Macrotech Developers IPO listing today: Zee Business Managing Editor Anil Singhvi said that Macrotech Developers received muted response from investors and hence it is difficult to tell at what price the new IPO will list as it was subscribed by 1.36 times, but that too only by the final day of bidding. Singhvi said that the IPO received poor response as it was priced on a higher side, leaving no listing gains for the Investors.

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Singhvi said that the Macrotech Developers is available at 15% to 20% below the issue price due to weakness in markets. Then Investors should invest as it becomes attractive for Investment.

Macrotech Developers will list on stock exchanges today, i.e. on Monday, April 19. The initial public offering (IPO) of the real estate major was open for subscription from April 7-9, 2021. The IPO had a price band of Rs 483-486 per share. The real estate developer wanted to raise Rs 2,500 crore through the fresh issuance of shares. 

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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.

 

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