Macrotech Developers below QIP price after 7% fall today; down 25% in 1 yr

Macrotech Developers' promoters have raised Rs 3,547 crore by selling shares around 7.2% of the company's equity share capital to institutional investors at the offer price of Rs 1,026 per share

Shares of realty firm Macrotech Developers dipped 7 per cent to Rs 1,005.50 on the BSE in Tuesday’s firm market. This was below its qualified institutional placement (QIP) price of Rs 1,026 per share.

Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune property markets, while it recently made an entry into the Bengaluru market with a housing project.

Last week, the company had launched a QIP of equity shares. The issue was priced