Kalpataru Ltd's Stock Rally: A Promising Start on BSE and NSE
Kalpataru Ltd, a notable real estate developer, saw a strong stock market debut. Initially priced at Rs 414, shares surged over 9% on both BSE and NSE. The IPO, a fresh issue worth Rs 1,590 crore, excludes an offer-for-sale, aiming to address debt and general corporate expenses.
- Country:
- India
Shares of the real estate developer Kalpataru Ltd experienced a promising start on the stock market, with the listing initially flat but later jumping over 9%.
Opening at Rs 414.10 on the BSE, the shares quickly gained momentum, rising to Rs 453, while on the NSE, they paralleled this performance with a similar surge.
The IPO, which drew 2.26 times subscription, is part of Kalpataru's strategy to manage debt and finance general corporate operations, marking a fresh equity issuance of Rs 1,590 crore with no offer-for-sale.
(With inputs from agencies.)
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- Kalpataru Ltd
- real estate
- IPO
- stock market
- BSE
- NSE
- shares
- surge
- Mumbai
- market debut
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