Lodha IPO: Macrotech Developers to launch Rs 2,500 cr IPO
  1. Home
  2. Real Estate
  3. Lodha IPO: Macrotech Developers to launch Rs 2,500 cr IPO
Real Estate

Lodha IPO: Macrotech Developers to launch Rs 2,500 cr IPO

01 Apr 2021 Editorial Team
Lodha Group's real estate arm—Macrotech Developers Ltd, earlier known as Lodha Developers, is set to launch its Rs 2,500 crore initial public offering (IPO) on April 7.

Sources told the media that the company would file its red herring prospectus with the Registrar of Companies. The IPO will close on April 9, the source said, adding that the issue has received final approval from the Securities and Exchange Board of India (SEBI).

Macrotech has not raised any pre-IPO funding, even though the draft prospectus included a provision to raise up to Rs 500 crore through the route, the source added.

The developer had filed its first share sale document in September 2009 to raise around Rs 2,800 crore but shelved the plan after the 2008 global financial crisis. In 2018, the company filed for an IPO again, aiming to raise around Rs 5,500 crore.

As we reported earlier, as per the draft prospectus filed last month, the company proposes to utilise an estimated Rs 1,500 crore from the net proceeds for prepayment, repayment or redemption of all or a portion of borrowings availed by the company and some of its subsidiaries.

Image Source

Also read: Top 10 richest realtors: Lodha tops list fourth time

Discover the Cement Expo! Click the button below to explore all the event details.

Visit Cement Expo Website

Lodha Group's real estate arm—Macrotech Developers Ltd, earlier known as Lodha Developers, is set to launch its Rs 2,500 crore initial public offering (IPO) on April 7. Sources told the media that the company would file its red herring prospectus with the Registrar of Companies. The IPO will close on April 9, the source said, adding that the issue has received final approval from the Securities and Exchange Board of India (SEBI). Macrotech has not raised any pre-IPO funding, even though the draft prospectus included a provision to raise up to Rs 500 crore through the route, the source added. The developer had filed its first share sale document in September 2009 to raise around Rs 2,800 crore but shelved the plan after the 2008 global financial crisis. In 2018, the company filed for an IPO again, aiming to raise around Rs 5,500 crore. As we reported earlier, as per the draft prospectus filed last month, the company proposes to utilise an estimated Rs 1,500 crore from the net proceeds for prepayment, repayment or redemption of all or a portion of borrowings availed by the company and some of its subsidiaries. Image Source Also read: Top 10 richest realtors: Lodha tops list fourth time

Previous
Yes Bank buys Reliance Infra HQ in Mumbai for Rs 1,200 cr

Next
IIFL launches handbook for affordable green housing

Related Stories

Gold Stories

Opinion Poll

Question : What are you most interested in Construction Technology?

Latest updates

AVIATION & AIRPORTS
01 Dec 2023

Maharashtra Allocates Rs 2.21 Bn for Karad Airport Development

AVIATION & AIRPORTS
01 Dec 2023

Hubballi Airport's New Terminal Expansion with Rs 3.40 Bn Tender

RAILWAYS & METRO RAIL
01 Dec 2023

Chennai Metro Stations achieve IGBC Platinum Rating

RAILWAYS & METRO RAIL
01 Dec 2023

DPR for Navi Mumbai Metro Lines 2, 3, and 4 Underway

RAILWAYS & METRO RAIL
01 Dec 2023

Mahametro to Build MSRTC Depot at Shivajinagar Metro Station

RAILWAYS & METRO RAIL
01 Dec 2023

Railway Board Chairman Oversees Progress on Kolkata's East-West Metro

SMART CITIES
01 Dec 2023

Planet Smart City Aims for Over Rs 9 Bn in Sales with Pune Project

ROADS & HIGHWAYS
01 Dec 2023

Mumbai Coastal Road Promenade to Launch in December

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 81086 03000

Join us Telegram