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Business News/ Money / Personal-finance/  Kalpataru files papers for Rs1000 cr IPO
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Kalpataru files papers for Rs1000 cr IPO

Kalpataru files papers for Rs1000 cr IPO

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Mumbai: Property developer Kalpataru Ltd said on Monday it has filed initial papers with market regulator Securities Exchange Board of India (Sebi) for an initial public offering (IPO) to raise Rs1008 crore.

The firm plans to raise Rs200 crore via a pre-IPO placement and may consider alloting certain shares to anchor investors, it said.

Kalpataru, founded by promoters of Kalpataru Power Transmission intends to finance project construction and development costs, invest in land via its group firm Ananta Landmarks and repay existing loans, it said.

The firm has proposed to reserve up to 50% of the issue size for qualified institutional investors, while minimum 35% will be made available for retail investors and minimum 15% to non-institutional investors, it said.

Morgan Stanley, Citi, Collins Stewart Inga, ICICI Securities, IDFC, Nomura are the book running lead managers for the issue.

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Published: 27 Sep 2010, 02:09 PM IST
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