IndiaIndia's Macrotech Developers lists at 10% discount after tepid IPO Sethuraman R 3 minutes read A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, December 11, 2018. REUTERS/Francis Mascarenhas Indian real estate company Macrotech Developers Ltd's (MACE.NS) shares opened 10% below their offering price in its stock market debut on Monday, after the initial public offering saw lukewarm subscription demand from investors. Macrotech, formerly known as Lodha Developers, is among the major players in the Indian real estate industry. Most of its residential projects are concentrated in the country's financial capital of Mumbai, which regularly features in the top 10 most expensive property locations in the world.