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Lodha IPO to open on April 7
Realty major Lodha Developers is likely to hit the capital market on April 7 with a Rs 2,500 crore initial public offer (IPO), as it seeks to raise funds to reduce debt and future growth. Mumbai-based Lodha Developers Ltd, which has been renamed Macrotech Developers, filed the draft red herring prospectus (DRHP) with the Securities Exchange Board of India (Sebi) last month.
According to banking sources, the company has got the SEBI approval to launch its IPO. The public issue is likely to hit the capital market on April 7, they added.Â
This would be the third attempt by Lodha Developers to launch a public issue and list its shares on the stock exchanges.