Realty firm Kalpataru Ltd files draft papers to raise Rs 1,590 cr via IPO

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Realty firm Kalpataru Ltd files draft papers to raise Rs 1,590 cr via IPO - Business Standard

Quick Summary:

The Mumbai-based company has filed the draft red herring prospectus (DRHP) to launch its IPO, which comprises fresh issue of shares, having face value of Rs 10 each, aggregating up to Rs 1,590 crore.It would use Rs 1,192.5 crore for repayment/prepayment, in full or in part, of certain borrowings.

"We are an integrated real estate development company involved in all key activities associated with real estate development, including the identification and acquisition of land (or development rights thereto), planning, designing, execution, sales, and marketing of our projects," the DRHP said.

Real estate firm Kalpataru Ltd has filed draft prospectus with market regulator SEBI to launch its initial public offering (IPO) for raising up to Rs 1,590 crore, mainly to reduce debt.