Saturday, April 10, 2021
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Business

Macrotech Developers aims to raise Rs 2,500 crore through IPO; real estate firm issue opens on 7 April

Jaleel M. by Jaleel M.
April 1, 2021
in Business
0
Macrotech Developers aims to raise Rs 2,500 crore through IPO; real estate firm issue opens on 7 April
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter



The shares of the real estate firm, formerly known as Lodha Developers, will be offered at a price band of Rs 483-486; the proceeds from the IPO will be used to repay its Rs 1,500 crore debt as well as towards land acquisition and other corporate expenses

Related posts

Market Roundup: Nifty, Sensex snap three-day winning streak as banks, finance stocks slide; today’s top gainers and losers

Market Roundup: Nifty, Sensex snap three-day winning streak as banks, finance stocks slide; today’s top gainers and losers

April 9, 2021
Market Roundup: Sensex ends 84 pts higher after choppy day; check the top gainers and losers here

Market Roundup: Sensex ends 84 pts higher after choppy day; check the top gainers and losers here

April 8, 2021

Macrotech Developers Ltd, formerly known as Lodha Developers, is all set to open its initial public offering (IPO) on 7 April. The Mumbai-based company plans to raise Rs 2,500-crore through it. The price value per share will be around Rs 483-486. The issue will remain open till 9 April.

One can bid for a minimum of 30 equity shares for around Rs 14,580. There is a reservation of 50 percent of the net issue for the qualified institutional buyers (QIBs), 15 percent for non-institutional investors and the remaining 35 percent has been reserved for the retail category, reported Financial Express.

According to a report in The Hindu Businessline, SEBI approved the Macrotech Developers IPO last month. The company had filed a Draft Red Herring Prospectus (DRHP) on 16 February.

Macrotech has hired 10 companies as managers to the issue. Axis Capital Ltd, Kotak Mahindra Capital Company Ltd and JP Morgan India Private Ltd and will manage the issue globally. On the domestic front, the IPO will be taken care of by Edelweiss, JM Financial, IIFL Securities, Yes Securities, ICICI Securities SBI Capital and BoB Capital.

The real estate firm plans to repay its Rs 1,500 crore debt through the IPO and will utilise around Rs 375 crore for land acquisition and other corporate expenses.

In the past, the company had tried to launch its IPO twice. In September 2009, it had tried to raise Rs 2,800 crores, but had to cancel the issue due to the global recession. The IPO was again launched in 2018 but was shelved due to adverse scenarios in the market.



Source link

Previous Post

Instagram launches ‘Remix’ feature on Reels

Next Post

Market Roundup: Sensex, Nifty gain over 1% on first day of FY22; today’s top gainers and losers

Next Post
Market Roundup: Sensex, Nifty gain over 1% on first day of FY22; today’s top gainers and losers

Market Roundup: Sensex, Nifty gain over 1% on first day of FY22; today's top gainers and losers

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Mitron app returns to Google Play Store with UX changes

Mitron app returns to Google Play Store with UX changes

10 months ago
NEEDTOBREATHE UNVEIL OFFICIAL MUSIC VIDEO FOR “HANG ON”

NEEDTOBREATHE UNVEIL OFFICIAL MUSIC VIDEO FOR “HANG ON”

8 months ago
Roswell, New Mexico Season 2 Finale: A New Job, a New Alien, and an Emotional New Song

Roswell, New Mexico Season 2 Finale: A New Job, a New Alien, and an Emotional New Song

10 months ago
Apple may announce Macs on mobile processors at WWDC

Apple may announce Macs on mobile processors at WWDC

10 months ago

FOLLOW US

  • 85 Followers
  • 29.5k Followers
  • 113k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • KRISTIN LASH & JAKOB GREY Team Up On “Sleeping With The Lights On”

    0 shares
    Share 0 Tweet 0
  • SEVENTEEN REVEALS PROMOTION SCHEDULE FOR ; SEMICOLON

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy