The initial public offering (IPO) of Kalpataru Projects International Ltd. reached 86% overall subscription by Day 3 (June 26, 2025), which is also the last day for bidding.

While the Qualified Institutional Buyers (QIB) and Non-Institutional Investors (NII) segments saw lukewarm participation, the retail category was fully booked, showing strong confidence among individual investors.

This mixed response indicates investor caution amid broader market volatility, even as the company's fundamentals appear sound.

IPO Subscription Status (As of Day 3, 4:30 PM)

Analysts believe that QIB participation could pick up in the final few hours or just before closing, which often happens in large infrastructure IPOs.

Kalpataru IPO GMP Today

As per market sources, the Grey Market Premium (GMP) for Kalpataru Projects IPO is currently in the range of ₹18–₹22 per share.

This translates to an expected listing premium of 7–10% over the issue price, though actual gains will depend on market conditions and final QIB interest.

Note: GMP is unofficial and should not be the sole criterion for applying.

IPO Details Snapshot

About Kalpataru Projects International Ltd.

Kalpataru Projects is a leading EPC (Engineering, Procurement, and Construction) company engaged in power transmission, railways, oil & gas pipelines, and civil infrastructure projects across India and globally.

With a strong order book and execution track record, the company aims to utilize IPO proceeds for:

• Debt reduction

• Working capital needs

• General corporate purposes

Should You Apply?

Analysts say the IPO valuation is reasonable compared to peers, and the company’s diversified order book and international exposure provide stability.

However, investors should:

• Evaluate QIB participation by EOD.

• Track final GMP trends.

• Consider personal risk appetite before investing.

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  Disclaimer: This article is for informational purposes only and should not be considered financial advice. Investors are advised to consult with certified financial advisors and read all documents carefully before making investment decisions. Market conditions are subject to change.

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