Latest news with #KalpataruLimited
Mint
01-07-2025
- Business
- Mint
Muted Debut! Kalpataru shares list at ₹414 on NSE, same as IPO price
Kalpataru IPO listing: Shares of Kalpataru made a muted debut on the bourses on Tuesday, July 1, listing at ₹ 414 on NSE, same as its issue price. Meanwhile, on BSE it listed at ₹ 414.10, up just 0.02 percent from its IPO price. The IPO, valued at ₹ 1,590 crore, was open for subscription from June 24 to June 26. Kalpataru's initial public offering (IPO) wrapped up with a healthy response, garnering a total subscription of 2.31 times over the three-day window. The issue received bids for 4.93 crore shares, significantly exceeding the 2.13 crore shares available. Interest was fairly balanced across categories—retail investors subscribed 1.43 times their allotted quota, and the non-institutional investor segment attracted 1.40 times bids. The qualified institutional buyer (QIB) portion witnessed the strongest demand, subscribed 3.12 times. In contrast, the employee reservation segment saw more muted participation, with bids reaching 0.76 times the shares on offer. The IPO comprises a fresh issue of 3.84 crore equity shares with no offer for sale (OFS) component. The minimum application size was 36 shares, implying a minimum investment of ₹ 14,904 from retail investors. The issue also included a reservation of up to 4,22,872 shares for employees offered at a discount of ₹ 38.00 to the issue price. The proceeds from the issue are intended to be utilised for repaying or prepaying borrowings, acquiring land and development rights, meeting general corporate requirements, and supporting the growth of the company's subsidiaries. ICICI Securities served as the book-running lead manager for the Kalpataru IPO, overseeing the issue's execution, while MUFG Intime India Private Limited, also known as Link Intime, was appointed as the registrar to manage share allotment and related investor services. Kalpataru Limited, established in 1988 and headquartered in Mumbai, Maharashtra, is a prominent real estate development firm known for its focus on residential and commercial projects, retail spaces, and integrated townships. Kalpataru Limited operates across multiple prominent cities in India, including Mumbai, Thane, Panvel, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur. It functions under the umbrella of the Kalpataru Group, which also encompasses entities like Kalpataru Projects International Limited, Property Solutions (India) Private Limited, Shree Shubham Logistics Limited, and their affiliated subsidiaries. As of March 31, 2024, the company had 40 active developments underway and had successfully delivered 70 completed projects. In FY24, the company recorded revenue of ₹ 1,930 crore and an adjusted EBITDA of ₹ 449 crore, but ended the year with a net loss of ₹ 113.8 crore. In comparison, revenue in FY23 was higher at ₹ 3,633 crore, driven by one-time land sales and contributions from subsidiaries, although the company still reported a net loss of ₹ 226.7 crore.
Mint
01-07-2025
- Business
- Mint
Muted Debut! Kalpataru shares list at ₹414 on NSE, same as IPO price
Kalpataru IPO listing: Shares of Kalpataru made a muted debut on the bourses on Tuesday, July 1, listing at ₹ 414 on NSE, same as its issue price. Meanwhile, on BSE it listed at ₹ 414.10, up just 0.02 percent from its IPO price. The IPO, valued at ₹ 1,590 crore, was open for subscription from June 24 to June 26. Kalpataru's initial public offering (IPO) wrapped up with a healthy response, garnering a total subscription of 2.31 times over the three-day window. The issue received bids for 4.93 crore shares, significantly exceeding the 2.13 crore shares available. Interest was fairly balanced across categories—retail investors subscribed 1.43 times their allotted quota, and the non-institutional investor segment attracted 1.40 times bids. The qualified institutional buyer (QIB) portion witnessed the strongest demand, subscribed 3.12 times. In contrast, the employee reservation segment saw more muted participation, with bids reaching 0.76 times the shares on offer. The IPO comprises a fresh issue of 3.84 crore equity shares with no offer for sale (OFS) component. The minimum application size was 36 shares, implying a minimum investment of ₹ 14,904 from retail investors. The issue also included a reservation of up to 4,22,872 shares for employees offered at a discount of ₹ 38.00 to the issue price. The proceeds from the issue are intended to be utilised for repaying or prepaying borrowings, acquiring land and development rights, meeting general corporate requirements, and supporting the growth of the company's subsidiaries. ICICI Securities served as the book-running lead manager for the Kalpataru IPO, overseeing the issue's execution, while MUFG Intime India Private Limited, also known as Link Intime, was appointed as the registrar to manage share allotment and related investor services. Kalpataru Limited, established in 1988 and headquartered in Mumbai, Maharashtra, is a prominent real estate development firm known for its focus on residential and commercial projects, retail spaces, and integrated townships. Kalpataru Limited operates across multiple prominent cities in India, including Mumbai, Thane, Panvel, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur. It functions under the umbrella of the Kalpataru Group, which also encompasses entities like Kalpataru Projects International Limited, Property Solutions (India) Private Limited, Shree Shubham Logistics Limited, and their affiliated subsidiaries. As of March 31, 2024, the company had 40 active developments underway and had successfully delivered 70 completed projects. In FY24, the company recorded revenue of ₹ 1,930 crore and an adjusted EBITDA of ₹ 449 crore, but ended the year with a net loss of ₹ 113.8 crore. In comparison, revenue in FY23 was higher at ₹ 3,633 crore, driven by one-time land sales and contributions from subsidiaries, although the company still reported a net loss of ₹ 226.7 crore. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Economic Times
27-06-2025
- Business
- Economic Times
Kalpataru IPO allotment expected today. Check status, GMP and other details
The allotment status for Kalpataru Limited's ₹1,590 crore IPO is expected to be finalized today. The IPO, priced between ₹387 and ₹414, saw strong institutional interest, raising ₹708 crore from anchor investors. Investors can check their allotment status online via Link Intime or the BSE website. Tired of too many ads? Remove Ads Here's how to check Kalpataru IPO allotment status: Tired of too many ads? Remove Ads On the BSE website: Tired of too many ads? Remove Ads Click 'Search' The allotment status for Kalpataru Limited 's Rs 1,590 crore IPO is expected to be finalised today, Friday, June 27, 2025. Investors who subscribed to the IPO between June 24 and June 26 can check their allotment status online once the registrar updates the IPO, consisting entirely of a fresh issue of 3.84 crore equity shares, was priced in the range of Rs 387 to Rs 414 per share. Based on the latest grey market premium (GMP) of Rs 3, the estimated listing price is Rs 417, translating to a modest gain of 0.72% per share on minimum investment by retail investors was Rs 14,904 for one lot of 36 shares. Kalpataru also offered a Rs 38 discount per share to eligible employees under its reserved quota of 4.22 lakh shares. The issue received strong interest from institutional investors, raising Rs 708 crore from anchor investors on June the registrar's website (Link Intime):Visit: Select 'Kalpataru Limited' from the dropdownEnter your PAN, Application Number, or DP/Client IDClick on 'Search' to view allotment detailsGo to: Select 'Equity' as issue typeChoose 'Kalpataru Limited' from the dropdownEnter your application number and PANShares allotted will be credited to demat accounts by June 30 and refunds for unallocated shares will be processed the same day. The stock is expected to list on BSE and NSE on July a prominent real estate developer, plans to use the IPO proceeds for repaying borrowings and general corporate purposes. Despite recent losses, its wide project base and backing by the Kalpataru Group have generated notable investor interest.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
27-06-2025
- Business
- Time of India
Kalpataru IPO allotment expected today. Check status, GMP and other details
The allotment status for Kalpataru Limited's ₹1,590 crore IPO is expected to be finalized today. The IPO, priced between ₹387 and ₹414, saw strong institutional interest, raising ₹708 crore from anchor investors. Investors can check their allotment status online via Link Intime or the BSE website. Tired of too many ads? Remove Ads Here's how to check Kalpataru IPO allotment status: Tired of too many ads? Remove Ads On the BSE website: Tired of too many ads? Remove Ads Click 'Search' The allotment status for Kalpataru Limited 's Rs 1,590 crore IPO is expected to be finalised today, Friday, June 27, 2025. Investors who subscribed to the IPO between June 24 and June 26 can check their allotment status online once the registrar updates the IPO, consisting entirely of a fresh issue of 3.84 crore equity shares, was priced in the range of Rs 387 to Rs 414 per share. Based on the latest grey market premium (GMP) of Rs 3, the estimated listing price is Rs 417, translating to a modest gain of 0.72% per share on minimum investment by retail investors was Rs 14,904 for one lot of 36 shares. Kalpataru also offered a Rs 38 discount per share to eligible employees under its reserved quota of 4.22 lakh shares. The issue received strong interest from institutional investors, raising Rs 708 crore from anchor investors on June the registrar's website (Link Intime):Visit: Select 'Kalpataru Limited' from the dropdownEnter your PAN, Application Number, or DP/Client IDClick on 'Search' to view allotment detailsGo to: Select 'Equity' as issue typeChoose 'Kalpataru Limited' from the dropdownEnter your application number and PANShares allotted will be credited to demat accounts by June 30 and refunds for unallocated shares will be processed the same day. The stock is expected to list on BSE and NSE on July a prominent real estate developer, plans to use the IPO proceeds for repaying borrowings and general corporate purposes. Despite recent losses, its wide project base and backing by the Kalpataru Group have generated notable investor interest.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
26-06-2025
- Business
- Mint
Kalpataru IPO day 3 Live: GMP, subscription status to review. Should you apply?
Kalpataru IPO: The initial public offering (IPO) of Kalpataru Limited hit the Indian primary market on Tuesday. The public issue will remain open until 26 June 2025. This means investors have just one day to apply for the public issue. The company has declared the Kalpataru IPO price band at ₹ 387 to ₹ 414 per equity share. The book build issue is proposed for listing on the BSE and the NSE. The initial public offer aims to raise 1,590 crore from this public issue by issuing fresh shares. Looking at the Kalpataru IPO subscription status, the public issue has received a tepid response in the first two days of bidding. According to market observers, company shares are available in the grey market well ahead of the IPO subscription opening. One share of Kalpataru Limited is available at a premium of ₹ 9 in the grey market today. As mentioned above, Kalpataru IPO Grey Market Premium (GMP) today is ₹ 9, which has been unchanged since the Kalpataru IPO subscription opening date. The market observers believe the grey market is signalling that investors may expect at least some premium on their investment, as the secondary market has been on an uptrend for the last two straight sessions. They predicted a substantial upside in the grey market sentiment if the positive sentiments on Dalal Street continue for the third consecutive session. After two days of bidding, the public issue had been booked 0.35 times, the retail portion had been filled 0.73 times, the NII portion of the book build issue had been subscribed 0.45 times, and the QIB segment had been booked 0.17 times. Infographic: Courtesy mintgenie On whether one should apply to the Kalpataru IPO, Marwadi Shares and Finance said, "Considering the FY24 EPS of ₹ 2.80 on a post-issue basis, the company is set to list at a P/E of approximately ~29.31x with a market cap of ₹ 2,416.22 Cr, whereas its peers namely APL Apollo Tubes Ltd, Hariom Pipes Industries Ltd, Hi-Tech Pipes Ltd, JTL Industries Ltd, Rama Steel Tubes Ltd and Surya Roshni Ltd are trading at P/E ratios of approximately ~65x, 20x, 28x, 29x, 84x and ~22x, respectively. We assign a "Subscribe" rating to this IPO as the company is well-positioned to take advantage of the growing demand for quality ERW steel pipes and tubes with its strong process innovation and execution capabilities. Also, it is available at a reasonable valuation compared to its peers." Bajaj Broking has also assigned a 'subscribe' tag to the book build issue: 'Kalpataru Limited is one of the leading real estate developers engaging in all key activities associated with realty developments. It posted a bumper top line for FY23 following a special land parcel deal arrived. The group enjoys a niche place as a realty developer in the MMR region. It issued equity shares worth Rs. 400 crore to promoters for Rs. 517.25 in March 2025. The company has turned the corner for 9M of FY25, and the management is confident of further improvements in its financial performance in coming years, considering the projects on hand. Though prima-facie the issue appears aggressively priced, well-informed investors may park funds for the long term.' Disclaimer: The views and recommendations made above are those of individual analysts or broking companies and not of Mint. We advise investors to check with certified experts before making any investment decisions.
