Macrotech Developers will utilise the IPO proceeds to repay debts and acquire land
Macrotech Developers (formerly Lodha Developers) Rs 2,500-crore initial public offering (IPO) is set to debut on the bourses on Monday i.e. April 19. The IPO, which was open between April 7 and April 9, had received a tepid response from all category of investors. The public issue was subscribed by a mere 1.36 times; the portion set aside for qualified institutional buyers was subscribed 3.05 times, non-institutional investors segment attracted 1.44 times subscription and retail participants portion, 40 per cent. However, what is significant is that the company managed to raise funds its third attempt, after two successive failures in 2009 and 2018 due to weak market conditions.
Macrotech Developers IPO To Open On April 7 Macrotech Developers: The IPO will remain open between April 7 and April 9, and the shares will be issued in the price band of Rs 483-486 per share
Updated: April 04, 2021 10:43 am IST
Macrotech Developers IPO: The shares are likely to be listed on BSE and NSE on April 22, 2021
Macrotech Developers (formerly Lodha Developers) Rs 2,500 crore initial public offering (IPO) is likely to open on April 7. The IPO will remain open between April 7 and April 9, and the shares will be issued in the price band of Rs 483-486 per share. The shares are likely to be listed on the BSE and NSE on April 22, 2021.