Kalpataru's ₹1,590-crore IPO opens for subscription
Kalpataru Limited is opening its IPO for subscription from June 24 to 26, 2025, aiming to raise ₹1,590 crore by offering shares priced between ₹387 and ₹414.
Big names like GIC Singapore and SBI Mutual Fund have already backed the issue with ₹708 crore.
Mumbai-based real estate developer
Kalpataru is a Mumbai-based real estate developer founded in 1969, known for luxury, premium, and mid-income homes as well as commercial spaces.
With more than 120 completed projects and ongoing ones covering 25 million sq ft, it clocked property sales of ₹2,727 crore between April and December 2024.
IPO details, GMP, and subscription status
Most of the IPO funds—₹1,193 crore—will go toward reducing Kalpataru's hefty debt of over ₹10,000 crore.
The company's estimated market cap post-IPO is around ₹8,524 crore.
Shares are expected to be allotted on June 27 and listed on July 1.
For those tracking short-term gains: the current gray market premium hints at a modest ~2% listing bump.
Brokerages suggest subscribing if you're thinking long-term due to Kalpataru's strong brand and improving financials.