Macrotech Developers IPO from tomorrow 07-04-2021: Issue Price, Price Band, Bid lot, and other details of Lodha Developers highlighted

Macrotech Developers IPO Date 07-04-2021: Macrotech Developers, known as Lodha Developers, is coming out with a Fresh Issue of Equity shares aggregating upto Rs 2500 cr. The Face value is Rs 10. The Employee Reservation is Equity Shares aggregating upto Rs 30 cr. The Price band is Rs 483 – 486 and the Bid Lot is 30 Shares and in multiple thereof. Macrotech Developers Post IPO Implied Market Capitalisation will be Rs 21621 cr – 21740 cr.  The Macrotech Developers IPO opens tomorrow, 7th April, 2021 and closes on Friday, 9th April, 2021.

Macrotech Developers was incorporated as ‘Lodha Developers Private Limited’ on September 25, 1995. Macrotech Developers is the largest real estate developer in India, by residential Sales value for the financial years 2014 to 2020. Their core business is residential real estate developments with a focus on affordable and mid-income housing. Currently, they have residential projects in the Mumbai Metropolitan Region (“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. Ltd (“ESR”), a subsidiary of ESR Cayman Ltd., an Asia Pacific focused logistics real estate platform.

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Macrotech Developers has a strong presence in the Extended Western Suburb micro-market of the MMR, with the 2nd largest share of absorption (by value) and the 5th largest share of supply (of units) of residential developments, among the 5 largest developers in the respective micromarket, from 2015 to 2020

Macrotech Developers brands include “Lodha”, “CASA by Lodha” and “Crown – Lodha Quality Homes” for their affordable and mid-income housing projects, the “Lodha” and “Lodha Luxury” brands for their premium and luxury housing projects, and the “iThink”, “Lodha Excelus” and “Lodha Supremus” brands for their office spaces. Their in-house sales team is supported by a distribution network of multiple channels across India as well as key nonresident Indian (“NRI”) markets, such as the Gulf Cooperation Council, United Kingdom, Singapore and the United States

Macrotech Developers large on-going portfolio of affordable and mid-income housing projects includes Palava (Navi Mumbai), 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). Their large townships are located at Palava and Upper Thane. As part of their logistics and industrial park portfolio, they have planned to develop a logistics and industrial park of over 800 acres of land near Palava.