Kalpataru files DRHP for Rs 1,600 crore IPO. Check details
Kalpataru has filed its Draft Red Herring Prospectus (DRHP) with the market regulator, the Securities and Exchange Board of India to raise funds via the initial public offering (IPO) route.
The IPO will be a fresh issue of Rs 1,590 crore, with each share bearing a face value of Rs 10.
Other details like the price band, lot side, and reservation of the qualified institutional buyers (QIB), non-institutional investors (NII), and retail individual investors will be announced later.
The company intends to use the net proceeds from the issue towards the repayment/prepayment of certain outstanding borrowings as well as other general corporate purposes.
Kalpataru focuses on the development of luxury, premium, and mid-income residential, commercial, and retail projects, integrated townships, lifestyle gated communities and redevelopments. For their residential developments, the company builds and sells a wide range of properties including villas, duplexes, apartments, and plots of varying sizes, with a primary focus on luxury, premium, and mid-income residential real estate.
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As of March 31, 2024, Kalpataru’s ongoing projects comprised approximately 22.02 msf of Developable Area. Further, as of March 31, 2024, their forthcoming projects comprised approximately 19.93 msf of developable area, and are expected to launch across the Financial Years 2025, 2026, and 2027 in various phases. Kalpataru’s ongoing projects and the pipeline
