Kalpataru Limited’s IPO to Open on June 24

Mumbai, June 19, 2025: Kalpataru Limited, one of the prominent real estate developers in the Mumbai Metropolitan Region of Maharashtra, will open its initial public offering (IPO) on Tuesday, June 24.

The Anchor Investor Bidding Date is one Working Day before the Bid/Issue Opening Date, Monday, June 23. The Bid/ Issue Closing Date will be Thursday.

The price band of the issue has been fixed from INR 387 per equity share to INR 414. Bids can be made for a minimum of 36 equity shares and multiples of 36 equity shares thereafter.

The issue consists of a fresh issue of up to such number of equity shares aggregating up to INR 15,900 million.

The company proposes to utilise the net proceeds from the IPO towards repayment/pre-payment, in full or part, of certain borrowings availed by the company, subsidiaries and general corporate purposes.

The issue is being made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (“SCRR”) read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(2) of the SEBI ICDR Regulations wherein not less than 75 per cent of the net issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (QIBs, and such portion, the QIB Portion) provided that the company in consultation with the BRLMs may allocate up to 60 per cent of the QIB Portion to anchor investors on a discretionary basis (Anchor Investor Portion).

One-third of the Anchor Investor Portion shall be reserved for the domestic mutual funds (MFs) subject to valid bids being received from the domestic MFs at or above the Anchor Investor Allocation Price in accordance with the SEBI ICDR Regulations.

In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Shares shall be added to the QIB Portion (other than the Anchor Investor Portion) (the Net QIB Portion). Further, five per cent of the Net QIB Portion shall be available for allocation on a proportionate basis to MFs only and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB bidders, including MFs subject to valid bids being received at or above the issue price.

Not more than 15 per cent of the net issue shall be available for allocation to Non-Institutional Investors, of which one third of such portion shall be reserved for applicants with application size of more than INR 0.20 million and up to INR 1.00 million.

Two-third of such portion shall be reserved for applicants with application size of more than INR 1.00 million provided that the unsubscribed portion in either of such sub-categories may be allocated to applicants in the other sub-category of Non-Institutional Investors and not more than 10 per cent of the net issue shall be available for allocation to RIIs in accordance with the SEBI ICDR Regulations subject to valid Bids being received from them at or above the issue price.

Further, up to [•] equity shares aggregating to INR 159.00 million will be available for allocation to eligible employees subject to valid bids being received at or above the issue price.

All bidders, other than Anchor Investors, are required to participate in the issue by mandatorily utilising the Application Supported by Blocked Amount (ASBA) process by providing details of their respective ASBA account (as defined hereinafter) and UPI ID in case of UPI Investors, if applicable, in which the corresponding bid amounts will be blocked by the SCSBs or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts.

The equity shares offered through the Red Herring Prospectus are proposed to be listed on both BSE and NSE.

ICICI Securities Limited, JM Financial Limited and Nomura Financial Advisory and Securities (India) Private Limited are the book running lead managers to the Issue.