Kalpataru Share Price Live: Stock extends gain post flat listing, up over 4%

Kalpataru IPO listing date: Kalpataru share price made a muted debut on the bourses today. On NSE, Kalpataru share price opened at ₹414 per share, same as the issue price. On BSE, Kalpataru share price share price today opened at ₹414.10 apiece, up 0.02% than the issue price.

Shares of the real estate developer Kalpataru Ltd made its debut in the Indian stock market today. Kalpataru IPO listing was scheduled at 10:00 IST on the bourses today (Tuesday, July 1). Kalpataru shares was part of Special Pre-open Session (SPOS), as per BSE notice. Experts predicted that the Kalpataru IPO expected listing price was likely to see slight gains compared to its issue price. Kalpataru IPO allotment status was finalised on Friday, June 27.

Ahead of the listing, Kalpataru IPO GMP today is +1.5. This indicates Kalpataru share price was trading at a premium of ₹1.5 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Kalpataru share price is indicated at ₹415.5 apiece, which is 0.36% higher than the IPO price of ₹414.

Kalpataru IPO opened for subscription on Tuesday, June 24, and closed on Thursday, June 26. Kalpataru IPO subscription status on the last bidding day was 2.26 times. The company fixed a price band of ₹387 to ₹414 per share for its IPO.

Kalpataru, based in Mumbai, specializes in the construction of residential, commercial, retail, and integrated township developments. The company is also involved in the redevelopment of housing societies.

As one of the top real estate developers in India, Kalpataru holds a prominent position in the Mumbai Metropolitan Region (MMR) in Maharashtra.

The stock was trading at ₹431.80 per share on NSE, marking a 4.30% increase at 11:00 IST, and at ₹431.50 per share on BSE, showing a 4.32% rise.

“While the pricing seems reasonable and supported by long-term fundamentals, the upside at listing is likely to be modest. Investors may consider booking partial gains on listing, while those with a longer-term outlook may choose to hold, especially if they have confidence in the company’s capacity to monetize its order book efficiently,” said Mahesh M. Ojha of Hensex Securities Pvt. Ltd.

Kalpataru share price made a muted debut on the bourses today. On NSE, Kalpataru share price opened at ₹414 per share, same as the issue price. On BSE, Kalpataru share price share price today opened at ₹414.10 apiece, up 0.02% than the issue price.

Mahesh M. Ojha, AVP Research & Business Development, Hensex Securities Pvt. Ltd, said that Kalpataru shares is expected to list with marginal gains over its issue price. The company has a credible track record in the infrastructure and EPC space, with a diversified order book and international presence. However, concerns around execution timelines and sectoral headwinds may cap immediate enthusiasm on listing day. While the pricing seems reasonable and supported by long-term fundamentals, the upside at listing is likely to be modest.

Gaurav Goel, Founder & Director at Fynocrat Technologies noted that Kalpataru IPO saw a lukewarm response, with an overall subscription of just 2.31 times, showing that investors were cautious. Retail investors subscribed 1.43 times, QIBs showed slightly more interest at 3.12 times, and the NII category was subscribed 1.40 times. There is no active grey market premium, which means the stock may not see much gain when it lists.

The IPO being offered by the company consists solely of a new issuance of equity shares valued at ₹1,590 crore, without any offer-for-sale (OFS) element. The funds raised will be allocated towards debt repayment and general corporate needs.

ICICI Securities Limited serves as the book-running lead manager for the Kalpataru IPO, while MUFG Intime India Private Limited (Link Intime) has been appointed as the registrar for the offering.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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