Macrotech Developers IPO subscription disappoints so far; listing gains on investors minds?

Macrotech Developers IPO subscription is just 0.27 times. The public issue subscribed 0.16 times in the retail category, 0.58 times in QIB, and 0.11 times in the NII category by Apr 8, 2021 10 am. Many Analysts believe that the Macrotech Developers IPO subscription price is on the higher side and may not give listing gains to investors. This IPO was one of the most awaited in 2021. Many analysts believed that with revival in the real estate sector, this IPO could generate good demand. However, the numbers are indicating that investors are reluctant to invest in this IPO.

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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 opened yesterday and closes tomorrow 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.