Tuesday, April 13, 2021

Lodha Macrotech Developers IPO Details

Lodha Macrotech Developers IPOLodha Developers IPO description – The company is the largest real estate developer in India, by residential sales value for FY2014 to 2020. Its core business is residential real estate developments with a focus on affordable and mid-income housing. Currently, the company has residential projects in the MMR and Pune. In 2019, it forayed into the development of logistics and industrial parks and entered into a joint venture with ESR Mumbai 3 Pte Limited. The company also develops commercial real estate, including as part of mixed-use developments in and around its core residential projects.

Macrotech’s affordable and mid-income housing developments accounted for 57.8% and 57.8% of its total residential sales, during the nine months ended 31 December 2020 and the FY2020, respectively. As of 31 December 2020, the company has 91 completed projects comprising approximately 77.2 million square feet of Developable Area. It also has 36 ongoing projects comprising approximately 28.8 million square feet of Developable Area, of which 23.57 million square feet is in affordable and mid-income housing.

In addition to the ongoing and planned projects, as of 31 December 2020, the company has land reserves of approximately 3,803 acres for future development in the MMR, with the potential to develop approximately 322 million square feet of Developable Area.

Promoters of Lodha Macrotech Developers – Abhishek Mangal Prabhat Lodha, Rajendra Narpatmal Lodha, Sambhavnath Infrabuild and Sambhavnath Trust
Lodha Macrotech Developers IPO details
Subscription Dates 7 – 9 April 2021 
Price Band INR483 – 486 per share 
Fresh issue INR2,500 crore
Offer For Sale Nil
Total IPO size INR2,500 crore
Minimum bid (lot size) 30 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE

Macrotech Developers Financial Performance (in INR crore)

FY2018 FY2019 FY2020 9M FY2021
Revenue 13,726.6 11,979.9 12,561.0 3,160.5
Expenses 11,017.0 9,490.0 11,560.2 3,218.8
Comprehensive income 1,767.9 1,641.6 732.5 -259.3
Margin (%) 12.9 13.7 5.8 -8.2

Registrar of Lodha Developers IPO

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg
Vikhroli (West), Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website: http://www.linkintime.co.in

Lodha Macrotech Developers Contact Details

Macrotech Developers Limited
Lodha Excelus, L 2,
N M Joshi Marg, Mahalaxmi,
Mumbai 400 011
Phone: +91 22 2302 4400
Email: [email protected]
Website: www.lodhagroup.in

Valuation of Lodha Developers (as of FY2020)

Earnings Per Share (EPS): INR18.46 Price/Earnings (PE ratio): 26.16 – 26.32
Return on Net Worth (RONW): 17.8% Net Asset Value (NAV): INR103.86 per share

Lodha Developers IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 PM)
Day 1 Day 2 Day 3
QIB 1,02,27,742 0.58 0.65 3.05
NII 76,70,808 0.11 0.19 1.44
Retail 1,78,98,551 0.15 0.25 0.40
Employee 6,21,118 0.04 0.10 0.17
Total 3,64,18,219 0.26 0.35 1.36

Lodha Macrotech Developers IPO Reviews

Ajcon Global – Subscribe
Angel Broking – Neutral
Arun Kejriwal – Subscribe
BP Wealth – Avoid
Choice Broking – Subscribe for long term
Elite Wealth – Subscribe
ICICIdirect – Not rated
Reliance Securities – Subscribe
SMC Global – 2/5
Ventura Securities – Not rated

Lodha Macrotech Developers IPO Allotment Status

Macrotech Developers IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status.

Listing Performance of Lodha Macrotech Developers

IPO Opening Date: 7 April 2021
IPO Closing Date: 9 April 2021
Finalisation of Basis of Allotment: 16 April 2021
Initiation of refunds: 19 April 2021
Transfer of shares to demat accounts: 20 April 2021
Listing Date: 22 April 2021
Opening Price on NSE: Coming soon
Closing Price on NSE: Coming soon

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