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Kalpataru IPO launch next week; focus on sub- ₹10 crore housing in MMR and Pune
Mumbai-based Kalpataru, set to launch its IPO next week, will focus on ₹1 crore to ₹10 crore homes and redevelopment projects in MMR and Pune
Mumbai-based real estate developer Kalpataru, which is set to launch its Initial Public Offering (IPO) next week, announced that it will continue to focus on key markets including the Mumbai Metropolitan Region (MMR), Pune, and Hyderabad, where it already has ongoing projects.
The company noted that a majority of the housing demand falls within the ₹1 crore to ₹10 crore price bracket, which aligns with its existing inventory. Of its 50 million sq. ft. portfolio, approximately 70% is priced up to ₹10 crore, with a substantial portion available for under ₹3 crore.
To focus on redevelopment
"The demand if we go to see today is majority in the ₹1 crore to ₹10 crore segment, and this is what our supply is. Going further, we will adapt as per the demand. However, the majority of the demand, at least in Mumbai, is for ₹1 crore to ₹10 crore," said Parag Munot, managing director, Kalpataru.
"We also have redevelopment projects in our portfolio, and we are very positive about redevelopment projects in MMR. There is no doubt that the MMR and Pune markets have good depth, but we also see depth in Delhi-NCR, Hyderabad, and Bengaluru," Munot said.
Strong residential focus: 95% of the company portfolio in housing, 73% in MMR
The company also has a strong presence in the premium and luxury segments of the Mumbai real estate market. Almost 95% of its portfolio is in the residential segment, and 73% is in the Mumbai Metropolitan Region. The company has completed over 120 projects at the group level.
In addition to the residential segment, the company has commercial real estate projects in MMR and Pune and plotted development projects in MMR and Nagpur.
IPO to open on June 24
The company will open its IPO on June 24 and close on June 26. The price band of the Issue has been fixed from ₹ 387 per equity share to ₹ 414 per equity share. The company plans to raise ₹1,590 crore from the IPO.
The IPO proceeds will be primarily used for debt repayment, a strategic move to strengthen the company’s balance sheet. As of December 31, 2024, Kalpataru reported total assets of ₹15,562 crore.
