Macrotech developers aim to raise Rs 2,500 crore through IPO; The real estate firm issue opens April 7

Shares of the real estate firm, formerly known as Lodha Developers, will be offered in the price band of Rs 483-486; The proceeds from the IPO will be used to pay Rs 1,500 crore as well as land acquisition and other corporate expenses.

Macrotech Developers Limited, formerly known as Lodha Developers, is set to open its initial public offering (IPO) in early April. The Mumbai-based company plans to raise Rs 2,500 crore through it. The share price will be around 483–486. The issue will remain open until April 9.

One can bid for a minimum of 30 equity shares at around Rs 14,580. There are reservations 50 percent For eligible institutional buyers (QBs), 15 per cent of net points are reserved for private investors and the remaining 35 per cent for the retail sector. Financial Express.

A Good report Inside Hindu Businessline, SEBI last month approved the IPO of Macrotech developers. The agency filed a draft Red Herring Prospectus (DRHP) on 16 February.

Macrotech has appointed 10 companies as directors in the issue. Axis Capital Ltd., Kotak Mahindra Capital Company Ltd. and JP Morgan India Pvt. Ltd. and will handle the matter worldwide. On the domestic front, the IPL will be controlled by Edelweiss, JM Financial, IIFL Securities, Yes Securities, ICICI Securities, SBI Capital and BOB Capital.

The real estate company plans to repay Rs 1 crore through an IPO and will spend about Rs 33,375 crore on land acquisition and other corporate expenses.

In the past, the company has tried to launch its IPO twice. In September 2009, it tried to raise Rs 2,600 crore, but had to cancel due to the global recession. The IPO was re-launched in 2018 but it took refuge in the unfavorable situation in the market.

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