₹483 to ₹486 per equity share
- Issue Type: Book Built Issue
- Min Order Qty: 30 Shares
Macrotech Developers Ltd, earlier known as Lodha Developers, is gearing up to launch its Rs2,500 crore initial public offering (IPO) on 7 April, 2021.
The company has presence in India and the United Kingdom. LODHA Group is the No.1 real estate company in India. The Group is developing an estimated 33.8 million sq ft of the prime real estate with large land reserves in the Mumbai Metropolitan Region (MMR).
They have 37 ongoing projects across Mumbai, Pune, and London. They have a large land reserve of over 4,450 acres with an estimated saleable area of 385 million sq ft as of December 31, 2017.
Objects of the Issue:
The IPO aims to raise money for the following purposes;
- To reduce aggregate outstanding borrowings of the company on consolidated basis.
- To acquire land or land development rights.
- To meet general corporate purposes.
- Largest residential real estate developer in India.
- Strong sales distribution network across India as well as NRI markets i.e. GCC, UK, Singapore, and US.
- Brand equity and premium pricing.
- Strong project execution capabilities.
- Experienced management team.
Abhishek Mangal Prabhat Lodha, Rajendra Narpatmal Lodha, Sambhavnath Infrabuild and Sambhavnath Trust are the company promoters.