Kalpataru: Real estate sector giant Kalpataru has decided to launch an IPO. The company wants to raise about Rs 1,600 crore through this IPO and use the money to advance its real estate projects rapidly. Kalpataru has submitted documents related to the IPO to the market regulator SEBI. The company prepares housing projects ranging from mid-segment and luxury to commercial. The company’s projects are spread over 41.95 million square feet.
100 Percent Fresh Issue, There Will Be No Offer For Sale
According to Kalpataru’s Draft Red Herring Prospectus (DRHP), the IPO will be worth Rs 1590 crore. The money from the IPO will be used to reduce debt and meet corporate needs. This IPO will be a 100 percent fresh issue. The company is not going to adopt the offer-for-sale path. Shares with a face value of Rs 10 will be launched in it. Further information will be given about the price band, lot size, reserve portion of QIB, NII, and retail investors.
The Company Comes At Number Four In Thane Area
Most of Kalpataru’s projects are known for their luxury and premium feel. In this financial year, the company is going to start the development of many new projects. Apart from this, they have prepared projects till 2027. The demand for their recent and upcoming projects is helping the company to make its place in the market. Kalpataru is considered the 5th most prominent real estate developer in the Mumbai Metropolitan Region regarding the supply of homes between 2019 and 2023. Apart from this, they come at number four in the Thane area.
Appointment of Book Running Lead Manager and Registrar
Kalpataru has appointed JM Financial, ICICI Securities, and Nomura Financial Advisory and Securities as the book-running lead managers for the IPO. At the same time, Link Intime India is the registrar of the offer. The company benefits from Kalpataru Group’s reputation and expertise in the construction and infrastructure sector.
