Synopsis
With its concentration in the most lucrative of real-estate markets in India huge inventory pile and diversity across categories Macrotech has everything that could make it a major beneficiary if the real-estate boom continues. But if the sector crumbles under the pandemic and macro-economic pressure, the stock may become a riskier bet.
Two roads diverged in a yellow wood, And I took the one that went through the rebranded neighbourhood of Upper Worli, Upper Thane and new Cuffe Parade.The ‘I’ in the above reworked phrase taken from Robert Frost’s famous poem refers to Mumbai-based realty developer Macrotech Developers. Formerly known as the Lodha Group, the company has been a pioneer at rebranding the Maximum City’s not-so-desirable PIN codes.Prior to changing its own name, it
Macrotech Developers share makes weak market debut, lists at 10% discount to issue price
Macrotech Developers share listed at Rs 436, a discount of 10.28% against IPO issue price of Rs 486 on NSE
BusinessToday.In | April 19, 2021 | Updated 11:02 IST
On BSE, Macrotech Developers listed at Rs 439, a 9.67% discount to issue price. Market cap of the firm stood at Rs 20,766 crore.
Macrotech Developers share listed at a discount of 10% to IPO issue price on NSE today. The stock of Mumbai-based real estate developer listed at Rs 436, a discount of 10.28% against IPO issue price of Rs 486 on NSE. Price band of the IPO was fixed at Rs 483 to Rs 486 per equity share.
Macrotech Developers will utilise the IPO proceeds to repay debts and acquire land
Macrotech Developers (formerly Lodha Developers) Rs 2,500-crore initial public offering (IPO) is set to debut on the bourses on Monday i.e. April 19. 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 market debut on April 19; what to expect
Amid lukewarm response to its IPO and volatile market conditions due to the second COVID-19 wave, Macrotech Developers might see profit booking on the day of its markt debut
BusinessToday.In | April 18, 2021 | Updated 20:52 IST
Macrotech Developers will list its equity shares on Indian stock exchanges on Monday, April 19. Formerly known as Lodha Developers, the real estate major is expected to make a muted debut on the stock market amid lukewarm response to its IPO and volatile market conditions due to the second COVID-19 wave.
Macrotech Developers opened its initial public offering (IPO) on April 7 and closed the same on April 9. The shares were allotted on April 16.
Macrotech Developers IPO: Here s How To Check Allotment Status Macrotech Developers, founded by Mangal Prabhat Lodha in Mumbai, is primarily engaged in affordable residential real estate
Updated: April 14, 2021 2:02 pm IST
Macrotech Developers IPO: The shares are likely to be listed on the BSE and NSE on April 22, 2021
Macrotech Developers (formerly Lodha Developers) is likely to finalise its basis of allotment on Friday, April 16, 2021. The Rs 2,500-crore IPO, which was open between April 7 and April 9, received a lukewarm response from investors. The reserved portion for qualified institutional buyers (QIBs) was subscribed 3.05 times, non-institutional investors was subscribed 1.44 times and portion set aside for retail individual investors saw a subscription of 40 per cent. The shares are likely to be listed on the BSE and NSE on April 22, 2021.