Kalpataru IPO
Kalpataru Limited (KALPATARU) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 01 July 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -0.5% (likely range -9% to +9%), day's high +3.0%, chance of a gain 49%. Actual: 0.0% at the open, +9.4% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,22,02,326 | 3,80,15,100 | 3.12x | |
| NII (HNI) total | 61,01,162 | 79,72,380 | 1.31x | |
| Big NII (above ₹10 lakh) | 40,67,442 | 64,26,900 | 1.58x | |
| Small NII (₹2-10 lakh) | 20,33,720 | 15,45,480 | 0.76x | |
| Retail | 40,67,441 | 52,66,728 | 1.29x | |
| Employees | 4,55,587 | 3,19,968 | 0.70x | |
| Total | 2,28,26,516 | 5,15,74,176 | 2.26x |
Bids on NSE and BSE together, as published by NSE, as of 26 Jun 2025, 07:00 PM. Shares offered exclude the anchor portion. 9% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Kalpataru's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Juniper HotelsFeb 2024 | 2.96x | 0.85x | 1.28x | 2.08x | ₹1,895 Cr | +1.4% | +11.5% |
| Paradeep PhosphatesMay 2022 | 3.01x | 0.82x | 1.37x | 1.75x | ₹1,637 Cr | +4.8% | +12.5% |
| Fedbank Financial ServicesNov 2023 | 3.51x | 1.45x | 1.82x | 2.20x | ₹1,105 Cr | -1.4% | +5.9% |
| Sula VineyardsDec 2022 | 4.13x | 1.51x | 1.65x | 2.33x | ₹960 Cr | +1.1% | +1.8% |
| UTI Asset Management CompanyOct 2020 | 3.34x | 0.93x | 2.32x | 2.31x | ₹2,160 Cr | -9.8% | -4.3% |
| CMS Info SystemsDec 2021 | 1.98x | 1.45x | 2.15x | 1.95x | ₹1,159 Cr | +1.9% | +20.2% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| ICICI Securities | 109 | +21.3% | 69% |
| JM Financial | 109 | +22.8% | 75% |
| Nomura Financial Advisory and Securities (India) | 27 | +16.0% | 56% |
Offer documents (NSE)
Frequently asked
What is the Kalpataru IPO price band and lot size? ₹387–414 per share, with a lot of 36 shares, so the smallest retail bid is ₹14,904.
How many times has it been subscribed? 2.26x overall: QIB 3.12x, NII 1.31x, retail 1.29x, employees 0.70x.
How did it list? It opened at ₹414, +0.0% against the issue price of ₹414, and closed its first day +4.6%.
