Kalpataru files IPO papers with SEBI

Mumbai based Kalpataru is planning to enter capital markets with an initial public offering (IPO) of equity shares of face value Rs 10 each to be aggregating up to Rs 10,080 million at a price to be decided via 100% book building process. It has already filed a draft red herring prospectus with market regulator, The Securities and Exchange Board of India (SEBI) for the same.

Morgan Stanley India Company, Citigroup Global Markets India, Collins Stewart Inga, IDFC Capital, Nomura Financial Advisory and Securities (India), Link Intime Indiaare helping the company in the fund raising process.

Apart from the general corporate purposes, the funds used would be deployed to finance the construction and development costs of certain of our projects; b) Invest in its associate, Ananta Landmarks (P) for acquisition of land and land development rights; and repay certain of its existing loans.

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