Kalpataru shares trade at 2% GMP ahead of issue opening. Key things to know
ADVERTISEMENT The grey market premium (GMP) represents the price at which shares of an upcoming IPO are trading in the informal, unofficial market prior to their listing on a stock exchange. A high or positive GMP typically signals strong investor interest and suggests that the stock may debut at a price above its issue price.
Conversely, a zero or negative GMP points to weak demand and raises the possibility of the stock listing at a discount.
However, it is important to note that GMP is not regulated by SEBI or any stock exchange. It is driven purely by market sentiment and does not guarantee the actual listing price.
About Kalpataru IPO
The Rs 1,590 crore IPO of Kalpataru Projects International is a pure fresh issue, with no offer-for-sale (OFS) component. As a result, the entire proceeds from the offering will go directly to the company to support debt reduction and business expansion. The basis of allotment is expected to be finalised on June 27, with a tentative listing scheduled for July 1 on both the BSE and NSE.
ADVERTISEMENT Retail investors can apply for a minimum of one lot comprising 36 shares, requiring an investment of Rs 13,932 at the floor price and Rs 14,904 at the cap price. Small non-institutional investors must bid for at least 14 lots (504 shares), amounting to Rs 2,08,656, while large non-institutional investors are required to apply for 68 lots (2,448 shares), which translates to an investment of Rs 10,13,472.As per the Red Herring Prospectus, Kalpataru Projects International plans to utilise Rs 1,192.5 crore of the net proceeds from the IPO for the repayment or prepayment of borrowings at both the company and subsidiary levels. The balance amount will be allocated towards general corporate purposes.
ADVERTISEMENT Kalpataru IPO key datesThe issue will open on Tuesday, June 24 and will close for public bidding on June 26. The allotment of shares is likely to take place on June 27, and the shares of the company are proposed to be listed on NSE and BSE on July 1.
About Kalpataru Ltd
ADVERTISEMENT Founded in 1988, Kalpataru Limited is a part of the Kalpataru Group and is engaged in the development of residential, commercial, and retail properties, including integrated townships. The company has successfully delivered 70 projects and is currently executing 40 ongoing developments across key cities such as Mumbai, Pune, Hyderabad, Bengaluru, and Indore.The broader Kalpataru Group ecosystem includes infrastructure and logistics arms like Kalpataru Projects International and Shree Shubham Logistics, enabling strategic synergies across the real estate value chain.
Kalpataru Projects International reported a profit after tax of Rs 5.51 crore for the nine months ended December 2024, marking a turnaround from a loss of Rs 116.51 crore in FY24 and Rs 229.43 crore in FY23. During the same nine-month period, the company recorded revenue of Rs 1,699 crore.
ADVERTISEMENT As of December 31, 2024, Kalpataru's total borrowings stood at Rs 11,056 crore, while its total assets amounted to Rs 15,562 crore, according to disclosures in the company's filings.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
19 minutes ago
- Economic Times
Titan shares in focus after Q1 update as consumer business grows 20% YoY and 10 new stores added
Titan Company saw a 20% year-on-year growth in its consumer business for Q1FY26. The company added 10 stores, expanding its network to 3,322 outlets. Synopsis Titan Company's shares are in focus following a reported 20% YoY growth in its consumer business for Q1FY26. Domestic jewellery operations saw an 18% increase, though gold price volatility impacted consumer sentiment. Watch business experienced a strong 23% YoY growth, while EyeCare grew by 12%. International business surged by approximately 49%, driven by Tanishq's expansion in the US market. Shares of Titan Company will be in focus on Tuesday after the lifestyle major reported a 20% year-on-year (YoY) growth in its consumer business for Q1FY26, along with a net addition of 10 stores, expanding its retail network to 3,322 outlets. ADVERTISEMENT The company's domestic jewellery operations grew 18% YoY, although consumer sentiment was impacted by gold price volatility during the quarter. While the Akshaya Tritiya period saw good traction, the increase in gold prices from May till mid-June, saw some softening in customer purchases, a company filing to the exchanges said. Buyer growth was flat (YoY) for both TMZ and CaratLane. In the high gold rate scenario, customers preferred light weight and lower karatage jewelry. "The studded ratio came in lower YoY driven by the differential growths across segments (in TMZ), with coins continuing to lead strongly, plain gold growing in mid-teens and studded segment growth coming in early double digits. The like-to-like (L2L) domestic sales growth in TMZ were in early double digits, driven entirely by ticket size growth across formats, and the L2Ls in CaratLane were in healthy double-digits. Of the 19 new store additions (net) in India, 3 were in Tanishq, 7 in Mia and 9 in CaratLane respectively," the filing said. Also Read: Street favourite! 10 BSE large-cap stocks analysts expect to rally up to 70% ADVERTISEMENT Watches domestic business clocked a strong quarter of 23% YoY growth led by analog driven by both volume and value growth. Sonata with its refreshed offerings led the growth charts for the quarter, closely followed by Titan and well supported by Fastrack and International brands, all clocking healthy double-digit growths. The division added 9 new stores (net) consisting of 4 stores in Titan World and 5 in Helios respectively. ADVERTISEMENT EyeCare's domestic business grew 12% YoY led by performances across Retail and E-commerce, by both International and House brands. Titan Eye+ retail opened 12 new doors and closed 32 stores resulting in 20 domestic store closures (net) for the quarter. ADVERTISEMENT In the Emerging Businesses (domestic), Fragrances grew 56% YoY led by volume growths in SKINN and Fastrack, Women's Bags grew c.61% YoY and Taneira grew 15% YoY driven by value growth in International Business grew c.49% YoY led by near doubling of Tanishq's business in the US market. The 1 new store addition (net) in the quarter consisted of Tanishq and Titan Eye+'s one new store opening (each) in UAE in Dubai and Sharjah respectively and closure of 1 Mia store in the consumer discretionary major had reported 13% growth in its consolidated net profit at Rs 871 crore in the fourth quarter, compared with Rs 771 crore in the year-ago quarter. Total income during the reporting period increased 22% YoY to Rs 14,049 crore. ADVERTISEMENT Also Read: 10 Nifty smallcap stocks analysts expect to rally up to 72% (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
28 minutes ago
- Time of India
Telangana HC clears businessman in Rs 40L Deccan Club fraud case in Secunderabad
HYDERABAD: The Telangana high court has quashed criminal proceedings against a West Bengal-based businessman who was named as one of the prime accused in a financial fraud case involving the Deccan Club in Secunderabad. The case, registered in 2017 at Tukaramgate police station, revolved around the alleged misappropriation of approximately 40 lakh by former staff members of the club, including the system administrator and the accountant. The accused were alleged to have manipulated the club's accounting software to divert cash payments made by members, effectively siphoning off funds that were never reflected in the club's accounts. The businessman, who had no official or managerial role in the club, was named in the chargesheet solely on the basis of a confession by another accused, who claimed he had received a portion of the embezzled funds. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad In her ruling, Justice K Sujana observed that there were no specific, direct, or credible allegations tying the petitioner to the misappropriated funds. The chargesheet, she noted, contained contradictions, including uncertainty over whether the funds were received by the petitioner himself or his father-in-law. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Abiti in una casa indipendente? Ecco perché installare una pompa di calore Aira Scopri di più Citing lack of prima facie evidence and speculative assertions, the court concluded that continuing the proceedings would constitute an abuse of the legal process. Accordingly, the judge quashed all charges against the petitioner and closed the pending miscellaneous applications related to the matter. According to the prosecution, the petitioner allegedly used the diverted money to purchase heavy vehicles. However, the defense argued that the petitioner was wrongfully implicated, and there was no direct link between him and the financial operations of the club. The fraud came to light during an internal audit, which exposed how the accused insiders cancelled original cash payment entries in the system and re-entered them as credit or debit card transactions. This tactic created a false reconciliation of accounts while ensuring that actual cash never reached the club's coffers.
Economic Times
29 minutes ago
- Economic Times
Mphasis, 6 other stocks to trade ex-dividend tomorrow. Last opportunity to buy for benefit
Several companies, including Mphasis and Pfizer, will begin trading ex-dividend on Wednesday. July 9 is the record date for dividend eligibility. Mphasis, Pfizer, and other companies will trade ex-dividend starting Wednesday, with July 9 as the record date. To receive dividends, investors must purchase shares by today's trading session. The record date determines shareholder eligibility for dividend payouts. Following the T+1 settlement, the record and ex-date are typically the same. Tired of too many ads? Remove Ads What does a record date mean? Tired of too many ads? Remove Ads Why to buy one day before the record date? Which companies go ex-dividend on Wednesday? Mphasis has declared a final dividend of Rs 57 per share Pfizer has announced a final dividend of Rs 35 per share and a special dividend of Rs 130 per share Elegant Marbles & Grani Industries declared a final dividend of Rs 1 per share Johnson Controls – Hitachi Air Conditioning India announced an interim dividend of Rs 36 per share Kabra Extrusiontechnik will pay a final dividend of Rs 2.5 per share SJS Enterprises will distribute a final dividend of Rs 2.5 per share (25%). SML Isuzu declared a final dividend of Rs 18 per share The shares of a few companies like Mphasis and Pfizer , among others, will start trading on an ex-dividend basis from Wednesday, as the board of these companies had previously announced July 9 as the record date for the purpose of determining shareholder means that investors who wish to gain from the dividends of these companies should buy the shares of these companies by the end of today's trading session, so as to qualify for record date for a dividend is the cut-off date set by a company to determine which shareholders are eligible to receive the dividend. Only those who hold the company's shares on or before the record date are entitled to receive the dividend an investor buys the shares after the record date, they will not receive the dividend. To be eligible, investors typically need to purchase the shares at least one trading day before the ex-dividend date, which is usually set one or two days before the record the implementation of the T+1 framework, the record date and ex-date are the same in most cases unless there is a market holiday after the T+1 settlement system in the Indian stock market means that a trade is settled one business day after the trade date (T). So, if you buy or sell a stock on Monday (T), the settlement — i.e., transfer of shares and money — will be completed on Tuesday (T+1).: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
