Real estate firm Kalpataru Limited has filed draft papers with SEBI to raise ₹1,590 crore through an IPO.
The company plans to use ₹1,192.5 crore of the proceeds to repay and prepay certain borrowings. Kalpataru, part of the Kalpataru Group, is an integrated real estate developer with a portfolio of 40 projects covering 49.77 million sq ft, primarily in the Mumbai Metropolitan Region and Pune. ICICI Securities, Nomura, and JM Financial are the lead managers for the IPO.