Business Standard

Lodha group gives IPO route a third shot, files DRHP for Rs 2,500-cr IPO

The group's Macrotech Developers plans to use Rs 1,500 crore from net proceeds to repay part of Rs 18,662 cr debt and Rs 375 crore to buy land

IPO, startups, company, firms
Premium

Illustration: Ajay Mohanty

Raghavendra Kamath Mumbai
Macrotech Developers, earlier known as Lodha Developers, has filed a draft red herring prospectus with the Securities Exchange Board of India (Sebi) to raise Rs 2,500 crore through an initial public offering (IPO).

The company plans to use about Rs 1,500 crore from the net proceeds to repay its debt and Rs 375 crore to buy land.

As of December last year, the consolidated debt of the company stood at Rs 18,662.19 crore.

“(This) will help reduce our outstanding indebtedness, assist us in maintaining a favourable debt-equity ratio and enable utilisation of some additional amount from our internal accruals for

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 17 2021 | 4:49 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com