Kalpataru Limited IPO: Know the 10 Key Points Before Investing

Kalpataru IPO is all set to open on June 24, 2025 (Tuesday). Established in 1988, Mumbai-based integrated real estate developer Kalpataru Limited handles every stage of the development process from identifying and acquiring land to planning, designing, construction, sales, and marketing. In this blog, we’ll know the 10 key Kalpataru Limited IPO details, including its IPO dates, minimum investment, financials, peer analysis, and risk factors.

1. Kalpataru IPO Date

Kalpataru IPO is a mainboard IPO which is going to open on June 24, 2025 and will close on June 26, 2025. The allotment date is June 27, 2025, while the listing is expected to be on July 1, 2025. As it is a mainboard IPO, it is going to list on both the NSE and BSE exchanges.

2. Kalpataru IPO Issue Size

Kalpataru IPO valuation, as denoted by the market capitalization, stood at ₹8,524.07 crores. The lot size is 36 shares, and the price band is fixed at ₹387 to ₹414 per share. Its issue size is ₹1,590 crores (3.84 crore shares), which only includes the fresh issue component.

3. Kalpataru IPO Proceeds Usage

₹1,192.5 crores of Kalpataru IPO proceeds will be used for the repayment or pre-payment of loans taken by the company and its subsidiaries. The remaining amount will be deployed for other corporate purposes.

4. Kalpataru IPO Reservations and Minimum Investment

Kalpataru IPO reservation to retail investors is 10% of the offer. For QIBs, it is 75% of the offer, and for NIIs, it is 15% of the offer. There is no provision for Kalpataru IPO shareholder quota in its RHP.

Kalpataru IPO lot size is 36 shares, wherein bidding can be done in multiples. The minimum amount that a retail investor has to invest (at the upper price band) is ₹14,904. For S-NII, the minimum investment amount is ₹2,08,656, while for B-NII, it is ₹10,13,472.

5. Kalpataru IPO GMP

Kalpataru IPO GMP is nil as of June 20, 2025. Currently, this IPO is not seeing any estimated listing gain on the price band. However, GMP is not a safe or assured criterion to bid for an IPO.

6. Kalpataru IPO: About the Company

Kalpataru Limited, part of the Kalpataru Group, has established a strong presence in Maharashtra’s real estate market. Between 2019 and December 31, 2024, the company ranked as the fifth-largest developer in the MCGM region and seventh in Thane based on the number of projects delivered. It focuses on a wide range of development projects, including luxury, premium, mid-income residential projects, commercial, and retail projects.

By the end of 2024, it had completed 120 projects, covering over 25.87 million square feet of developable area across cities like Mumbai, Thane, Panvel, and Pune, as well as Hyderabad, Indore, and Bengaluru.

As of December 2024, Kalpataru Limited had 25 ongoing projects with a total developable area of around 24.83 million square feet. In addition, it has 6 forthcoming projects in the pipeline, covering approximately 16.33 million square feet, which are expected to be launched in phases in the coming financial years. Apart from MMR, the company also has 2 ongoing projects in Hyderabad and Noida.

7. Kalpataru IPO: Industry Overview

India’s real estate market has grown at a compound annual growth rate (CAGR) of around 10.83%, from $50 billion in 2008 to $180 billion in 2020. It is expected that this sector can grow to an estimated $5.8 trillion by 2047.

Mumbai stands out as one of the country’s most dynamic real estate hubs with a range of micro-markets, from the main city areas to the suburbs, and fast-developing regions such as Thane and Navi Mumbai, offering massive growth potential for real estate players.

8. Kalpataru IPO: Financial Performance

Kalpataru Limited reported a loss of ₹116.51 crores in FY24, but the company made a turnaround and earned a profit of ₹5.51 crores in the nine months of FY25. Its revenue from operations stood at ₹1,929.98 crores in the financial year 2023-24, reflecting a 46.88% YoY fall from the previous financial year.

Its EBITDA moved from a negative ₹78.01 crores in FY24 to a positive ₹101.67 crores in just the first nine months of FY25, indicating an improvement in operational efficiency. Highlighting its operational metric, its sales value rose by 8.27% YoY to ₹3,201.98 crores in FY24.

9. Kalpataru IPO: Peer Analysis

In the nine months of FY25, Kalpataru recorded 1,407 property sales, which is higher than both the key peers, Oberoi Realty and Keystone Realtors. When it comes to financial metrics, its Adjusted EBITDA margin came healthy at 31.77%.

However, the company’s Earnings Per Share (EPS) was relatively low at ₹0.62, and the Return on Net Worth (RONW) was 0.55%, as compared to the peers.

10. Kalpataru IPO Risk Factors

Kalpataru Limited had made losses and negative cash flows in the past financial years, which can continue in the future as well. A large portion of Kalpataru’s real estate developments is focused on the Mumbai Metropolitan Region (MMR) and Pune. Any economic slowdown or regulatory changes in these regions could significantly impact the company’s financial performance.

Also, the real estate industry is known to be prone to delays and cost overruns. These risk factors can also impact this company, which can erode its operational performance and cash flows.

For all the insights on Kalpataru IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for Kalpataru IPO easily on the SMC ACE App by opening free demat account now.

References:
https://www.investorgain.com/gmp/kalpataru-ipo-gmp/1277/
https://www.sebi.gov.in/filings/public-issues/jun-2025/kalpataru-limited-rhp_94679.html

Author: All Content is verified by SMC Global Securities.