Macrotech Developers IPO sees 26% subscription on day one
The issue received bids for 95,91,420 shares against 3,64,18,219 shares on offer, as per NSE data
New Delhi: The initial public offer of Macrotech Developers was subscribed 26% on the first day of subscription on April 7. The issue received bids for 95,91,420 shares against 3,64,18,219 shares on offer, as per NSE data.
The category for qualified institutional buyers was subscribed 58%, non-institutional investors 11% and retail individual investors 15%.
The initial public offer is for up to Rs 2,500 crore. Price range for the offer is Rs 483-486 per share.
Realty major Macrotech Developers Ltd, erstwhile Lodha Developers, on April 6 raised Rs 740 crore from anchor investors.
Axis Capital, J P Morgan India Private Limited, Kotak Mahindra Capital Company Limited and Edelweiss Financial Services are the global co-ordinators and book running lead managers to the offer.
This is the third attempt by Lodha Developers to launch a public issue and list its shares on the stock exchanges. In 2009 and 2018, the company had filed IPO documents and also got Sebi approval but did not hit the capital market as market conditions were not conducive.