Real estate developer Kalpataru has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for a ₹1,600 crore initial public offering (IPO). This IPO will consist of a fresh issue of shares, each with a face value of ₹10.
Details of the IPO:
- Size: ₹1,590 crore
- Share Face Value: ₹10
- Price Band, Lot Size, and Investor Reservations: To be announced later
Use of Proceeds:
- Repayment or prepayment of existing loans
- General corporate purposes
About Kalpataru
Kalpataru develops luxury, premium, and mid-income residential, commercial, and retail properties, including integrated townships and gated communities. They offer a range of properties such as villas, duplexes, and apartments.
Current and Future Projects:
- Ongoing Projects: 22.02 million square feet (msf)
- Upcoming Projects: 19.93 msf, expected to launch in phases from FY 2025 to 2027
Kalpataru is among the top developers in Maharashtra, with a strong reputation in the construction and infrastructure sector, thanks to its affiliation with the Kalpataru Group.
Lead Managers:
- JM Financial
- ICICI Securities
- Nomura Financial Advisory and Securities (India)
Registrar to the Offer:
- Link Intime India
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