Kalpataru IPO allotment status: Check application, latest GMP & listing date

Kalpataru is scheduled to finalize the basis of allotment of its shares on Friday, June 27. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either by weekend or latest by Monday, June 30. The real estate player saw a tepid response from the investors.

The IPO of Kalpataru was open for bidding between June 24 and June 26. It had offered its shares in the price band of Rs 387-414 per share with a lot size of 36 shares. The company raised a total of Rs 1,590 crore from its IPO, which was entirely a fresh share sale of 3,84,05,797 equity shares.

The issue was overall subscribed a mere 2.26 times, fetching nearly 1.20 lakh applications. The portion for qualified-institutional bidders (QIBs) was subscribed a only 3.12. The portion for non-institutional investors (NIIs) and retail investors were subscribed only 1.31 times and 1.29 times, respectively. Employee portion was under subscribed with only 70 per cent bids.

The grey market premium (GMP) of Kalpataru has seen a sharp correction following a lacklustre bidding and mixed market sentiments. Last heard, the company was commanding a premium of merely Rs 3 per share in the unofficial market, suggesting a flat listing for the investors. The GMP stood around Rs 11 before the bidding kicked-off.

Founded in 1988, Mumbai-based Kalpataru is a real estate development company, which specialises in developing residential and commercial properties, retail spaces, and integrated townships across several Indian cities, including Mumbai, Thane, Panvel, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur.

ICICI Securities, JM Financial, Nomura Financial Advisory and Securities (India) are the book running lead managers of the Kalpataru IPO, while MUFG Intime India (Link Intime) is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE on Tuesday, July 01.

Investors, who had bid for the issue of Kalpataru, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Kalpataru Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of MUFG Intime India (https://in.mpms.mufg.com/Initial_Offer/public-issues.html), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.

1) Go to the web portal of MUFG Intime India Limited

2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.