Kalpataru Limited IPO Day 3: Subscription Trends, GMP, Price Band, and What Investors Should Know

The initial public offering (IPO) of Kalpataru Limited, a prominent real estate developer with a strong foothold in the Mumbai Metropolitan Region (MMR), is drawing to a close today. The Rs 1,590-crore public issue, which opened on June 24, has seen steady traction from retail investors, while institutional participation is still catching up.

The IPO is entirely a fresh issue of 3.84 crore shares, with no Offer-for-Sale (OFS) component. Here is a look at the latest GMP, subscription status, price band, offer size, and other key details ahead of the launch of the public listing.

Kalpataru Limited IPO: Price band and capital structure

As per a market tracking website, the price band has been set between Rs 387 and Rs 414 per share, with a minimum application size of 36 shares, translating to a retail investment of Rs 14,904 at the upper end.

Of the total issue, 75% is earmarked for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and the remaining 10% for retail individual investors.

Kalpataru Limited IPO: GMP 

As per market tracking website, Kalpataru shares are commanding a premium of Rs 3 as of June 26, 2025, 09:54 AM. With the price band capped at Rs 414, the estimated listing price stands at Rs 417, indicating a marginal potential gain of around 0.72%.

Also Read: Kalpataru Limited IPO Day 2: Check GMP, Subscription Status, Price Band, And Key Details | Republic World

Kalpataru Limited IPO: Subscription status

By the final day of bidding, the overall issue was subscribed around 40%, with the retail segment witnessing the highest level of interest. While the retail portion was subscribed 0.79 times, the non-institutional investor (NII) category was subscribed 0.50 times. The qualified institutional buyer (QIB) segment, however, was subscribed just 0.17 times.

Key Dates to Look Out For

Looking ahead, the IPO will close for subscription on Wednesday, June 26. The basis of allotment is expected to be finalized by June 27, with shares likely to be listed on BSE and NSE by July 1.

ICICI Securities Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Pvt. Ltd. will be the book-running lead managers for the IPO, while MUFG Intime India Private Limited (Link Intime) is responsible for the registration of this issue.

Usage of Kalpataru IPO: Usage of Proceeds

Kalpataru Limited is looking to utilise a large share of the proceeds for debt repayment worth Rs 1,192.5 crore. The remaining proceeds will be deployed towards general corporate purposes in order to improve its financial position and invest in future expansion. Post-issue, promoter holding is expected to come down from 100% to approximately 81.3%.

About Kalpataru Limited

Founded in 1988 and headquartered in Mumbai, Kalpataru has completed more than 120 residential and commercial projects across key Indian cities including Pune, Bengaluru, Hyderabad, Indore, and Jodhpur. The property developer has a wide project portfolio that spans over 30 countries and 25 million sq. ft. of development.

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