Macrotech Developers IPO: All you need to know
The upcoming IPO of Mumbai-based Macrotech Developers Limited – formerly known as Lodha Developers Limited– will open for subscription on Wednesday and close on Friday, raising Rs 2,500 crore from the primary sector. The company has set the IPO date as well as the price range at which the shares will be offered for sale. Let’s take a peek at the particulars of the Macrotech Developers IPO.
Macrotech Developers IPO Date & Price Band
| IPO Open: | 07 April 2021 |
| IPO Close: | 09 April 2021 |
| Issue Type | Book Built Issue IPO |
| IPO Size: | Approx ₹4.98 Crore |
| Face Value: | 10 Per Equity Share |
| Price Band: | ₹483-₹486 Per Share |
| Listing on: | BSE NSE |
| Retail Portion: | 35% |
| Equity: | 51,440,328 Shares |
Macrotech Developers IPO Market Lot
| Minimum Lot Size: | Minimum 30 Shares |
| Minimum Amount: | ₹14,580 |
| Minimum Lot Size: | Maximum 390Shares |
| Minimum Amount: | ₹1,89,540 |
Macrotech Developers IPO Allotment & Listing
| Basis of Allotment: | 16 April 2021 |
| Refunds: | 19 April 2021 |
| Credit to Demat Account: | 20 April 2021 |
| Listing Date: | 22 April 2021 |
Financials of Macrotech Developers
| Particulars | 30-Sept-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 |
| Total Assets (in ₹millions) | 4,05,946.16 | 4,06,925.56 | 4,98,639.40 | 4,78,112.76 |
| Total Revenue (in ₹millions) | 31,604.85 | 1,25,609.85 | 1,19,788.67 | 1,37,265.69 |
| Profit After Tax (in ₹millions) | – 2,643.02 | 7,448.36 | 16,439.77 | 17,893.90 |
About Macrotech Developers
Macrotech Developers [formerly known as Lodha Developers] is India’s largest real estate developer, having been established in 1995. The company mainly develops affordable residential real estate, but in 2019, it expanded into the development of logistics and industrial parks, as well as commercial real estate.
Some of its affordable and mid-income housing projects include Palava (Navi Mumbai, Dombivali Region), Bel Air (Jogeshwari), Casa Maxima (Mira Road), Lodha Luxuria (Thane), Crown Thane (Thane), Upper Thane (Thane outskirts), Amara (Thane), Lodha Splendora (Thane), Lodha Sterling (Thane), and Lodha Belmondo (Pune). These segments produce the most revenue for the company, accounting for 57.77 per cent of revenue in the financial year2020.
It plans to build an industrial park on over 800 acres of land near Palava as part of its logistics and industrial park portfolio. The commercial real estate portfolio, on the other hand, comprises developments such as corporate headquarters, IT campuses, and boutique office spaces. As of December 31, 2020, the company had completed 91 projects totaling 77.22 million square feet of developable land, including 59.13 million square feet in the affordable housing section.
Objective of the Issue:
The company plans to use the funds from the IPO for the following purposes:
- To minimise the company’s total outstanding borrowings on a consolidated basis.
- To purchase land or land development rights.
- To fulfil general corporate objectives.