Mumbai: Real estate powerhouse Kalpataru Limited has successfully raised ₹708 crore from a cohort of marquee anchor investors, ahead of its much-anticipated initial public offering (IPO) set to open on June 24 and close on June 26, 2025.
The pre-IPO fundraising saw strong institutional interest, with equity shares priced at ₹414 apiece – the upper limit of the company’s IPO price band of ₹387–₹414.
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The anchor book allocation included prominent names such as GIC (Singapore), Bain Capital, SBI Mutual Fund, ICICI Prudential MF, Aditya Birla Sun Life Insurance, 360 ONE Group, SBI General Insurance, Taurus MF, and Ayushmat Ltd.
“The robust anchor response reflects institutional confidence in Kalpataru’s business fundamentals, strong brand equity, and growth trajectory in India’s dynamic real estate sector,” said a market analyst tracking the IPO.
Kalpataru’s ₹1,590 Cr IPO to Fund Debt Reduction and Expansion
Kalpataru’s IPO comprises a fresh issue of equity shares worth ₹1,590 crore, with no offer-for-sale (OFS) component. The proceeds will be directed toward repaying existing borrowings and general corporate purposes, thereby strengthening the company’s balance sheet and funding future growth.
As per its Red Herring Prospectus, the company reported property sales of ₹3,201.98 crore in FY 2023–24, and ₹2,727.24 crore during April–December 2024, indicating strong demand in both residential and commercial segments.
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Kalpataru: One of India’s Largest Real Estate Developers
Valued at around ₹8,500 crore, Kalpataru Limited boasts a massive real estate portfolio of nearly 50 million sq. ft., including:
- 25 million sq. ft. of ongoing projects
- 16 million sq. ft. of upcoming launches
- 8 million sq. ft. in planning stage
Since its inception, the company has completed 75 projects spanning 16 million sq. ft., with a dominant presence in the Mumbai Metropolitan Region (MMR) and Pune, and expansion into Hyderabad and Noida.
Founded in 1969 by Mofatraj P Munot, the Kalpataru Group has diversified interests, including EPC contracting for power, oil & gas, railways, civil infrastructure, logistics, and facility management across multiple geographies.
