Macrotech Developers IPO Date, GMP, Price, Grey Market Premium: Everything You Need to know

Details of the Macrotech Developers Limited IPO:
Company Details :
  • Macrotech Developers Limited is one of the largest real estate developers in India, by residential Sales value for The financial years 2014 to 2020. (Source: Anarock Report). Its core business is residential real estate developments With a focus on affordable and mid-income housing. Currently,They have residential projects in the MMR and Pune.
  • In 2019, they forayed into the development of logistics and industrial parks and entered into a joint venture with ESR Mumbai 3 Pte. Limited (“ESR”), a subsidiary of ESR Cayman Limited, an Asia Pacific focused logistics real estate platform. (Source: Anarock Report) Company also develop commercial real estate, including as part of mixed-use developments in and around its core residential projects.
  • The Lodha group has been involved in the real estate business since 1986. Companies large ongoing portfolio of affordable and mid-income housing projects include Palava (Navi Mumbai, Dombivali Region), Upper Thane (Thane outskirts), Amara (Thane), Lodha Sterling (Thane), Lodha Luxuria (Thane), Crown Thane (Thane), Bel Air (Jogeshwari), Lodha Belmondo (Pune), Lodha Splendora (Thane) and Casa Maxima (Mira Road).
  • Companies premium and luxury housing projects include Lodha Park (Worli), Lodha World Towers (Lower Parel), Lodha Venezia (Parel) and New Cuffe Parade (Wadala). In addition, They have a few projects under the “Lodha Luxury” brand, which comprise small-scale, high-value developments such as Lodha Altamount (Altamount Road), Lodha Seamont (Walkeshwar) and Lodha Maison (Worli).
  • In commercial portfolio, their office space projects comprise corporate offices, IT campuses and boutique office spaces, which are concentrated in suburban locations. Their retail projects focus on high street retail with shopping and entertainment options for the local community.
  • As of December 31, 2020, They have 91 completed projects comprising approximately 77.22 million square feet of Developable Area, of which 59.13 million square feet is in affordable and mid-income housing, 12.15 million square feet is in premium and luxury housing, 5.21 million square feet is in office space and 0.74 million square feet is in retail space.
Issue Period : Issue opens on: Wednesday, April 7, 2021
Issue closes on: Friday, April 9, 2021
Price Band : Rs.483 to Rs.486 per equity share
Bid Lot : 30 shares and in multiples thereof
Issue Size : Rs.2500 crore
Employee Reservation : Equity shares aggregating upto Rs. 30 crore
Issue break-up : QIB – 50 % of the offer – Rs. 1235.00 crore
NIB – 15 % of the offer – Rs. 370.50 crore
RET – 35 % of the offer – Rs. 864.50 crore
Listing : NSE and BSE
Registrar : Link Intime India Pvt. Ltd.
UPI : All Retail Applications through brokers are compulsorily in UPI Mode
Lodha Developers IPO Date & Price Band:
 IPO Open:  7 April 2021
 IPO Close:  9 April  2021
 IPO Size:  Approx ₹2500 Crore
 Face Value:  ₹10 Per Equity Share
 Price Band:  ₹483 to ₹486 Per Share
 Listing on:  BSE & NSE
 Retail Portion:  35%
 Equity:  51,440,328 Shares
Lodha Developers IPO Market Lot:
The Lodha Developers IPO minimum market lot is 30 shares with ₹14,580 application amount. The retail investors can apply up-to 13 lots with 390 shares or ₹189,540 amount.

 Minimum Lot Size:  Minimum 30 Shares
 Minimum Amount:  ₹14,580
 Maximum Lot Size:  Maximum 390 Shares
 Maximum Amount:  ₹189,540
Lodha Developers IPO Allotment & Listing:
The Lodha Developers IPO date is 7 April 2021 and the close date is 9 April 2021. The allotment will be finalized on 16 April 2021 and the IPO may list on 22 April 2021.

 Basis of Allotment:  16 April 2021
 Refunds:  19 April 2021
 Credit to Demat Account:  20 April 2021
 Listing Date:  22 April 2021
Company Financials:
Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (₹ in millions)
31-Dec-20 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets 4,05,946.16 4,06,925.56 4,98,639.40 4,78,112.76
Total Revenue 31,604.85 1,25,609.85 1,19,788.67 1,37,265.69
Profit After Tax (2,643.02) 7,448.36 16,439.77 17,893.90
Objects of the Issue:

The IPO aims to raise money for the following purposes;

  • To reduce aggregate outstanding borrowings of the company on consolidated basis.
  • To acquire land or land development rights.
  • To meet general corporate purposes.
Company Promoters:

Abhishek Mangal Prabhat Lodha, Rajendra Narpatmal Lodha, Sambhavnath Infrabuild and Sambhavnath Trust are the company promoters.