E-Paper
Macrotech Developers to raise ₹125 cr through issue of debentures
The executive committee of the Board of Directors of Macrotech Developers has approved the allotment of 12,500 non-convertible debentures of ₹1 lakh each
Mumbai-based real estate major Macrotech Developers Ltd, that sells properties under the Lodha brand, said on March 28 that it will raise ₹125 crore through the issue of non-convertible debentures (NCDs).
The executive committee of the Board of Directors of Macrotech Developers has approved the allotment of 12,500 non-convertible debentures of ₹1 lakh each aggregating to ₹125 crore, the company said in a regulatory filing.
“Pursuant to Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that the Executive Committee of the Board of Directors of the Company has today i.e., March 28, 2024, approved the allotment of 12,500 rated, listed, senior, secured, redeemable, taxable, transferable non-convertible debentures of ₹ 1,00,000 each aggregating to ₹125 Crore. (“Secured NCDs”),” the company said in a regulatory filing.
The company said in a separate filing that it has acquired 50% of the paid-up equity capital and other securities/instruments of Siddhivinayak Realties Pvt Ltd under a share purchase agreement (SPA).
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“We hereby inform of the acquisition of 50% of the paid-up equity capital and; other securities / instruments of Siddhivinayak Realties Private Limited under a Share Purchase Agreement (“SPA”),” it said.
Recently, Macrotech Developers raised ₹3,300 crore by selling shares to institutional investors.
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