Macrotech Developers IPO Detail, How to Apply & Things to Know

Macrotech Developers IPO details, IPO Date,Price, updates of Grey Market Premium (GMP), Live Subscription and Allotment

0

Macrotech Developers IPO: Macrotech Developers (formerly Lodha Developers) will open for bidding for a day on April 6. The company has fixed price band for the offer at Rs 483-486 per share.

Macrotech Developers IPO: All You Need To Know

Macrotech Developers IPO
Macrotech Developers IPO

Macrotech Developers IPO Details

IPO Opening Date07-Apr-21
IPO Closing Date09-Apr-21
Issue TypeBook Built Issue IPO
Face ValueRs 10 per equity share
IPO Price bandRs 483 to Rs 486 per equity share
Market Lot30 Shares
Min Order Quantity30 Shares
Listing atBSE and NSE
Issue SizeRs 2,500 Crores

Macrotech Developers Limited (Formerly known as Lodha Developers Limited) was incorporated as ‘Lodha Developers Private Limited’ on September 25, 1995 in the state of Maharashtra at Mumbai as a private limited company under the Companies Act, 1956, as amended and converted into Public ltd company w.e.f March 14, 2018.

Macrotech developers involved in land, and house development announced on Thursday the price range for their initial public offering (IPO) to be fixed at Rs 483-486 per share.

Macrotech developers were formerly known as Lodha Developers. The company’s Rs 2,500 crore IPO will open on April 7 and will close on April 9.

Also Read: Macrotech Developers IPO Subscription

Microtech developers said in a statement that the price range for the issue has been fixed at Rs 483-486 per equity share.

The company will use the funds raised through the IPO to reduce debt by up to Rs 1,500 crore, acquire land or acquire land development rights for up to Rs 375 crore, and the rest of the general company operations.

Macrotech sells real estate projects under several brands including Lodha, CASA by Lodha and Crown – Lodha Quality Homes for affordable and mid-income housing projects; Lodha, and Lodha Luxury brands for premium and luxury housing projects, and the ‘iThink’, ‘Lodha Excelus’ and ‘Lodha Supremus’ brands for office spaces.

The company has reserved shares worth Rs 30 crore as part of the issue for its eligible employees.

Investors can bid for a minimum of 30 equity shares and in multiples of 30 shares, thereafter, translating into the minimum application size of Rs 14,580 per lot at higher price band.

Macrotech Developers can be compared with listed peers like Brigade Developers, DLF, Godrej Properties, Oberoi Realty, Prestige Estates Projects, Sobha and Sunteck Realty.

Axis Capital, JP Morgan India and Kotak Mahindra Capital Company are the global co-ordinators and book running lead managers to the issue. ICICI Securities, Edelweiss Financial Services, IIFL Securities, JM Financial, YES Securities (India), SBI Capital Markets and BOB Capital Markets are the book running lead managers to the public issue.

This is the third attempt by Macrotech to bring in a public issue and be listed on the stock market.

The company submitted a prospectus (DRHP) to SEBI in September 2009 to raise about Rs 2,800 crore. It got approval from SEBI (Securities and Exchange Board of India) in January 2010 but the plan was put on hold later due to the market conditions not being favorable after the global financial crisis.

Subsequently, in April 2018, the company submitted DRHP and in July 2018 got approval from SEBI for an IPO to raise Rs 5,500 crore. But the plan was postponed due to poor market conditions.

Lodha Developers IPO Allotment & Listing:

  • Basis of Allotment: 16 April 2021
  • Refunds:  19 April 2021
  • Credit to Demat accounts: 20 April 2021
  • Listing: 22 April 2021

FAQs

When Lodha Developers IPO will open?

The Macrotech Developers IPO opens on Wednesday, 7th April, 2021 and closes on Friday, 9th April, 2021.

What is the lot size of Macrotech Developers IPO?

Investors can bid for a minimum of 30 equity shares and in multiples of 30 shares, thereafter, translating into the minimum application size of Rs 14,580 per lot at higher price band.

How to Apply for Macrotech Developers IPO?

You can apply for the Macrotech Developers IPO login to your demat account, visit IPO section and click on the IPO link of Macrotech Developers Limited. You can then enter minimum lot quantity and price band and then submit. On acceptance of the mandate, the bid amount will get blocked in your bank account.

What is Lodha Developers IPO Allotment & Listing Date?

Lodha Developers IPO allotment date is 16 April 2021. IPO listing date is 22 April 2021. The IPO to list on BSE and NSE.

LEAVE A REPLY

Please enter your comment!
Please enter your name here