Kalpataru Listing: Shares Debut Flat At Rs 414 On NSE
The initial public offering of Kalpataru Ltd. had been subscribed 2.26 times on its final day, with bids led by qualified institutional investors.
Shares of Kalpataru Ltd. were listed flat on the National Stock Exchange on Tuesday at Rs 414 apiece, same as its issue price. On BSE the stock debuted at Rs 414.10, up just 0.02% discount.
The IPO was open for subscription from June 24 to June 26.
The initial public offering of Kalpataru Ltd. has been subscribed 2.26 times on its final day, with bids led by qualified institutional investors. The IPO was subscribed 35% on its second day of bidding on Wednesday and 0.09 times or 9% on its first day of bidding on Tuesday.
The proposed IPO is entirely a fresh issue worth up to Rs 1,590 crore, with no offer-for-sale component. The face value of each share is Rs 10. Investors can bid for a minimum of 36 shares, and then in multiples thereof.
The GMP for the Kalpataru IPO was Rs 1.5 as of 7:58 a.m. on July 1, according to InvestorGain.
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Business And Financials
Kalpataru Ltd. is a Mumbai-based integrated real estate development company, engaged in all aspects of property development, including land acquisition, planning, design, execution, sales, and marketing.
It is part of the Kalpataru Group, which includes Kalpataru Projects International Ltd., Property Solutions (India) Pvt., Shree Shubham Logistics Ltd., and their subsidiaries. The company has completed 120 projects spanning 25.87 million square feet across cities including Mumbai, Thane, Panvel, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur.
Kalpataru is among the top five developers in the MCGM region and seventh largest in Thane, Maharashtra, based on units supplied between 2019 and 2024, according to an Anarock report.
The company reported revenue from operations of Rs 1,624.73 crore in the nine months ended December 2024, compared to Rs 1,929.98 crore in the previous financial year. Revenue in financial year 2023 stood at Rs 3,633.18 crore.
Net profit for the nine-month period stood at Rs 5.5 crore, compared to a loss of Rs 116.5 crore in financial year 2024 and Rs 229.43 crore in financial year 2023.
