Khaitan & Co acted as legal counsel to Kalpataru Limited on its proposed IPO.
The Book Running Lead Managers on this transaction were ICICI Securities, JM Financial and Nomura Financial Advisory and Securities (India).
The deal team included Sudhir Bassi, Subhayu Sen, Aayush Mohata, Aparna Bagree, Sarjana Das, Bhavna Sancheti and Aastha Sarda.
Kalpataru Ltd, a prominent real estate developer based in Mumbai, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
The proposed IPO will involve a fresh issuance of equity shares valued at ₹1,590 crore, with a face value of ₹10 each, as detailed in the DRHP.
The company plans to use the proceeds from this issue to repay or prepay certain existing debts and for general corporate purposes.
Kalpataru operates as an integrated real estate development firm within the Mumbai Metropolitan Region (MMR). It engages in all aspects of real estate development, including land acquisition, project planning, design, execution, sales, and marketing.
According to an ANAROCK report, Kalpataru is ranked as the fifth largest real estate developer in the MCGM area and the fourth largest in Thane, Maharashtra, based on the number of units supplied between 2019 and 2023.
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