India's Kalpataru gains nearly 4% in trading debut

Kalpataru

01/07/2025 08:49

** Indian real estate developer Kalpataru KALT.NS climbs 3.7% to 429.35 rupees on first day of trading

** Stock opened flat at issue price of 414 rupees; co valued at 88.42 billion rupees ($1.03 billion) as of 1:01 p.m. IST

** The 15.9-billion-rupee ($185.73 million) IPO was subscribed 2.26 times

** Qualified institutional buyers' portion subscribed more than three times, while retail investors portion subscribed 1.29 times

** Proceeds from the issue to be used for repayment of debt, general corporate purposes

** IPO consists solely of fresh issue of shares

($1 = 85.6060 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)

 ((Manvi.Pant@thomsonreuters.com; +918447554364;))