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Plans to raise total Rs 2,500 crore with 10% dilution in IPO; to reduce debt by Rs 1,500 crore

Lodha Developers files papers with Sebi for IPO, plans to raise Rs 2,500 crore Mumbai: Macrotech Developers, formerly named Lodha Developers, has filed a draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi) for an initial share sale and raise around Rs 2,500 crore via an IPO, reports said. Lodha's attempt to raise money through the initial public offering (IPO) comes as the real estate sector has witnessed some signs of recovery after a long spell of slowdown. “The e-filing of the DRHP has been done. The Lodha IPO is majorly a primary i...

MUMBAI: Mumbai-based realtor Macrotech Developers or erstwhile Lodha Developers is looking to raise up to Rs 2,500 crore by diluting 10% stake in the company through an initial public offer (IPO) in the next few months. For the proposed share sale, India’s largest real estate developer by residential sales has filed its draft red herring prospectus (DRHP) with the capital market regulator late Tuesday. This is the third time the developer is proposing to take the company public with a share sale after attempting the same in 2009 and 2018 and later deferring the issue in the backdrop of unfa...

Macrotech Developers Ltd., India’s biggest homebuilder, plans to raise 25 billion rupees ($344 million) in an initial share sale to help reduce its massive debt burden.

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