The Calvin cycle or $C_{3}$ cycle proceeds in three stages (1) carboxylation, during which $CO_{2}$ combines with ribulose $-1$, $5$-bisphosphate; $(2) $ reduction, during which carbohydrate is formed at the expense of the photochemically made ATP (two molecules) and NADPH (two molecules) and (3) regeneration during which the $CO_{2}$ acceptor ribulose-1, 5-bisphosphate is formed again so that the cycle continues. The regeneration step requires one ATP for phosphorylation to form RuBP