Kalpataru is going to open for subscription on June 24, 2025, and will close on June 26, 2025. The issue is entirely a fresh issue of 3.84 crore shares. The price band is set at Rs 387 to Rs 414 per share.
The allotment for the Kalpataru IPO is expected to be finalised on Friday, June 27, 2025. Kalpataru IPO will be listed on BSE, NSE, with a tentative listing date fixed as Tuesday, July 1, 2025. ICICI Securities, JM Financial, and Nomura are acting as the Book Running Lead Managers. LinkIntime is the registrar managing investor applications and allotment.
Overview of Kalpataru Limited
The company is part of Kalpataru Group – a reputed real estate and infrastructure conglomerate with a legacy of 55 years in road construction, EPC and Facility Management, among others, through group companies like Kalpataru Projects International.
The company focuses on the development of residential and commercial properties, retail, and integrated township projects in cities like Mumbai, Thane, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur. The company has 40 ongoing and 70 completed projects as of March 31, 2024.
GMP of Kalpataru Limited IPO
Shares of real estate developer Kalpataru Ltd traded at a grey market premium (GMP) of 2.17 percent or Rs 9 in the unlisted market ahead of the opening of its initial public offering (IPO) on Tuesday, June 24.
Promoters of Kalpataru Limited
The promoters are Mofatraj P. Munot and Parag M. Munot. They bring significant experience in civil engineering and infrastructure development. As of the latest filing, the promoters hold 48,877,500 Equity Shares, representing 35 percent of the issued, subscribed, and paid-up Equity Share capital of the Company.
Currently, the promoter holding in the company’s shareholding structure is 100%. After the IPO, the promoter will own only 81.3% after the dilution due to the new issue of shares to the public.
Objectives of the IPO Offer
Kalpataru aims to use the IPO proceeds for two main purposes. The company will allocate Rs. 1,192.5 Crore towards repayment or prepayment of borrowings at both the company and subsidiary levels. The remaining funds will be used for general corporate purposes.\
Financial Analysis of Kalpataru Limited
Kalpataru Limited’s revenue has decreased from Rs. 3,633.1 crore in FY23 to Rs. 1,930 crore in FY24, which represents a decline of 47 percent. Coming to its profitability, the company has reported a loss of Rs 226.78 crores in FY23 as compared to a loss of Rs 113.80 crores in FY24.
Its assets increased by 10.67 percent to Rs 13,879.43 crore in FY24 from Rs 12,540.77 crore in FY23. Total liabilities stand at Rs 12,879.12 crore in FY24 as compared to its previous year liabilities of Rs 11,333.73 crore.
Conclusion
Kalpataru Limited IPO offers investors a chance to invest in a growing EPC contractor. The IPO is a fresh issue, with experienced promoters and expansion plans. Investors should review financials, sector trends, and market conditions before investing.
Written by Satyajeet Mukherjee
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