Kalpataru issues list flat at IPO price on NSE, analysts advise buy, sell or take the wait and watch approach
The Kalpataru shares were listed recently on the National Stock Exchange (NSE) on 1 July at the same price of the IPO of Rs. 163. At the primary market, the share was subscribed more than 2.26 times.
At the NSE, Kalpataru shares were at par with its issue price as they were listed as Rs 414 per share. This initial public offer (IPO) was Rs 1,590-crore with the price band between Rs 387 to 414 per share. The overall market cap of company after listing of shares was Rs 8,524.84 crore
The stock of the company traded flat at a premium of 0.02 percent at Rs. 414.10 on the BSE as well.
Qualified Institutional Buyers (QIBs) category was subscribed by 3.12 and the lot of non-institutional investors was subscribed by 1.31. The Retail Individual Investors (RIIs) section was subscribed 1.29 times.
has a diversified order book and operations in other countries, having helped build infrastructure and EPC space. Yet, both the execution schedule and industry headwinds are issues that could limit enthusiasm on the listing date. Investors will have to consider these as partial gains on listing but those who have a long-term view can hold them, added this analyst, especially when they believe that a company has the ability to monetise its order book effectively.
Kalpataru is the Mumbai-based company involved in residential and commercial projects development and projects on retail stores and integrated townships. It also lies in regeneration of the societies. Kalpataru is a major real estate developer in the country having respectable operations in the Mumbai Metropolitan Region (MMR) in the state of Maharashtra.
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