This IPO will simply be a fresh issue; there will not be an offer-for-sale. As per DRHP, the size of the fresh issue will be Rs 1,590 crore. The face value is Rs 10 per each share.
The book running lead managers of this offering are Nomura Financial Advisory and Securities (India) Private Limited, JM Financial Limited, and ICICI Securities Limited while Link Intime India Private Limited is the Registrar for it.
The company plans to utilize the net proceeds to fund the repayment or pre-payment of certain borrowings taken by the company and its subsidiaries, as well as to support general corporate purposes.
The company may raise up to Rs 318 crore through a pre-IPO placement with the advice of BRLMs; if the offering is successful, the funds will be subtracted from the issue.
According to an ANAROCK report, Kalpataru Ltd is ranked fourth largest in property development in Thane, Maharashtra, and fifth in unit construction among real estate developers in the MCGM area for units delivered between 2019 and 2023.
Mofatraj and Parag Munot are the promoters of the company. The company is part of the Kalpataru Group. The Kalpataru Group has a global presence and engages in EPC contracting for power transmission and distribution, railways, oil and gas, civil infrastructure projects, warehousing and logistics, and facility management. Also Kalpataru Projects International Limited is listed on both the NSE and BSE.
Kalpataru recorded a consolidated net loss of Rs 113.8 crore in fiscal year 2024, compared to Rs 226.8 crore the previous year. The total revenue for fiscal year 2023 was Rs 3,633.2 crore, but it fell by 47% to Rs 1,930 crore in the current year.
