 "Lodha Group's Rs 2,500-crore IPO subscribed 26% on Day 1")
The IPO of realty major Macrotech Developers, also known as Lodha Developers, garnered 26 per cent subscription on Wednesday, the first day of the issue. The Mumbai-based developer is looking to issue fresh shares worth Rs 2,500 crore in the IPO. A day earlier, the company allotted shares worth Rs 740 crore to anchor investors. Lodha will use the IPO proceeds to reduce debt and for land acquisition. The price band for the IPO is Rs 483–486 per equity share. At the top-end of the price band, Macrotech will have a post-diluted market capitalisation of Rs 21,740 crore. The Mumbai-based developer will become the third biggest listed realty company behind DLF and Godrej Properties and slightly ahead of Oberoi Realty.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%