IPO-bound Lodha Developers seeks to drop Abhinandan from promoter group
March 03, 2021
Lodha family’s wealth increased by 18 per cent during 2019 and was 12 per cent of the cumulative wealth of the remaining 99 Indians featured on the list - Bloomberg
Lodha family’s wealth increased by 18 per cent during 2019 and was 12 per cent of the cumulative wealth of the remaining 99 Indians featured on the list - Bloomberg×
Lodha Developers, India’s one of largest real-estate companies that has now been rechristened as Macrotech Developers, has made an application to market regulator SEBI seeking permission to drop Abhinandan Lodha from the promoter group. Abhinandan is the younger sibling of Abhishek Lodha, MD of Macrotech and eldest son of Mangal Prabhat Lodha, the founder promoter of Lodha Group.
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[ Editor’s Note: I added the Davig Bryne live performance solely due to Elvin Laton’s comment before where he mentioned “Same as it ever was”. The wheels in my brain turned quickly and it did not take long to find the video.
Sometimes the good old stuff stands the test of time in terms of remaining contemporary through the ages. Bryne has aged well in a business where we see a lot of damage on the hard living folks and early exits.
VT has observed that and had taken the message to heart, literally. To change things you have be here. So the words “Once in a life time” are more than just words, but our reality. We will keep plugging away as long as someone is still coming and there are bad guys to chase after
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According to Redfin, the Trump Organization owns 23 residential buildings in the U.S. Composite: Win McNamee / Getty Images; NurPhoto / Getty Images; Jeff Greenberg / Getty Images; TIMOTHY A. CLARY / Getty Images
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Composite: Win McNamee / Getty Images; NurPhoto / Getty Images; Jeff Greenberg / Getty Images; TIMOTHY A. CLARY / Getty Images
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MUMBAI: Mumbai-based realtor Macrotech Developers or erstwhile Lodha Developers is looking to raise up to Rs 2,500 crore by diluting 10% stake in the company through an initial public offer (IPO) in the next few months.
For the proposed share sale, India’s largest real estate developer by residential sales has filed its draft red herring prospectus (DRHP) with the capital market regulator late Tuesday.
This is the third time the developer is proposing to take the company public with a share sale after attempting the same in 2009 and 2018 and later deferring the issue in the backdrop of unfavorable market conditions.
“The business is being valued at around Rs 25,000 crore and a primary raise with 10% dilution will help the company fetch around Rs 2,500 crore,” said one of the persons with direct knowledge of the development.