Lodha plans to raise up to $1 bn via IPO

The company had planned an IPO of Rs 2,800 crore in 2010, but it was shelved due to a weak stock market

Lodha Developers is looking to raise up to $1 billion through an initial public offering (IPO) that is likely to be launched next year, two people with knowledge of the plan told IFR, a Thomson Reuters publication.

India's main stock indexes have surged almost 30 percent this year, bolstered by strong foreign inflows, spurring companies to raise a record of more than $11 billion through IPOs so far this year.

The company had planned an IPO of Rs 2,800 crore ($437 million) in 2010, but it was shelved due to a weak stock market.

The real estate developer has hired Citic CLSA, Kotak