NEW DELHI: The Rs 2,500 crore IPO of Macrotech Developers (erstwhile Lodha Developers) saw tepid demand and was subscribed only 35 per cent till mid-morning on Day 3 of the bidding process on Friday. At 10.30 am, the issue attracted bids for 1,26,56,070 shares against the issue size of 3,64,18,219 shares.
Uncertainty surrounding the Covid second wave has spooked investor sentiment in the secondary market in recent weeks. That, market watchers say, is having a bearing on the response to this IPO. Tepid listing of some of the recent debutants has also dampened investor enthusiasm in the primary market.
Over the past few weeks, some issues have debuted on the bourses at a discount.
MUMBAI: Prominent investor Rakesh Jhunjhunwala may have placed a bid for shares of Marcotech Developers, formerly called Lodha Developers, in the company’s ongoing initial public offering, business news channel ETNow reported.
The report comes at a time when the city-based real estate developer’s IPO has struggled for response from investors. The IPO was subscribed merely 35 per cent on the second day of the bidding process. It closes for subscription on Friday.
ETMarkets could not independently verify the report.
The lack of response from retail and high net-worth individuals has been particularly alarming for the IPO s investment bankers given that both the segments have been the driving force behind the success of many of the recent public offers.
NEW DELHI: The Rs 2,500 crore initial public offer of Macrotech Developers, erstwhile known as Lodha developers, was subscribed 26per cent on the first day of the bidding on Wednesday.
Interestingly, qualified institutional buyers (QIBs), who usually bid on the last day of the process, came in hordes to apply for the shares. The quota reserved for them was subscribed 58 per cent. The retail investor quota was subscribed 15 per cent.
The company had raised Rs 740 crore from 14 anchor investors ahead of the IPO, allocating 15.2 million shares at Rs 486 apiece.
A total of 12 foreign portfolio investors (FPI) participated in the anchor round. The Capital Group, Nomura, Ivanhoe Cambridge, Wellington Asset Management, Abu Dhabi Investment Authority, Platinum Asset Management, Marshall Wace, Brookfield Asset Management, Segantii Capital, York, Oxbow and Discovery were the overseas investors allocated shares in this round.
Nureca IPO Day 2: Issue Subscribed 9 1 Times, Retail Portion Booked 50 Times moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.