Latest news with #KalpataruLtd
&w=3840&q=100)
Business Standard
6 hours ago
- Business
- Business Standard
IPO-bound Kalpataru sells properties worth Rs 2,727 cr in Apr-Dec FY25
Real estate developer Kalpataru Ltd, which will launch Rs 1,590-crore IPO next week, sold properties worth Rs 2,727.24 crore during April-December of the last fiscal on strong demand for housing and commercial assets. The company sold properties worth Rs 3,201.98 crore in 2023-24, according to its updated red herring prospectus (RHP) filed with Sebi. The latest document has updates till the third quarter of the 2024-25 fiscal only. Mumbai-based Kalpataru focuses on the development of residential, commercial, retail and integrated township projects. It is also into the redevelopment of societies. The company has fixed a price band of Rs 387 to Rs 414 per share for its Rs 1,590 crore initial public offering (IPO), which will open for public subscription on June 24 and conclude on June 26. The bidding for anchor investors will open on June 23. The company's IPO is entirely a fresh issue of equity shares worth Rs 1,590 crore with no offer for sale (OFS) component. It proposes to utilise funds for the payment of debt and for general corporate purposes. At the upper end of the price band, the company is valued at around Rs 8,500 crore, brokerage houses said. Kalpataru Ltd Managing Director Parag M Munot expressed confidence that the company's IPO would be successful despite global conflicts and economic uncertainties. He noted that India's growth story is intact, driving demand across sectors, including real estate. Munot said the company has a huge portfolio of nearly 50 million square feet, which includes 25 million square feet of ongoing projects, 16 million square feet of forthcoming, and nearly 8 million square feet of projects at the planning stage. Kalpataru is one of the leading real estate developers in the country with a significant presence in the Mumbai Metropolitan Region (MMR) in Maharashtra. Since its inception, the company has completed 75 projects, comprising 16 million square feet. While a majority of the company's projects are located in the MMR and Pune (Maharashtra), it also has projects in Hyderabad (Telangana) and Noida (Uttar Pradesh). Kalpataru Group was established in 1969 by Mofatraj P Munot. The group has a multi-national presence and has operations in EPC contracting for power transmission and distribution, oil and gas, railways, civil infrastructure projects, warehousing and logistics, and facility management. Further, Kalpataru Projects International Ltd is listed on the NSE and BSE.
Hindustan Times
13 hours ago
- Business
- Hindustan Times
Kalpataru IPO launch next week; focus on sub- ₹10 crore housing in MMR and Pune
Mumbai-based real estate developer Kalpataru, which is set to launch its Initial Public Offering (IPO) next week, announced that it will continue to focus on key markets including the Mumbai Metropolitan Region (MMR), Pune, and Hyderabad, where it already has ongoing projects. The company noted that a majority of the housing demand falls within the ₹1 crore to ₹10 crore price bracket, which aligns with its existing inventory. Of its 50 million sq. ft. portfolio, approximately 70% is priced up to ₹10 crore, with a substantial portion available for under ₹3 crore. "The demand if we go to see today is majority in the ₹1 crore to ₹10 crore segment, and this is what our supply is. Going further, we will adapt as per the demand. However, the majority of the demand, at least in Mumbai, is for ₹1 crore to ₹10 crore," said Parag Munot, managing director, Kalpataru. "We also have redevelopment projects in our portfolio, and we are very positive about redevelopment projects in MMR. There is no doubt that the MMR and Pune markets have good depth, but we also see depth in Delhi-NCR, Hyderabad, and Bengaluru," Munot said. Also Read: Kalpataru inks redevelopment agreements with two housing societies in Mumbai with a revenue potential of ₹2,000 crore The company also has a strong presence in the premium and luxury segments of the Mumbai real estate market. Almost 95% of its portfolio is in the residential segment, and 73% is in the Mumbai Metropolitan Region. The company has completed over 120 projects at the group level. In addition to the residential segment, the company has commercial real estate projects in MMR and Pune and plotted development projects in MMR and Nagpur. Also Read: Mumbai-based Kalpataru Ltd plans to foray into Nagpur real estate market, may launch a plotted development project The company will open its IPO on June 24 and close on June 26. The price band of the Issue has been fixed from ₹ 387 per equity share to ₹ 414 per equity share. The company plans to raise ₹1,590 crore from the IPO. Also Read: Mumbai real estate news: Blackstone-backed ASK Property Fund invests ₹190 crore in Kalpataru's project The IPO proceeds will be primarily used for debt repayment, a strategic move to strengthen the company's balance sheet. As of December 31, 2024, Kalpataru reported total assets of ₹15,562 crore.
Time of India
a day ago
- Business
- Time of India
Kalpataru sets IPO price band at ₹387-414 per share
NEW DELHI: Real estate developer Kalpataru Ltd on Thursday fixed a price band of Rs 387 to Rs 414 per share for its Rs 1,590 crore Initial Public Offering (IPO). The initial share sale will open for public subscription on June 24 and conclude on June 26. The bidding for anchor investors will open on June 23, the company announced. The company's IPO is entirely a fresh issue of equity shares worth Rs 1,590 crore with no Offer For Sale (OFS) component. At the upper end of the price band, the company is valued around Rs 8,500 crore, brokerage houses said. The Mumbai-based company proposes to utilise funds for the payment of debt and for general corporate purposes. Kalpataru Ltd is a prominent real estate developer in the Mumbai Metropolitan Region (MMR) in Maharashtra and is present across all micro-markets in the MMR. While a majority of the company's projects are located in the MMR and Pune (Maharashtra), it also has projects in Hyderabad (Telangana) and Noida (Uttar Pradesh). The company focuses on the development of luxury, premium, and mid-income residential, commercial, and retail projects, integrated townships, lifestyle gated communities, and redevelopments. Kalpataru Ltd is a part of the Kalpataru Group , which has a multi-national presence and has operations in EPC contracting for power transmission and distribution, oil and gas, railways, civil infrastructure projects, warehousing and logistics, and facility management. The company announced that 75 per cent of the offer size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors. Further, investors can bid for a minimum of 36 shares and in multiple thereof. ICICI Securities Ltd, JM Financial Ltd and Nomura Financial Advisory and Securities (India) Private Ltd are the book running lead managers to the issue. Shares of the company are expected to list on July 1 on the BSE and NSE.
Time of India
a day ago
- Business
- Time of India
IPO market set for busy week with Rs 15,000 crore in deals
Tired of too many ads? Remove Ads India's primary market is set for its busiest period this year, with at least four companies planning to raise a total of about Rs 150 billion ($1.7 billion) through initial public offerings next week. Kalpataru Ltd ., Ellenbarrie Industrial Gases Ltd., and Globe Civil Projects Ltd. will start share sale Tuesday. HDB Financial Services Ltd., a unit of India's biggest private lender HDFC Bank Ltd ., is also planning to launch its $1.4 billion IPO Wednesday, Moneycontrol reported this week, citing people it didn't offerings indicate share sales in India are bouncing back after a lull in the first quarter, helped by a 12% rally in the benchmark NSE Nifty 50 Index from its March low. The Reserve Bank of India's cash infusions into the financial system and a surprise 50-basis-point rate cut this month are also spurring companies to speed up public listing plans.'India's secondary market has rebounded in recent weeks, buoyed by strong liquidity. With a strong secondary market, IPOs fairly priced may see good demand from both domestic and foreign investors,' said V Jayasankar, managing director, Kotak Investment IPO will be the largest offering in the nation's equity market since Hyundai Motor India Ltd.'s $3.3 billion deal last year. Industrial gas supplier Ellenbarrie is looking to raise as much as 8.52 billion rupees, while Mumbai-based real estate developer Kalpataru is seeking to raise as much as 15.9 billion rupeesMeanwhile, LG Electronics Inc. is also considering reviving an IPO of its Indian unit as soon as September, people familiar with the matter said
Deccan Herald
a day ago
- Business
- Deccan Herald
Real estate firm Kalpataru sets IPO price band at Rs 387-414/share
New Delhi, Real estate developer Kalpataru Ltd on Thursday fixed a price band of Rs 387 to Rs 414 per share for its Rs 1,590 crore Initial Public Offering (IPO)..The initial share sale will open for public subscription on June 24 and conclude on June 26. The bidding for anchor investors will open on June 23, the company company's IPO is entirely a fresh issue of equity shares worth Rs 1,590 crore with no Offer For Sale (OFS) the upper end of the price band, the company is valued around Rs 8,500 crore, brokerage houses Mumbai-based company proposes to utilise funds for the payment of debt and for general corporate Ltd is a prominent real estate developer in the Mumbai Metropolitan Region (MMR) in Maharashtra and is present across all micro-markets in the a majority of the company's projects are located in the MMR and Pune (Maharashtra), it also has projects in Hyderabad (Telangana) and Noida (Uttar Pradesh)..The company focuses on the development of luxury, premium, and mid-income residential, commercial, and retail projects, integrated townships, lifestyle gated communities, and Ltd is a part of the Kalpataru Group, which has a multi-national presence and has operations in EPC contracting for power transmission and distribution, oil and gas, railways, civil infrastructure projects, warehousing and logistics, and facility company announced that 75 per cent of the offer size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors can bid for a minimum of 36 shares and in multiple Securities Ltd, JM Financial Ltd and Nomura Financial Advisory and Securities (India) Private Ltd are the book running lead managers to the issue. Shares of the company are expected to list on July 1 on the BSE and NSE.
