The initial public offering (IPO) of realty major Macrotech Developers Ltd, which was formerly called Lodha Developers, is set to debut on the bourses on Monday. The public issue worth ₹2,500 crore, which opened on April 7 for two days, was subscribed 1.36 times. Qualified institutional buyers subscribed to the IPO 3.05 times while non-institutional investors subscribed to the issue 1.44 times. The price band of the issue was set at ₹483-486 per share. This marks the third attempt by the Mumbai-based Macrotech Developers Ltd to launch an IPO, which weighed listing in 2009 and 2018 but deferred its plans both times owing to unfavourable market conditions.
Here’s how you can check the allotment status:
Investors can check the allotment status on the BSE’s website. On the site under ‘Issue’ type, click ‘Equity’. Under issue name, select Macrotech Developers Limited from the dropbox. Enter your application number and PAN card details after which click ‘Search’.
Alternatively, investors can also check the allotment status of the IPO on the online portal of Link Intime India Private Ltd who is the registrar of the issue.
Details of Macrotech Developers Ltd IPO:
Axis Capital, JP Morgan India, Kotak Mahindra Capital Company, ICICI Securities, Edelweiss Financial Services, IIFL Securities, JM Financial, YES Securities, SBI Capital Markets and BOB Capital Markets are the book running lead managers of the IPO. The company intends to use the proceeds from the IPO to reduce its aggregate outstanding borrowings on a consolidated basis, acquire land or land development rights and for general corporate purposes, according to a statement by the company. The revenue from operations of the company in the fiscal year 2019-20 stood at ₹12,442.6 crore. The company suffered a loss of ₹264.3 crore in the April-December of the last fiscal owing to the coronavirus disease (Covid-19) pandemic.