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The Kalpataru IPO is scheduled to open for subscription on June 24, 2025, and will close on June 26, 2025. This IPO is a Book Build Issue, with the company aiming to raise approximately ₹1,590 crores through a fresh issue of ₹1,590 crores, along with an offer for sale (OFS) of equity shares having a face value of ₹10 each (exact OFS details yet to be announced).
The price band for the Kalpataru IPO is set between ₹387 to ₹414 per share. The quota allocation is as follows:
- Qualified Institutional Buyers (QIB): 75%
- High Net-worth Individuals (HNI): 15%
- Retail Investors: 10%
The IPO allotment is expected to be finalized on June 27, 2025, with listing scheduled for July 1, 2025 on both the BSE and NSE.
Financial Highlights:
- Revenue (FY 2024): ₹2,029.94 crores
- Revenue (FY 2023): ₹3,716.61 crores
- Net Loss (FY 2024): ₹113.81 crores
- Net Loss (FY 2023): ₹226.79 crores
Despite posting losses in the last two fiscal years, the company has significantly reduced its losses in FY 2024. Based on current financial trends, analysts suggest that Kalpataru IPO may be more suitable for long-term investors.
Kalpataru IPO Details
- IPO Open Date: June 24, 2025
- IPO Close Date: June 26, 2025
- Face Value: ₹10 per equity share
- Price Band: ₹387 to ₹414 per share
- Total Issue Size: Approximately ₹1,590 crores
- Fresh Issue: Around ₹1,590 crores
- Issue Type: Book Build Issue
- Listing Exchange: BSE and NSE
- Retail Quota: Not more than 10%
- Qualified Institutional Buyers (QIB) Quota: Not more than 75%
- Non-Institutional Investors (NII) Quota: Not more than 15%
- DRHP Draft Prospectus: Click Here
- RHP Draft Prospectus: Click Here
Kalpataru IPO Market Lot and Application Details
The minimum market lot for the Kalpataru IPO is 36 shares, which requires an application amount of ₹14,904. Retail investors can apply for up to 13 lots, totaling 468 shares and ₹1,93,752. Below are the application details:
| Application Type | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 36 | ₹14,904 |
| Retail Maximum | 13 | 468 | ₹1,93,752 |
| S-HNI Minimum | 14 | 504 | ₹2,08,656 |
| B-HNI Minimum | 68 | 2,448 | ₹10,13,472 |
Kalpataru IPO Important Dates
- IPO Open Date: June 24, 2025
- IPO Close Date: June 26, 2025
- Basis of Allotment: June 27, 2025
- Refunds Initiation: June 30, 2025
- Credit to Demat Account: June 30, 2025
- IPO Listing Date: July 1, 2025
Promoters of Kalpataru IPO
The promoters of Kalpataru Limited are Mofatraj P. Munot and Parag M. Munot.
About Kalpataru Limited
Kalpataru Limited, founded in 1988 and headquartered in Mumbai, is a leading real estate development company. The company is involved in the end-to-end real estate process, including land acquisition, project planning, construction, sales, and marketing.
Kalpataru operates across several cities including Mumbai, Thane, Panvel, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur. The group also includes well-known entities like Kalpataru Projects International Limited, Property Solutions (India) Private Limited, and Shree Shubham Logistics Limited.
As of March 31, 2024, the company had:
- 40 ongoing projects
- 70 completed projects
- A global workforce with 27,000+ employees in 73 countries
Kalpataru IPO Financial Performance
| Period Ended | Revenue (₹ Cr) | Expense (₹ Cr) | Profit/Loss After Tax (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| FY 2022 | ₹1,248.55 | ₹1,387.59 | ₹121.55 (Loss) | ₹13,410.57 |
| FY 2023 | ₹3,716.61 | ₹3,874.52 | ₹226.79 (Loss) | ₹12,540.77 |
| FY 2024 | ₹2,029.94 | ₹2,125.28 | ₹113.81 (Loss) | ₹13,879.43 |
Kalpataru IPO Valuation Metrics – FY2024
| KPI | Value |
|---|---|
| ROE (Return on Equity) | -% |
| ROCE | -% |
| EBITDA Margin | (4.04)% |
| PAT Margin | -% |
| Debt to Equity Ratio | NA |
| Earnings Per Share (EPS) | ₹(7.21) |
| Price/Earnings (P/E) Ratio | N/A |
| Return on Net Worth (RoNW) | (9.80)% |
| Net Asset Value (NAV) | ₹73.63 |
Peer Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income (₹ Cr) |
|---|---|---|---|---|---|
| Oberoi Realty Ltd. | 52.99 | 13.92 | 52.99% | 380.76 | 4,495.79 |
| Macrotech Developers Ltd. | 16.03 | 8.87 | 15.99% | 175.66 | 10,316.10 |
| Godrej Properties Ltd. | 26.09 | 7.26 | 26.08% | 359.39 | 3,035.62 |
| Sunteck Realty Ltd. | 4.99 | 2.27 | 4.99% | 213.28 | 564.85 |
| Mahindra Lifespace Developers Ltd. | 6.34 | 5.25 | 6.33% | 120.82 | 212.09 |
| Keystone Realtors Ltd. | 9.85 | 6.24 | 9.82% | 157.85 | 2,222.25 |
| Prestige Estates Projects Ltd. | 34.28 | 12.17 | 34.28% | 281.59 | 7,877.10 |
Objects of the Issue
- Repayment or pre-payment, in full or part, of borrowings availed by the company and its subsidiaries
- General corporate purposes
Kalpataru IPO FAQs
What is Kalpataru IPO?
Kalpataru IPO is a Mainboard Initial Public Offering (IPO) through which the company plans to raise ₹1,590 crores. The price band for the issue is set between ₹387 to ₹414 per equity share. The IPO will be listed on both BSE and NSE.
When will the Kalpataru IPO open for subscription?
The Kalpataru IPO will open for public subscription on June 24, 2025, and will close on June 26, 2025. It is open to Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Investors.
What is the investor quota for Kalpataru IPO?
The IPO allocation is divided as follows:
- QIBs (Qualified Institutional Buyers): 75%
- NIIs (High Net-worth Individuals): 15%
- Retail Investors: 10%
How to Apply for Kalpataru IPO?
You can apply for the Kalpataru IPO using the following methods:
- ASBA (Application Supported by Blocked Amount) through your bank’s internet banking service.
- UPI-based ASBA via your stock broker’s platform.
- Offline application by submitting a filled IPO form through your broker.
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