Kalpataru Ltd Files DRHP for Rs.1,008 Cr IPO

Strategic Insights -

Kalpataru Ltd, a prominent real estate firm focused on premium residential, commercial, and retail projects, has filed a Draft Red Herring Prospectus (DRHP) for an initial public offering (IPO) of Rs.1,008 crore. The company plans to raise an additional Rs.200 crore through a pre-IPO placement by issuing 31 lakh shares. The IPO proceeds will be used to finance the construction and development costs of certain projects, invest in associate firm Ananta Landmarks Private Limited, and repay existing loans.

Key Takeaways:

  • Kalpataru Ltd is focused on developing premium residential, commercial, retail, and integrated townships primarily in Mumbai and Pune, with ongoing projects and forthcoming projects in hand.
  • The company has a total income of Rs.616 crore for the year 2009-10, with a net profit of Rs.104 crore.
  • Kalpataru Ltd has completed 20 residential developments, three commercial developments, and one retail development, aggregating 5,293,075 sq ft of Saleable/Leaseable Area, and has land reserves aggregating 2,670.36 acres.
  • The company has 15 ongoing projects and 10 forthcoming projects in hand.
  • Kalpataru Group has interests in real estate development, property and project management, engineering, procurement, and construction contracting for power transmission and infrastructure projects.

Statistics:

  • IPO size: Rs.1,008 crore
  • Pre-IPO placement: Rs.200 crore
  • Total shares issued through pre-IPO placement: 31 lakh
  • Construction and development costs: Rs.410 crore
  • Investment in associate firm Ananta Landmarks Private Limited: Rs.294 crore
  • Repayment of existing loans: Rs.185 crore

Sources:

  • Kalpataru Ltd, part of kalpataru group, [Copyright 2010 Euclid Infotech Pvt. Ltd., distributed by Contify.com]