Kalpataru Share Price: List Flat At Rs 414 On Market Debut; What Should Investors Do Now?
Kalpataru IPO debuted flat at Rs 414 on NSE and Rs 414.10 on BSE after a 2.26 times subscription.
Kalpataru IPO: Shares of Kalpataru IPO made a flat debut on Tuesday, July 01, after receiving a subscription of 2.26 times. Shares were listed flat at Rs 414 per share on the NSE and a premium of 0.02 per cent on the BSE at Rs 414.10 per share.
Post the listing, shares are up 3 per cent to trade at Rs 429 apiece on NSE.
The initial public offering (IPO) of real estate developer Kalpataru Ltd closed on June 26.
Investors put bids for 4,93,44,660 shares as against the 2,13,34,828 shares on offer. The retail and NII participation stood at 1.43 times and 1.40 times, respectively. Its qualified institutional buyer (QIB) category got a 3.12 times subscription.
Kalpataru IPO Lot Size & Price
Investors need to apply for a minimum of 36 shares or in multiple of that thereof.
The price band of the IPO was in the range of Rs 387 to Rs 414 per share.
Based on that, the minimum investment required to apply for the IPO is Rs 14,904.
Kalpataru Shares: Should You Invest?
Mahesh M. Ojha, Hensex Securities Pvt. Ltd. at AVP Research & Business Development, noted the company has a credible track record in the infrastructure and EPC space, with a diversified order book and international presence. However, concerns around execution timelines and sectoral headwinds may cap immediate enthusiasm on listing day. 'Investors may consider booking partial gains on listing, while those with a longer-term outlook may choose to hold, especially if they have confidence in the company's capacity to monetize its order book efficiently," he added.
The company's IPO is entirely a fresh issue of equity shares worth Rs 1,590 crore with no offer for sale (OFS) component. It proposes to utilise funds for the payment of debt and general corporate purposes.
Kalpataru Ltd raised Rs 708 crore from anchor investors a day ahead of the launch of its IPO for public subscription.
Retail Individual Investors (RIIs) part got subscribed 72 per cent, while the non-institutional investors category received 45 per cent subscription. The quota for Qualified Institutional Buyers (QIBs) fetched 17 per cent subscription.
About Kalpataru Ltd
Mumbai-based Kalpataru focuses on the development of residential, commercial, retail and integrated township projects. It is also in the redevelopment of societies.
Kalpataru is one of the leading real estate developers in the country with a significant presence in the Mumbai Metropolitan Region (MMR) in Maharashtra.
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