Macrotech Developers Do News Today : Breaking News, Live Updates & Top Stories | Vimarsana

NEW DELHI: The IPO of Mumbai-focused Macrotech Developers earlier known as Lodha Developers will open for subscription on Wednesday and close on Friday to raise Rs 2,500 crore from the primary market.
The company has come out with the offer at a time when there is uncertainty in the market and listing gains for fresh issues have vanished. Interestingly though, the issue is priced conservatively compared to others that came in the recent times.
The company proposes to utilise the net proceeds from the issue towards reduction of debt amounting up to Rs 1,500 crore, acquisition of land or land developmental rights aggregating up to Rs 375 crore and for general corporate purposes. ....

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