You are here: Home » Markets » IPOs » News
Business Standard

Lodha plans to raise up to $1 bn via IPO

The company had planned an IPO of Rs 2,800 crore in 2010, but it was shelved due to a weak stock market

Reuters  |  Mumbai 

IPO

is looking to raise up to $1 billion through an (IPO) that is likely to be launched next year, two people with knowledge of the plan told IFR, a Thomson Reuters publication. India's main stock indexes have surged almost 30 percent this year, bolstered by strong foreign inflows, spurring companies to raise a record of more than $11 billion through IPOs so far this year. The company had planned an of Rs 2,800 crore ($437 million) in 2010, but it was shelved due to a weak stock The has hired Citic CLSA, Kotak and for the IPO, the people said, adding that more banks were likely to join the syndicate, IFR said. Lodha is currently developing an estimated 43 million square feet of real estate and has 28 ongoing projects across London, Mumbai, Pune, Hyderabad and Bengaluru, according to its website.

The S&P Index is up 97 per cent since the start of the year. Lodha plans to raise up to $1 bn via IPO

First Published: Fri, December 22 2017. 00:28 IST
RECOMMENDED FOR YOU