IPO-bound Kalpataru Ltd's net loss narrows to Rs 101 cr in last fiscal
Real estate firm Kalpataru Ltd, which plans to launch its maiden public issue, has posted a consolidated net loss of Rs 100.74 crore during the last financial year on lower income. Its net loss stood at Rs 200.73 crore in the preceding 2022-23 fiscal.
Last week, Mumbai-based Kalpataru Ltd filed a preliminary document with capital markets regulator Sebi to launch its initial public offering (IPO) to raise up to Rs 1,590 crore, mainly to reduce debt.
The proposed IPO comprises of fresh issue of shares, having a face value of Rs 10 each, aggregating up to Rs 1,590 crore.
It would use Rs 1,192.5 crore for repayment/prepayment of its debt.
According to the Draft Red Herring Prospectus (DRHP) filed with Sebi, the company's total income also declined to Rs 2,029.93 crore in the last fiscal from Rs 3,716.61 crore in the 2022-23 financial year.
«We are an integrated real estate development company involved in all key activities associated with real estate development, including the identification and acquisition of land (or development rights thereto), planning, designing, execution, sales, and marketing of our projects,» the DRHP said.
The company has a portfolio of 40 ongoing, forthcoming and planned projects, comprising 49.77 million square feet of area. Of these, 25 projects having 22 million square feet are currently underway.
As of March 31, 2024, Kalpataru said that 95.49 per cent of the total developable area and 97.39 per cent of its total sales across its ongoing, forthcoming and planned projects are
