Macrotech Developers IPO: Key points to note

Macrotech Developers, popularly known as Lodha Developers is all set for launching their IPO on 7th April. This will be the first IPO for the financial year 2021-22.

The IPO will be open for subscription from 7th April to 9th April 2021. The price band for the shares has been fixed at 483-486 Rs. per share. Investors can bid for a lot size of 30 shares and in multiples of 30 thereafter.

The IPO is a fresh issue of Rs 2500 Crores out of which shares worth Rs. 30 crores are reserved for eligible employees. The company plans to utilize the raised capital for clearing off debts and acquisition of new land and land development rights for future projects.

Macrotech is amongst the largest real estate developers of India and this is the third attempt by the company to launch the IPO. The last two plans were deferred due to unfavorable market conditions.

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