INSUBCONTINENT EXCLUSIVE:
Macrotech Developers will utilise the IPO proceeds to repay debts and acquire landMacrotech Developers (formerly Lodha Developers)' Rs
2,500-crore initial public offering (IPO) is set to debut on the bourses on Monday i.e
The IPO, which was open between April 7 and April 9, had received a tepid response from all category of investors
The public issue was subscribed by a mere 1.36 times; the portion set aside for qualified institutional buyers was subscribed 3.05 times,
non-institutional investors segment attracted 1.44 times subscription and retail participants' portion, 40 per cent
However, what is significant is that the company managed to raise funds its third attempt, after two successive failures in 2009 and 2018
due to weak market conditions.Macrotech Developers will utilise the IPO proceeds to repay debts and acquire land.Macrotech Developers was
founded by Mangal Prabhat Lodha in Mumbai
It is primarily engaged in affordable residential real estate, but has also made a mark in the luxury housing space, with projects such as
Trump Towers in Mumbai and Grosvenor Square in London.ICICI Securities, Edelweiss Financial Services, IIFL Securities, JM Financial, YES
Securities, SBI Capital Markets and BOB Capital Markets are the book running lead managers, whereas Link Intime India is the registrar to
