Kalpataru Gets SEBI Nod for Rs 15.90 billion IPO

27 Nov 2024 CW Team

Real estate firm Kalpataru and Unimech Aerospace and Manufacturing have received approval from Sebi to raise funds through initial public offerings (IPOs), according to an update from the markets regulator on Monday. Kalpataru and Unimech Aerospace aim to raise Rs 15.90 billion and Rs 5 billion, respectively, through their initial share sale offers.

The two companies, which had submitted their preliminary papers to the markets regulator in August, received observations between November 21 and 22, the update indicated. In Sebi's terms, receiving the observations signifies its approval to launch the public issues.

The draft papers revealed that Mumbai-based Kalpataru's IPO consists of a fresh issue of shares worth up to Rs 15.90 billion. Of this, Rs 11.92 billion will be used for debt repayment.

Kalpataru is part of the Kalpataru group, which also includes Kalpataru Projects International, Property Solutions (India), and Shree Shubham Logistics.

Bengaluru-based Unimech Aerospace's proposed IPO is a combination of a fresh issue of equity shares valued at Rs 2.50 billion and an offer for sale (OFS) of up to Rs 2.50 billion by the promoter and the promoter group, as per the draft red herring prospectus (DRHP). The offer also includes a reservation for subscriptions by eligible employees.

The funds raised from the fresh issue will be allocated towards expansion, including the purchase of machinery and equipment, funding working capital, investing in its material subsidiary, paying off debt, and for general corporate purposes.

Unimech Aerospace is a high-precision engineering solutions company specializing in complex manufacturing for the aerospace, defence, energy, and semiconductor industries.

Infrastructure Transport

15 Oct 2025

BMC Gets CRZ Nod For Rs 40 Million Gorai Bridge Rebuild

The Brihanmumbai Municipal Corporation (BMC) has secured Coastal Regulation Zone (CRZ) clearance for the reconstruction of the Poisar River bridge in Gorai, located in Mumbai’s western suburbs. However, the proposed demolition of the existing 100-metre bridge has sparked opposition from local residents, who claim it serves as the only direct access route between the Lower and Upper Koliwada areas. The three-decade-old bridge, situated within the CRZ buffer zone, was recently declared structurally unsafe following a civic audit. The BMC has sanctioned its reconstruction at an estimated cost ..

NHAI Completes Rs 15.9 Billion Four-Lane Stretch On ECR

The National Highways Authority of India (NHAI) has completed the four-laning of the 38 km Puducherry–Poondiyankuppam stretch, ending near Cuddalore, in a development that will cut travel time by up to two hours, according to a report by The New Indian Express. The upgraded section, built at a cost of Rs 15.9 billion under the Bharatmala Pariyojana Phase I, marks a major milestone in the ongoing East Coast Road (ECR) widening programme. The project promises a smoother, faster drive for motorists travelling towards Cuddalore, Chidambaram, Sirkazhi, and Nagapattinam. With this completion, 22..

Encroachments Delay Rs 1 Billion Ghatkopar Bridge Project

The construction of a new cable-stayed rail overbridge at Ghatkopar and the widening of the Andheri–Ghatkopar Link Road (AGLR) have been delayed due to the presence of nearly 250 encroached structures on both sides of the road. In response, Municipal Commissioner Bhushan Gagrani has directed officials to carry out a structural audit of the existing bridge over the railway line and enforce temporary restrictions on heavy vehicles to ensure public safety. The bridge, which starts at the Golibar Road junction near LBS Marg and extends up to the Eastern Express Highway (EEH), serves as a critic..