Promoters of Macrotech Developers repay debt of Rs 1,596 cr owed to company

The promoters have raised these funds by means of a long-term instrument having tenure greater than three years with no repayment obligation prior to that

Macrotech Developers (Lodha group) on Wednesday said the promoters of the company have repaid Rs 1,596 crore owed by them to the company.

"Promoters owed the company a sum of Rs 1,596 crore as of March 31, 2021. Of this, a sum of Rs 400 crore was repaid on April 29, 2021. The balance of Rs 1,196 crore, together with interest accrued thereon, has been repaid today," it said in an exchange filing.

"Thus, the entire debt has been repaid expeditiously, in just over two months from the listing of the company," it added.

"This repayment, combined with our IPO