Kalptaru IPO Opens Soon—Here’s Why Investors Are Rushing In!

Real estate player Kalpataru Limited is all set to launch its Rs 1,590-crore initial public offering (IPO) on June 24. 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, price band, offer size, and other key details ahead of the launch of the Kalpataru IPO.

Kalpataru Limited IPO: GMP

On Monday, the company’s shares were commanding a Grey Market Premium (GMP) of around Rs 9 above the upper price band of Rs 414 — hinting at a possible listing price of Rs 423, according to a market tracking website.
While the premium translates to a modest 2% gain, market watchers say it reflects a cautious but steady interest among investors ahead of the three-day bidding window, which runs from June 24 to June 26.

Kalpataru Limited IPO: Price Band

As per a market tracking website, the price band for the IPO is set between Rs 387 to Rs 414 per share, and investors can bid for a minimum of 36 shares per lot, requiring an investment of Rs 14,904 at the upper band.
Small Non-Institutional Investors (NIIs) must bid for at least 14 lots comprising 504 shares, amounting to an investment of Rs 2,08,656. However, big Non-Institutional Investors need to bid for a minimum of 68 lots, requiring an investment of Rs 10,13,472.

Also Read: Large order wins to propel earnings growth for Kalpataru Projects: Report | Republic World

Kalpataru Limited IPO: Listing Date

The basis for the allotment of shares is expected to be finalised on Friday, June 27. The company will begin processing refunds on Monday, June 30, and shares will be credited to the demat accounts of allottees on the same day after the refunds.
The listing is likely to take place on July 1 on both the BSE and NSE.

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.

Kalpataru Limited IPO: Usage of Proceeds

Of the total Rs 1,590 crore being raised, Kalpataru plans to utilise approximately Rs 1,192.5 crore to reduce its outstanding borrowings. The remaining proceeds will be deployed towards general corporate purposes in order to improve its financial position and invest in future expansion.

Kalpataru Limited IPO: Financial Performance

The real estate firm registered a profit of Rs 5.51 crore in the first nine months of FY25, turning around from previous losses. Revenue for the same period stood at Rs 1,699 crore, although the company’s consolidated borrowings remain high at around Rs 11,000 crore.

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 is understood to have delivered over 26 million square feet of built-up area.

Kalpataru’s IPO is notable as one of the first real estate issues to hit the markets in 2025, coming at a time when investor appetite for infrastructure and housing-focused companies is seeing a revival.