AZB & Partners acted as legal counsel to ICICI Securities Limited, JM Financial Limited, and Nomura Financial Advisory and Securities (India) Pvt Ltd, the Book Running Lead Managers (BRLMs), in the ₹1,590 crore initial public offering of Kalpataru Limited. The IPO comprised a fresh issue of 38,444,611 equity shares and was completed on June 27, 2025.
The firm’s advisory team included partners Varoon Chandra, Lionel D’Almeida, and Rahul Aggarwal, along with senior associates Bharat Mordani and Shweta Agarwal.
| No. | Headings | Details |
| Practice Area | Capital Markets | |
| Sector | Real Estate | |
| Signing Date | June 27, 2025 (Date of allotment) | |
| Public Announcement | Press Release: a. SEBI | Kalpataru Limited – RHP
News Articles:
| |
| Completion Date | June 27, 2025 (Date of allotment) | |
| Client/Acquirer | ICICI Securities Limited, JM Financial Limited and Nomura Financial Advisory and Securities (India) Private Limited (the “Book Running Lead Managers”) | |
| Target | Kalpataru Limited (“Issuer”) | |
| Headquarters of Target’s Ultimate Parent Company (location country) | India | |
| Deal Description
| Initial public offering comprising a fresh issuance of 38,444,611 equity shares of face value of ₹ 10 each (“Equity Shares”) aggregating up to ₹15,900 million. | |
| Role of the Firm | AZB & Partners advised the Client | |
| Total Consideration (approx. USD/ EUR & INR values in million) | INR 15.9 Bn /USD 184.70 Mn
| |
| Concerned Partners | Varoon Chandra, Lionel D’Almeida and Rahul Aggarwal | |
| Concerned Senior Associates | Bharat Mordani and Shweta Agarwal |