Indian real estate firm Kalpataru Ltd files for an IPO of up to ₹1,590 crore, targeting debt reduction.

Kalpataru Ltd, an Indian real estate firm, filed draft papers with SEBI for its initial public offering (IPO) aiming to raise up to ₹1,590 crore, primarily for debt reduction. The Mumbai-based company plans to use around ₹1,192.5 crore for repayment/prepayment of certain borrowings. ICICI Securities, JM Financial, and Nomura Financial Advisory and Securities (India) are the Book Running Lead Managers for the IPO, while Link Intime India is the IPO registrar.

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