Kalpataru Ltd. Rs 1,590-crore initial public offering will be open for subscription on June 24 and close on June 26.
The IPO will include a fresh issue of share at a face value of Re 1 each and no offer-for-sale component. The company will utilise the funds raised for the repayment or pre-payment of certain borrowings availed by the company and for general corporate purposes.
ICICI Securities Ltd., JM Financial Ltd. and Nomura Financial Advisory and Securities (India) Pvt. are the book-running lead managers for the issue and Link Intime India Pvt. will be the registrar of the issue.
The company will decide the price band and the issue price for the equity shares after consulting with the book running lead managers "on the basis of assessment of market demand for the equity shares offered through the book."
Business
Kalpataru is a real estate development company engaged in all real estate, including land identification, acquisition, planning, design, execution, sales, and marketing, having their presence across all micro- markets in the areas.
As of March 31, 2024, the real estate developer along with their promoters, have completed 113 projects, covering over 24.10 million square feet of developable area in Mumbai, Thane, Panvel, and Pune in Maharashtra, as well as Hyderabad, Indore, Bengaluru, and Jodhpur across Telangana, Madhya Pradesh, Karnataka, and Rajasthan.
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