Macrotech Developers Limited subscribed 35% on Day 2
Posted On: 2021-04-08 08:15:41 (Time Zone: Arizona, USA)
Affordable and Mid Income Housing focused Macrotech Developers Limited also known as Lodha Developers; received bids of 1,26,56,070 shares against the offered 36,193,415 equity shares, as per the 5:00 pm data available on the bourses.
The portion reserved for retail investors was subscribed 0.25 times. While the Qualified Institutional Buyer category was subscribed 0.66 times, the Non-Institutional Investor category was subscribed 0.19 times.
The total size of the offer is Rs. 2500 cr at the upper price band of Rs. 486 per share.
The IPO is a fresh issuance of equity shares of Rs 10 face value aggregating up to Rs. 2500 crore. The minimum bid lot is of 30 equity shares, thereafter in multiples of 30 equity shares. The price band has been fixed at Rs. 483 - Rs. 486 per Equity Share.
Macrotech Developers Limited subscribed 27%, QIB portion booked 59% on Day 1 equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
MUMBAI: Dalal Street veteran and Morgan Stanley’s India equity strategist Ridham Desai believes investors should continue to own domestic cyclical companies instead of jumping ship to defensive sectors, like IT and pharmaceutical because of the second COVID-19 wave.
“We prefer domestic cyclical over defensive sectors as India’s growth cycle is unfolding and the relative case remains in favour of cyclical stocks,” Desai argued in their latest note.
Desai’s impassioned defence of cyclical stocks comes days after another celebrated global equity strategist Christopher Wood of Jefferies cut his weightage for Indian equities in his portfolio, fearing that cyclical stocks had not factored in renewed lockdowns.
Macrotech Developers raises 740 Cr from 14 Anchor Investors
Posted On: 2021-04-06 10:21:22 (Time Zone: Arizona, USA)
Affordable and Mid Income Housing focused Macrotech Developers Limited also known as Lodha Developers has raised Rs. 740 crore from 14 anchor investors. The company informed the bourses that it has allocated 1.52 Cr shares at Rs. 486 per share on Tuesday, April 6, 2021 to anchor investors.
12 Foreign Portfolio Investors who participated in the anchor were Capital Group; Nomura; Ivanhoe Cambridge, real estate arm of CDPQ; Wellington Asset Management,; Abu Dhabi Investment Authority, Abu Dhabi s sovereign fund; Platinum Asset Management, Marshall Wace, Brookfield Asset Management, Segantii, York, Oxbow and Discovery. These investors were allocated approximately 1.45 Cr. shares for approximately Rs 705 Cr.
Macrotech to continue focus on Affordable-Mid Income Housing, strengthens its Logistics and Industrial developments equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.