Ahmedabad:  Kalpataru Limited, one of the prominent real estate developers in the Mumbai Metropolitan Region of Maharashtra (MMR) and present across all its micro-markets in MMR, will open its initial public offering on Tuesday, June 24, 2025, a press release stated.

As per an official statement, The Anchor Investor Bidding Date is one Working Day prior to Bid/Issue Opening Date, that is, Monday, June 23, 2025. The Bid/ Issue Closing Date will be on Thursday, June 26, 2025. The Price Band of the Issue has been fixed from ₹ 387 per Equity Share to ₹ 414 per Equity Share. 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 ₹ 15,900 million. The Company proposes to utilize the net proceeds from the Issue towards repayment/pre-payment, in full or part, of certain borrowings availed by the Company and the subsidiaries; and general corporate purposes,” the press release said.

The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on both BSE Limited and the National Stock Exchange of India Limited.

ICICI Securities Limited, JM Financial Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers (BRLMs) to the Issue.