Kalpataru IPO ends with 2.26x subscription

The initial public offer of Kalpataru received bids for 5,15,74,176 shares as against 2,28,26,516 shares on offer. The issue was subscribed 2.26 times.

The issue opened for bidding on 24 June 2025 and it closed on 26 June 2025. The price band of the IPO is fixed between Rs 387 and 414 per share.

The offer comprises entirely of a fresh issue of equity shares aggregating up to Rs 1590 crore. Of the net proceeds from the fresh issue, the company proposes to repay/prepay in full or in part certain borrowings availed by the company amounting to Rs 333.258 crore and its subsidiaries amounting to Rs 859.242 crore, totaling Rs 1192.50 crore. And the balance is for general corporate purposes. As of April 30, 2025, the company had total borrowings of Rs 10186.622 crore.

Kalpataru, part of the Kalpataru Group, is a leading real estate developer focused on residential, commercial, and township projects. As of 31 December 2024, it had 48.97 msf of developable area across 485.38 acres, with a strong presence in MMR and Pune. Its unsold residential inventory stood at 6.46 msf, valued at Rs 8,248.61 crore.

Ahead of the IPO, Kalpataru on Monday, 23 June 2025, raised Rs 708.34 crore from anchor investors. The board allotted 1.71 crore shares at Rs 414 each to 16 anchor investors.

The firm reported a consolidated net profit of Rs 5.51 crore and total income of Rs 1,624.74 crore for the nine months ended on 31 December 2024.