Macrotech Developers Ltd, formerly known as Lodha Developers, plans to launch an initial public offering (IPO) on April 7 for Rs 2,500 crore. On April 9, the three-day share sale will come to an end. The IPO'of Lodha Developers is scheduled to be issued on April 16, 2021, and the stock is expected to debut on April 22. The IPO's lot size will be 30 shares, with a price of Rs 14,580 per share. For Rs 1,89,540, a limit of 13 lots containing 390 shares can be purchased. The firm's promoters own 100% of the company and intend to sell 10% of the company via the IPO. During the IPO, they will issue 51,440,328 equity shares of Rs 10 each.
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Apr 7, 2021
|IPO Closing Date||
Apr 9, 2021
Book Built Issue IPO
?10 per equity share
|Price of IPO||
?483 to ?486 per equity share
51,440,328 Eq Shares of ?10
Macrotech Developers [Formerly known as Lodha Developers] was founded in 1995 and is India's largest real estate developer. The company's primary industry is the construction of the affordable residential real estate, but it also develops logistics and industrial parks, as well as commercial real estate. Some of its affordable and mid-income housing projects include Palava (Navi Mumbai, Dombivali Region), Upper Thane (Thane outskirts), Amara (Thane), Lodha Sterling (Thane), Lodha Luxuria (Thane), Crown Thane (Thane), Bel Air (Jogeshwari), Lodha Belmondo (Pune), Lodha Splendora (Thane), and Casa Maxima (Miraroad). This segment generates the most revenue for the company, accounting for 57.77 percent of total revenue in fiscal 2020.
It plans to build an industrial park with over 800 acres of land near Palava as part of its logistics and industrial park portfolio. Corporate headquarters, IT campuses, and boutique office spaces are among the developments in the commercial real estate portfolio. As of December 31, 2020, the organisation had completed 91 projects totaling 77.22 million square feet of developable land, including 59.13 million square feet of affordable housing.
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