Kalpataru IPO opens tomorrow: GMP, issue details, 10 key things to know
Kalpataru IPO opens for subscription on tomorrow (Tuesday, June 24). Kalpataru Ltd is a comprehensive real estate development company engaged in all major activities related to real estate, such as land acquisition (or development rights), planning, design, execution, sales, and marketing of their projects.
The company stands out as a leading real estate developer in the Mumbai Metropolitan Region (MMR) of Maharashtra and operates across all micro-markets within the MMR, as reported by Anarock.
As of December 31, 2024, the company, along with its promoters, completed a total of 120 projects, encompassing over 25.87 million square feet of developable area in Mumbai, Thane, Panvel, and Pune in Maharashtra, as well as Hyderabad, Indore, Bengaluru, and Jodhpur in the states of Telangana, Madhya Pradesh, Karnataka, and Rajasthan, respectively.
The real estate firm is led by promoters, Mr. Mofatraj P. Munot and Mr. Parag M. Munot.
Mumbai-based Kalpataru recorded property sales totaling ₹ 2,727.24 crore between April and December of the previous fiscal year, driven by robust demand for residential and commercial properties. In the 2023-24 fiscal year, the company achieved property sales of ₹ 3,201.98 crore, according to its recently updated red herring prospectus (RHP) submitted to SEBI.
The company's listed peers are Oberoi Realty Ltd (with a P/E of 35.91), Macrotech Developers Ltd (with a P/E of 90.84), Godrej Properties Ltd (with a P/E of 92.10), Sunteck Realty Ltd (with a P/E of 89.64), Mahindra Lifespace Developers Ltd (with a P/E of 56.71), Keystone Realtors Ltd (with a P/E of 56.97), and Prestige Estates Projects Ltd (with a P/E of 48.31).
Kalpataru IPO date: The issue opens for subscription on Tuesday, June 24 and closes on Thursday, June 26.
Kalpataru IPO price band: The issue's price band has been fixed in the range of ₹ 387 to ₹ 414 per equity share of face value of ₹ 10.
Kalpataru IPO lot size: The issue's lot size is 36 equity shares and in multiples of 36 equity shares thereafter.
Anchor investors: The allocation to anchor investors for Kalpataru IPO is scheduled to take place today (Tuesday, June 24).
Kalpataru IPO details: The issue comprises an equity shares worth ₹ 1,590 crore. There is no offer for sale (OFS) component.
Kalpataru IPO objective: The firm plans to utilise the net proceeds from the issuance for various objectives, such as paying off or prepaying, either fully or partially, certain loans taken by the company and its subsidiaries, in addition to addressing general corporate requirements.
Kalpataru IPO listing date and allotment details: The basis for the allotment of shares for the Kalpataru IPO is expected to be finalised on Friday, June 27. The company will begin processing refunds on Monday, June 30, and shares will be credited to the demat accounts of allottees on that same day after the refunds. The listing price for Kalpataru shares is anticipated to be available on the BSE and NSE on Tuesday, July 1.
Lead Manager and Registrar of Kalpataru IPO: ICICI Securities Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Pvt Ltd are acting as the book running lead managers for the Kalpataru IPO, while MUFG Intime India Private Limited (Link Intime) is responsible for the registration of this issue.
Kalpataru IPO reservation: The company has allocated 75% of the shares in the public offering for qualified institutional buyers (QIB), with a 15% reserved for non-institutional investors (NII), and 10% set aside for retail investors. A discount of ₹ 38 per equity share is available for qualified employees participating in the employee reservation segment.
Kalpataru IPO GMP today: Kalpataru IPO GMP today or grey market premium is +9. This indicates Kalpataru share price were trading at a premium of ₹ 9 in the grey market on Monday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Kalpataru share price was indicated at ₹ 423 apiece, which is 2.17% higher than the IPO price of ₹ 414.
Based on the grey market activities from the last 11 sessions, the IPO's GMP is showing an upward trend today, indicating a solid listing ahead. The minimum GMP recorded is ₹ 0.00, while the maximum GMP is ₹ 11, as stated by experts from investorgain.com.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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