 "Lodha group's Rs 2,500 crore IPO subscribed 35% on penultimate day")
The IPO of Macrotech Developers, also known as Lodha Developers, was subscribed 35 per cent on Thursday, a day ahead of its close. Most of the bids so far have come from qualified institutional buyers (QIB).
The QIB segment of the IPO was subscribed 66 per cent, high net worth (HNI) portion was subscribed 25 per cent and retail portion was subscribed 19 per cent. Typically, most bids for an IPO come on the closing day.
The Mumbai-based developer is looking to issue fresh shares worth Rs 2,500 crore in the IPO. The company will use the IPO proceeds to reduce debt and for land acquisition. The IPO price band for the IPO is Rs 483–486 per equity share.
At the top-end of the price band, Marcotech will have a post-diluted market capitalisation of Rs 21,740 crore.
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%