Kalpataru Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹414
Per ShareLot Size
36 Shares
Minimum Investment
₹14,904
Issue Size
₹1,590 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Kalpataru Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
81.35%
Issue Type
Book Building
ISIN
INE227J01012
About the Company
The Company is 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 its projects. The Company is a prominent real estate developer in the MMR and is present across all micro-markets in MMR. The Company focuses on the development of luxury, premium, and midincome residential, commercial, and retail projects, integrated townships, lifestyle gated communities, and redevelopments.
Industry Overview
The real estate sector, along with its ancillary industries, is a significant growth driver of the Indian economy. The real estate market in India has grown at a compounded annual growth rate of approximately 10.83% from US$50 billion in 2008 to US$180 billion in 2020 and is expected to further to reach US$1 trillion by 2030 and touch US$5.8 trillion by 2047. Mumbai is a significant real estate market with diverse micro-markets, including the city, suburbs, extended suburbs, and areas like Thane and Navi Mumbai.
Company History
Kalpataru Limited was originally incorporated as `Kalpataru Homes Private Limited' as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated December 22, 1988, issued by the Additional Registrar of Companies, Maharashtra, Bombay. The name of the Company was changed to `Kalpataru Homes Limited', upon its conversion into a public company, pursuant to a board resolution and a special resolution passed in the extra ordinary general meeting of the Shareholders, each dated April 3, 1995, and a fresh certificate of incorporation dated May 16, 1995, issued by the Additional Registrar of Companies, Maharashtra, Bombay. Subsequently, the name of the Company was changed to `Kalpataru Limited' to envisage wider horizon in terms of all type of the real estate development, pursuant to a board resolution dated December 5, 2007, and a special resolution passed in the extra ordinary general meeting of the Shareholders held on January 28, 2008, and a fresh certificate of incorporation consequent upon change of name was issued by the Deputy Registrar of Companies, Maharashtra at Mumbai dated February 1, 2008.
Products & Services
- The Company is an integrated real estate development company involved in all key activities associated with real estate development.
Growth Strategy
- Maintain its focus on the Mumbai Metropolitan Region and Pune, Maharashtra while selectively pursuing opportunities in other high growth cities.
- Completing and selling its Ongoing Projects, Forthcoming Projects and Planned Projects in a timely manner and unlocking potential value in its existing land reserves.
- Deleveraging its balance sheet.
- Further growing its real estate development business by entering into redevelopment, joint venture and joint development projects with other landowners to develop their land.
- Continue to focus on all segments of residential projects while selectively developing retail, commercial and other projects as part of mixed use developments.
- Continue to create innovative, quality, green and sustainable real estate developments.
Customer Base
wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offering of up to 38,444,611 equity shares of face value of Rs. 10 each ("Equity Shares") of Kalpataru Limited ("Company") for cash at a price of Rs.414 per equity share (including a share premium of Rs. 404 per equity share) ("Issue Price") aggregating up to Rs. 15,90.00 crores^ ("issue"). The issue includes a reservation of up to 422,872 equity shares aggregating up to Rs. 15.90 crores (constituting up to 0.21% of the post-issue paid-up equity share capital of the company) for subscription by eligible employees (the "Employee Reservation Portion"). The company, in consultation with the book running lead managers ("brlms"), offered a discount of Rs. 38 per equity share representing of discount up to 9.18% of the issue price to eligible employees bidding in the employee reservation portion ("Employee Discount"). The issue less the employee reservation portion is hereinafter referred to as the "Net Issue". The issue and the net issue shall constitute 18.67 % and 18.46%,respectively, of the post-issue paid-up equity share capital of the company. ^ A discount of up to 9.18 % on the issue price (equivalent of Rs. 38 per equity share) was offered to eligible employees bidding in the employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Prominent real estate company in the Mumbai Metropolitan Region in Maharashtra with a portfolio of projects diversified across different micro-markets and price points in the Mumbai Metropolitan Region and Pune, Maharashtra
- Well-established brand with the ability to sell throughout the construction phase
- Strong project pipeline with visibility towards near term cash flows
- Proven end-to-end execution capabilities with continuous innovation and ability to deliver projects in a timely fashion
- Leading real estate company in implementation of green and sustainable buildings
- The company has incurred net losses in the past. Any losses in future periods could adversely affect its financial condition, results of operations and cash flows and the trading price of its Equity Shares.
- As of December 31, 2024, 94.84% of its real estate development projects were located in and around the Mumbai Metropolitan Region and Pune and the company is exposed to risks originating from economic, regulatory, political and other changes in this region which could adversely affect its business, results of operations and financial condition.
- The company has not acquired the entirety of the land or rights required to develop two of its Planned Projects, Kalpataru Platina and Kalpataru Espacio. In the event the company is unable to acquire all the land required, its may not be able to develop these projects as planned, or at all.
- Its Statutory Auditors have included matters of emphasis and negative observations in their audit reports on its audited consolidated financial statements for the nine months ended December 31, 2024 and the past three Financial Years.
- There are outstanding litigation proceedings involving the Company, Subsidiaries, Joint Ventures, Associate, Group Companies, Directors, Key Managerial Personnel, Senior Management and Promoters and an adverse outcome may adversely affect its reputation, business, financial condition, results of operations and cash flows.