Lodha Developers plans to file DRHP for Rs 2,700-crore IPO this week

Lodha Group considered a listing in 2009 and 2018, but shelved the plan due to unfavourable market conditions

Mumbai-based Lodha Develo­pers plans to file a draft red herring prospectus for initial public offering (IPO) this week, said sources in the know. “The paper­work is done,” informed sources. According to them, Lodha plans to raise Rs 2,500-2,700-crore public issue for de­bt reduction and new projects.

An email sent to Lodha did not elicit any response till the time of going to press.

This will mark the third attempt to raise money thro­ugh an IPO by the property developer known for luxury projects such Trump Towers in Mumbai and Grosvenor Square in London.

Lodha Group considered a listing in 2009 and 2018, but