NEW DELHI: As Macrotech Developers readied to hit the market with its IPO, what is puzzling investors is the name change: after all the branding and projects launched under the Lodha name, Lodha Developers changed its name. The management says that is no rocket science. “The company had a merger of its existing company, Macrotech Developers, in 2019. At that point in time, as per the board’s decision, it was chosen to retain the name of that merged entity,” said Abhishek Lodha, Managing Director and Chief Executive Officer of Macrotech Developers. The company plans to raise Rs 2,500 crore via the IPO, with primary focus on reducing its debt. At the upper end of the IPO price band, Macrotech will have a market capitalisation of about Rs 21,750 crore. DLF with a market cap of Rs 69,000 crore and Godrej Properties with Rs 38,000 crore are currently valued more than Macrotech’s estimated valuation.