Lodha Developers IPO: India’s leading residential real estate company Lodha Developers is set to raise Rs 2500 crore through IPO.
Lodha Developers IPO: India’s Leading Residential Real Estate Company Lodha Developers (Macrotech Developers) is set to raise Rs 2500 crore through an IPO. The company may bring its IPO in the next few months. For this, Lodha Developers have submitted the necessary documents with the market regulator Securities and Exchange Board of India, ie SEBI. This is the company’s third attempt to raise funds through an IPO. Lodha Developers is a Mumbai based company.
Had 2 tries before
Prior to this, Lodha Developers made their first attempt to launch an IPO in September 2009. After this, in 2018, the company again tried to raise Rs 2800 crore through an IPO. In 2008, due to the global recession, the company withdrew its plan. At the same time, the company’s IPO plan could not get back on track due to recession in 2018 and weak demand in the real estate sector. Now, this is the third attempt of the company.
Where will the fund be used?
Lodha Developers will reduce its 10 per cent stake through an IPO. The IPO will primarily include the primary issue of shares. The funds from the IPO will be used to reduce the company’s debt, acquire land and develop new projects. Lodha is in demand for luxury products from developers. The Trump Tower in Mumbai is an example of this. The company has also completed many projects abroad.