IPO Alert: Macrotech Developers IPO opens from 7-9 April 2021

Blog | IPO

Did you know? So far this year, 16 companies have already launched their public issues. In comparison, there were just 14 IPOs in the whole of 2020. Fun fact aside, it’s time for the 17th IPO of the year, that of realty major Macrotech Developers. 

Key details

  • Price band: ₹483–486 per equity share
  • Lot size: 30 shares
  • IPO size: ₹2,500 crore
  • Cost per lot: ₹14,580
  • Issue opens: 7 April 2021
  • Issue closes: 9 April 2021
  • Basis of allotment date: 16 April 2021
  • Initiation of refunds: 19 April 2021
  • Credit of shares to Demat account: 20 April 2021
  • Expected listing date: 22 April 2021 

 

About Macrotech Developers

Known for its brand name Lodha, Macrotech Developers Ltd was incorporated in 1995 as Lodha Developers Pvt Ltd. It changed its name to Macrotech Developers in June 2019. It is one of the largest real estate developers in India based on residential sales for FY14–20. It focuses on affordable and mid-income housing and has residential projects in the Mumbai Metropolitan Region (MMR) and Pune.

It is the market leader in the MMR with a market share of around 10% as of FY20. However, owing to the overall slowdown in the real estate sector, the company’s revenue fell 4% and its profit declined 35.5% during FY18-20. 

 

About the issue

Similar to the recently debuted Anupam Rasayan, the ₹2,500 crore public issue of Macrotech Developers is entirely a fresh issue. The company plans to use about ₹1,500 crore to clear its debt, about ₹375 crore to acquire land and land development rights, and the remaining funds for general corporate purposes. After the public issue, its promoter shareholding will stand at 88.5%. 

 

IPO allocation quota

QIB HNI Retail
50% 15% 35%

To know more about the IPO, read its red herring prospectus here. The issue opens on 7 April 2021 and you can subscribe to it with Upstox here. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!

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