Home/Article/Lodha Developers IPO - Macrotech Developers IPO Date, Share Price And News
Lodha Developers IPO - Macrotech Developers IPO Date, Share Price And News
05 Jan 2023

After witnessing a string of upcoming SME IPOs, we’re finally getting to see a mainboard IPO. Lodha Developers has filed its final Red Herring Prospectus with the SEBI in connection with its latest IPO. Continue reading to find out about the Lodha Developers IPO details.

About the company  

Established in 1995 in Mumbai, Lodha Developers, who recently changed their name to Macrotech Developers, is currently the biggest real estate developer in the entire country. The entire business of the company revolved around development of residential real estate properties. However, in 2019, Lodha Developers expanded its portfolio to include development of industrial parks and commercial real estate properties as well.

The company’s flagship housing projects are all centered in and around the various areas of Mumbai and Thane. Around 57.77% of the revenue generated by Lodha Developers comes from its affordable and mid-income housing projects. The company is currently planning to develop an 800-acre industrial park in Palava.

Lodha Developers IPO - Macrotech Developers IPO details

Let’s now take a look at some of the key details of the Lodha IPO, including the Lodha Developers IPO date and the Lodha Developers IPO share price.

Lodha Developers IPO - Macrotech Developers IPO date

The company has set the opening date of its upcoming IPO as April 7, 2021. The issue would then come to a close on April 9, 2021.

Lodha Developers IPO - Macrotech Developers IPO issue size

Around 5,14,40,328 equity shares are likely to be issued via this new IPO of Lodha Developers. The sale of these many shares would allow the company to raise around Rs. 2,500 crores.

Lodha Developers IPO - Macrotech Developers IPO share price

The price band of the upcoming IPO has also been notified by the company. The IPO price range is from Rs. 483 to Rs. 486 per equity share. 

Lodha Developers IPO - Macrotech Developers IPO listing

Once issued, the shares of Lodha Developers would make its debut on both the premier bourses of the country - the NSE as well as the BSE.

Lodha Developers IPO - Macrotech Developers IPO objectives

The company has notified that it would use the net proceeds from this new IPO issue towards reducing the company’s outstanding borrowings and for the purpose of acquisition of land or land development rights.

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