IPO New
Lodha
Developeers
Microtech Developers IPO to Launch on 7th April 2021.
1. Know About the Macrotech Developers
Macrotech Developers (formerly known as Lodha Developers) was the largest Indian developer in 2017 in terms of residential sales. Formed in 1995 in Mumbai, the company engages in developing real estate across residential and commercial segments in Mumbai Metropolitan Region, Pune, and London. It offers a diverse product range in affordable housing, luxury housing, and retail office space.
The company registered Rs 2,500 crores in booking in the third-quarter ending December 31, 2020.
2. Competitive strength
- Several decades of market experience with a track record
- As of December 2020, the company completed 91 projects comprising approximately 77.22 sqft of developable area
- Strong execution record and presence in Mumbai and Pune with a diversified product portfolio
- Caters to a broad segment of customers in affordable and luxury residential and commercial sections
3. Macrotech Developers IPO Important Dates
The below table has important dates with respect to the Macrotech Developers IPO allotment and listing :
| IPO Open Date | 07-Apr-21 |
| IPO Close Date | 09-Apr-21 |
| Basis Of Allotment Date | 16-Apr-21 |
| Initiation Of Refunds | 19-Apr-21 |
| Credit Of Shares To Demat Account | 20-Apr-21 |
| IPO Listing Date | 22-Apr-21 |
| UPI Mandate Expiry Date | 29-Apr-21 |
4. Macrotech Developers IPO Issue Size
The Macrotech Developers’ IPO of Rs 2,500 crores containing fresh equities launches in the price band of Rs 483-486 apiece. The company proposes to utilise the capital raised from the IPO activity to repay its borrowing.
5. Company Promoters:
Abhishek Mangal Prabhat Lodha, Rajendra Narpatmal Lodha, Sambhavnath Infrabuild and Sambhavnath Trust are the company promoters.
6. Company Financials:
| Financial Performance of the Company is summaried in below table | |||||
| Particulars | For the year/period ended (₹ in crores) | ||||
| 31-Dec-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | ||
| Total Assets | 40594.62 | 40692.56 | 49863.94 | 47811.28 | |
| Total Revenue | 3160.48 | 12560.98 | 11978.87 | 13726.57 | |
| Profit After Tax | (2,64.30) | 744.84 | 1643.98 | 1789.39 |
7. Objects of the Issue:
The IPO aims to raise money for the following purposes;
- To reduce aggregate outstanding borrowings of the company on consolidated basis.
- To acquire land or land development rights.
- To meet general corporate purposes.
8. Macrotech Developers IPO Details
| IPO Opening Date | Apr 7, 2021 |
| IPO Closing Date | Apr 9, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹483 to ₹486 per equity share |
| Market Lot | 30 Shares |
| Min Order Quantity | 30 Shares |
| Listing At | BSE, NSE |
| Issue Size | 51,440,328 Eq Shares of ₹10 (aggregating up to ₹2,500.00 Cr) |
