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.