Kalpataru shares listed flat at the IPO price on the National Stock Exchange (NSE) on July 1, following a subscription of 2.26 times in the primary market.
Shares of Kalpataru were listed at Rs 414 per share on the NSE, at par with its issue price. The Rs 1,590-crore initial public offer (IPO) had a price band of Rs 387–414 per share. The total market cap of the company post listing of shares stood at Rs 8,524.84 crore.
On the BSE too, the shares of the company listed flat at Rs 414.10 per share, a premium of 0.02 percent.
The shares of the company settled at Rs 432.3 per share on the NSE, up 4.42 percent.
The Qualified Institutional Buyers (QIBs) category received 3.12 times subscription, while the portion for non-institutional investors got subscribed 1.31 times. The Retail Individual Investors (RIIs) part received 1.29 times subscription.
Kalpataru shares: What investors should do? Here's what market experts say
Kalpataru shares: Should you buy, sell or hold?
Mahesh M. Ojha, Hensex Securities Pvt. Ltd. at AVP Research & Business Development, noted 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. "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," he added.
Mumbai-based Kalpataru focuses on the development of residential, commercial, retail and integrated township projects. It is also in the redevelopment of societies. Kalpataru is one of the leading real estate developers in the country with a significant presence in the Mumbai Metropolitan Region (MMR) in Maharashtra.
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