Macrotech Developers IPO Subscribed 35% By End Of Second Day Macrotech Developers IPO: Retail investors were showing lack of demand for the issue as the portion reserved for them was subscribed 12 per cent.
Updated: April 08, 2021 6:47 pm IST
Macrootech plans to use the IPO proceeds to pare its debt obligations and buy land for future growth.
Macrotech Developers (formerly known as Lodha Developers) share sale via initial public offering (IPO) witnessed weak demand as the issue was only subscribed 0.35 times or 35 per cent by the end of second day of subscription, data from the National Stock Exchange showed. Macrotech Developers received a total of 1,26,56,070 bids for 3,64,18,219 shares on offer. A total of 35,44,590 bids were received at the cut-off price, the NSE data showed.
Macrotech Developers raises Rs 740 crore from anchor investors ahead of IPO
Representational image/IPO Realty major Macrotech Developers Ltd, erstwhile Lodha Developers, on Tuesday raised Rs 740 crore from anchor investors, ahead of its initial public offer (IPO) that will hit the capital market on Wednesday.
Mumbai-based Macrotech has raised Rs 740 crore from 14 anchor investors, the company said in a regulatory filing.
The company informed that it has allocated 1.52 crore shares at Rs 486 per scrip to anchor investors. The price band was fixed at Rs 483-486 per share.
As many as 12 foreign portfolio investors participated in the anchor. The FPIs are 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.
URL copied
Lodha Developers IPO opens for subscription today
The IPO of realty major Macrotech Developers Ltd, erstwhile Lodha Developers, will open for subscription on Wednesday. The Mumbai-based firm raised Rs 740 crore from 14 anchor investors ahead of its initial public offer. The company informed that it has allocated 1.52 crore shares at Rs 486 per scrip to anchor investors. The price band was fixed at Rs 483-486 per share. As many as 12 foreign portfolio investors participated in the anchor.
Macrotech Developers will raise Rs 2,500 crore through fresh issue of shares. The issue will close on April 9. The IPO price size is fixed Rs 483-486 with face value of Rs 10 per equiry share. A retail investor is allowed to bid for a minimum of one lot which comprises 30 shares. A retail-individual investor can apply for up to 13 lots (390 shares or Rs 189,540).
Macrotech Developers IPO Subscribed 26% On First Day Of Issue Macrotech Developers IPO Subscribed 26% On First Day Of Issue Macrotech Developers, formerly known as Lodha Developers is planning to raise Rs 2,500 crore via IPO and is selling shares in the price band of Rs 483-486 per share.
Macrotech was founded by billionaire Mangal Prabhat Lodha in Mumbai.
Macrotech Developers share sale via initial public offering (IPO) was subscribed 26 per cent on the first day of the issue, data from the National Stock Exchange showed. Macrotech Developers received 95,91,420 bids for 3,64,18,219 shares on offer. A total of 21,65,220 bids were received at the cut-off price, the data showed. The three-day share sale which began today will end on April 9.
April 6, 2021
An Indian real estate company famous for its connection with Donald Trump and infamous for a junk debt rating in 2019 is finally set to list on Indian stock exchanges.
Riding on the ongoing stock market boom, Macrotech Developers, formerly known as Lodha Developers, will launch its initial public offering (IPO) on BSE and the National Stock Exchange tomorrow (April 7). The company which stalled its IPO first in 2009 and then in 2018 due to unfavourable market conditions is now looking to raise Rs2,500 crore ($341 million) via the public listing.
This is the second-biggest IPO by a real estate firm in India after Haryana-based DLF’s Rs9,187 crore listing in 2007. Macrotech Developers plans to use the IPO proceeds for repaying debt and buying land for future projects.