Kalpataru Ltd's IPO Sees Modest Start: Insights and Implications
Real estate developer Kalpataru Ltd's IPO was 9% subscribed on the opening day. The offer included 20,35,764 shares against the 2,28,26,516 available. Retail investors subscribed at 33%, with non-institutional investors at 10%. The IPO is priced between Rs 387-414 per share, ending on June 26.
- Country:
- India
Kalpataru Ltd, a prominent real estate developer, launched its initial public offering (IPO) with a moderate start, securing a 9% subscription on its first day.
According to data from the NSE, the IPO attracted bids for 20,35,764 shares, a fraction of the 2,28,26,516 shares available. Retail investors played a significant role, contributing to a 33% subscription, while non-institutional investors accounted for 10%.
The Mumbai-based company has set its IPO price band at Rs 387-414 per share, with the offering scheduled to close on June 26. Intending to raise Rs 1,590 crore from the fresh equity issue, the funds will be allocated toward debt repayment and other corporate initiatives.
(With inputs from agencies.)
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