Kalpataru Aims for Deleveraging with Firm Cash, IPO Proceeds

Real estate firm Kalpataru is aiming to deleverage its balance sheet by using the proceeds of its upcoming ₹1,590 crore initial public offering (IPO), the firm's existing cash balance, and estimated future cash flow generated via sales, the company said.

- PRACHI PISAL

Kalpataru's net debt is around ₹10,120.52 crore as of December 31, 2024. Its debt-to-equity ratio is around 3.7x, which it expects to go down below 2x after the fundraise. Of ₹1,590 crore that the company aims to raise via IPO, which opens on June 24, ₹1,192.5 crore will be utilised for repayment of its borrowings.