Macrotech Developers redeems offshore bonds worth $170 mn

17 Mar 2022 CW Team

Lodha Group, a real estate conglomerate listed as Macrotech Developers, has redeemed offshore bonds worth $170 million. The company paid off this debt nearly a year before the scheduled maturity of these bonds in March 2023.

The notes that have been redeemed will be cancelled and removed from the Singapore Exchange Securities Trading Limited's (SGX) list. The developer said in a regulatory filing that the balanced Notes of $55,000,000 are still listed on the Singapore Exchange Securities Trading Ltd.

Lodha announced earlier this month that it would repay these offshore bonds in part on March 12.

These bonds are part of a $225 million debt raised by the developer's wholly-owned subsidiary Lodha Developers International Ltd, Mauritius, to fund two luxury residential projects in London: Grosvenor Square and Lincoln Square.

Macrotech Developers formerly Lodha Developers is an Indian multinational real estate company with headquarters in Mumbai, India. Mangal Prabhat Lodha founded it in 1980. In Mumbai, Thane, Hyderabad, Pune, and London, it has built residential and commercial properties. Lodha Altamount, The World Towers, Lodha Bellissimo, Trump Tower Mumbai, and Lodha Park are just a few of the company's notable projects. Palava, an integrated smart city near Mumbai, is also credited to the company. On April 19, 2021, the company was renamed Macrotech Developers.

Image Source

Also read: Macrotech Developers to refinance debt up to Rs 2,500 cr by March

Infrastructure Transport

01 Sep 2025

Indian Railways Marks New Milestone with 4.5 km Long ‘Rudrastra’ Trial

Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’, achieving a new milestone in cargo transportation, as per news reports. The 4.5 km-long train began its trial from Ganjkhwaja railway station in Chandauli, Uttar Pradesh, and travelled to Garhwa in Jharkhand. Covering a distance of 209 km in 5 hours and 10 minutes, it maintained an average speed of 40.5 km per hour. The train was formed by combining three long-haul racks, with ..

UltraTech Launches India’s First On-Site Hybrid RTC Renewable Energy Project

UltraTech Cement has operationalised a 7.5 MW round-the-clock (RTC) hybrid renewable energy project at its Sewagram Cement Works in Gujarat. The first-of-its-kind solution combines bifacial solar modules with trackers, wind energy and battery storage, co-located on-site, to ensure uninterrupted power for cement manufacturing without grid reliance. The project was executed in collaboration with clean energy solutions provider Gentari. Installed as a behind-the-meter system, it is the country..

Patna Metro Trials Successful, Red Line Priority Corridor to Launch This Month

Patna is set to roll out its first metro rail service later this month, with successful trial runs conducted on the Red Line priority corridor, the Patna Metro Rail Corporation announced.On 7 September, a metro train completed a test run between the Patna depot and Bhootnath station. Officials said the trials involved rigorous checks of rolling stock fitness, overhead electrification (OHE), and track alignment and stability to ensure operational safety and performance.The corridor from the New Pataliputra Bus Terminal to Bhoothnath has been designated as the priority stretch and will be the fi..