 "Lodha Group's World One, with 117 storeys, is expected to be the tallest residential tower yet")
Macrotech Developers (Lodha) on Monday launched its qualified institutional placement (QIP) programme to raise Rs 4,000 crore.
Close to 34 million new shares will be issued in the QIP. The fund raise will lead to 7.5 per cent dilution. As per the Sebi formula, the base price for the QIP is Rs 1,184.7 per share, a discount of 7.7 per cent to the real estate major’s last closing price of Rs 1,283. BofA Securities, JP Morgan and Kotak Mahindra Capital are the investment banks handling the share sale.
The new shares issued under the QIP programme are likely
Close to 34 million new shares will be issued in the QIP. The fund raise will lead to 7.5 per cent dilution. As per the Sebi formula, the base price for the QIP is Rs 1,184.7 per share, a discount of 7.7 per cent to the real estate major’s last closing price of Rs 1,283. BofA Securities, JP Morgan and Kotak Mahindra Capital are the investment banks handling the share sale.
The new shares issued under the QIP programme are likely
