The Securities and Exchange Board of India (Sebi) has granted approval for two major companies, Kalpataru Ltd and Unimech Aerospace and Manufacturing Ltd, to raise funds through initial public offerings (IPOs). Together, these companies are aiming to raise a combined ₹2,090 crore. Kalpataru Ltd, a prominent real estate company based in Mumbai, plans to raise ₹1,590 crore through its IPO. The public offering will consist entirely of fresh equity shares, with the company earmarking a substantial portion—₹1,192.5 crore—of the proceeds to reduce its outstanding debt.
Kalpataru, which operates under the larger Kalpataru Group, is known for its residential, commercial, and infrastructure projects across India. Along with Kalpataru Ltd, the group also operates through subsidiaries like Kalpataru Projects International, Property Solutions (India), and Shree Shubham Logistics. The IPO approval comes after Kalpataru filed its preliminary prospectus with Sebi in August 2024, receiving the regulator’s go-ahead for the offer in late November. The company intends to list its shares on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). On the other hand, Unimech Aerospace, a Bengaluru-based company specialising in precision engineering solutions for sectors such as aerospace, defence, and energy, aims to raise ₹500 crore through its IPO. The offer comprises ₹250 crore through a fresh issue of equity shares and another ₹250 crore through an offer for sale (OFS) by the promoters and the promoter group.
In addition, a portion of the offer is reserved for eligible employees. The funds raised will be utilised for a variety of purposes, including the purchase of machinery, meeting working capital requirements, and expanding its material subsidiary. Unimech Aerospace’s IPO, like Kalpataru’s, will be listed on the BSE and NSE. This move underscores the company’s ambition to strengthen its position as a key player in the high-precision engineering space, catering to the aerospace, defence, energy, and semiconductor industries. The company aims to enhance its infrastructure and capacity with the proceeds from the IPO. Both companies’ IPOs represent a significant step towards public market listings, reflecting their growth ambitions and confidence in the Indian economy. As Sebi’s approval paves the way for the launch of these offerings, investors can look forward to new investment opportunities in the real estate and high-tech manufacturing sectors.
