Kalpataru Limited Gets SEBI Nod For IPO

Kalpataru Limited got nod from market regulator Securities and Exchange Board of India (“SEBI”) for an IPO. Kalpataru Limited is a prominent real estate developer in the Mumbai Metropolitan Region (“MMR”) in Maharashtra and are present across all micro-markets in the MMR (Source: Anarock Report).

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 their projects.

Kalpataru Limited had filed DRHP on August 14, 2024. The company’s initial public offering comprises a fresh issue of up to Rs 15,900 million. The company proposes to utilize the net proceeds towards repayment/pre-payment, in full or in part, of certain borrowings availed by the Company and their Subsidiaries; and general corporate purposes.

ICICI Securities Limited, JM Financial Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the issue.