent of the money (around Rs 1,192.5 crore) will be used to repay company and subsidiary loans.

The rest will be used for general corporate purposes, which may include business expansion, working capital, or new projects.

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Grey Market Premium (GMP) Buzz

Ahead of the IPO launch, Kalpataru shares are trading at a grey market premium (GMP) of Rs 9, suggesting a possible listing price of Rs 423—about 2.17 percent higher than the issue’s top price of Rs 414. However, this GMP can change depending on market demand.

About Kalpataru Limited

Founded in 1988, Kalpataru is a well-known name in Mumbai’s real estate market. It focuses on luxury and mid-income homes, commercial spaces, and integrated townships. Between 2019 and 2024, it ranked 5th in the MCGM region and 7th in Thane by number of units supplied.

Kalpataru Group Background

Kalpataru Limited is part of the Kalpataru Group, founded in 1969 by Mofatraj P. Munot. The group has global operations in 75+ countries, across sectors like power, oil & gas, railways, and infrastructure. Another group company, Kalpataru Projects International, is already listed on the stock exchanges.