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Macrotech Developers IPO is a book build issue of ₹2,500.00 crores. The issue is entirely a fresh issue of 5.14 crore shares of ₹2,500.00 crore.
Macrotech Developers IPO bidding started from Apr 7, 2021 and ended on Apr 9, 2021. The allotment for Macrotech Developers IPO was finalized on Apr 16, 2021. The shares got listed on BSE, NSE on Apr 19, 2021.
Macrotech Developers IPO price band is set at ₹486.00 per share . The lot size for an application is 30. The minimum amount of investment required by an retail is ₹14,490 (30 shares). The lot size investment for sNII is 14 lots (420 shares), amounting to ₹2,04,120, and for bNII, it is 69 lots (2,070 shares), amounting to ₹10,06,020.
The issue includes a reservation of up to 6,17,283 shares for employees offered at a discount of ₹0.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Macrotech Developers IPO RHP for detailed Information.
| IPO Date | April 7, 2021 to April 9, 2021 |
| Listing Date | April 19, 2021 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹483 to ₹486 per share |
| Issue Price Final | ₹486 per share |
| Lot Size | 30 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 5,14,40,328 shares (aggregating up to ₹2,500.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 39,58,78,000 shares |
| Share Holding Post Issue | 44,73,18,328 shares |
Lodha Developers IPO offers total 5,14,40,328 shares. Out of which 2,54,11,522 (49.40%) allocated to QIB, 1,01,64,609 (19.76%) allocated to QIB, 76,23,457 (14.82%) allocated to NII, 1,77,88,066 (34.58%) allocated to RII and 1,52,46,913 (29.64%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 2,54,11,522 (49.40%) | NA |
| − Anchor Investor Shares Offered | 1,52,46,913 (29.64%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,01,64,609 (19.76%) | NA |
| NII (HNI) Shares Offered | 76,23,457 (14.82%) | NA |
| Retail Shares Offered | 1,77,88,066 (34.58%) | 5,92,935 |
| Employee Shares Offered | 6,17,283 (1.20%) | NA |
| Total Shares Offered | 5,14,40,328 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Macrotech Developers IPO opens on April 7, 2021, and closes on April 9, 2021.
| IPO Open Date | Wed, Apr 7, 2021 |
| IPO Close Date | Fri, Apr 9, 2021 |
| Tentative Allotment | Fri, Apr 16, 2021 |
| Initiation of Refunds | Mon, Apr 19, 2021 |
| Credit of Shares to Demat | Tue, Apr 20, 2021 |
| Tentative Listing Date | Mon, Apr 19, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Apr 9, 2021 |
Investors can bid for a minimum of 30 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹14,580 |
| Retail (Max) | 13 | 390 | ₹1,89,540 |
| S-HNI (Min) | 14 | 420 | ₹2,04,120 |
| S-HNI (Max) | 68 | 2,040 | ₹9,91,440 |
| B-HNI (Min) | 69 | 2,070 | ₹10,06,020 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1995, Macrotech Developers [Formerly known as Lodha Developers] is the largest real estate developer in India. The company is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also develop commercial real estate.
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) are some of its affordable and mid-income housing projects. Company generates maximum revenue from this segment as in the fiscal 2020, the revenue from this segment accounted for 57.77%.
Under the logistic and industrial park portfolio, it has planned to develop an industrial park of over 800 acres of land near Palava. However, the commercial real estate portfolio includes projects like corporate offices, IT campuses, and boutique office spaces. As on Dec 31 2020, the firm has successfully completed 91 projects comprising 77.22 million sq. ft. of developable area, with 59.13 million sq. ft. in the affordable housing segment.
Competitive Strengths
| 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 | |
The Company Macrotech Developers IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Reduction of the aggregate outstanding borrowings of our Company on a consolidated basis | 1,500.00 |
| 2 | Acquisition of land or land development rights | 375.00 |
| 3 | General corporate purposes | 532.77 |
[Dilip Davda] Based on its last three offer documents comparisons, latest financial data and rising scare following recurrence of pandemic, immediate future appears gloomy. The issue is priced at a negative P/E based on FY21-9M workings. Though IPO pricing appears lucrative, based on its current working and likely impact of continued corona scare in near term, its “High Risk-Low Return†proposal. Considering all these, cash surplus - risk savvy investors may consider investment at their own risks in this IPO having negative P/E. Read detail review...
| Listing Date | April 19, 2021 |
| BSE Script Code | 543287 |
| NSE Symbol | LODHA |
| ISIN | INE670K01029 |
| Final Issue Price | ₹486 per share |
| BSE Listing Group | B |
Macrotech Developers Ltd.
412, Floor -4, 17G, Vardhaman Chamber,
Cawasji Patel Road,
Horniman Circle, Fort,
Mumbai, Maharashtra, 400001
Phone: +91 22 2302 4400
Email: investorrelations@lodhagroup.com
Website: https://www.lodhagroup.in/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: macrotech.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Lead Manager Reports
Macrotech Developers IPO is a main-board IPO of 5,14,40,328 equity shares of the face value of ₹10 aggregating up to ₹2,500.00 Crores. The issue is priced at ₹486 per share. The minimum order quantity is 30.
The IPO opens on April 7, 2021, and closes on April 9, 2021.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Macrotech Developers IPO using UPI as a payment gateway. Zerodha customers can apply in Macrotech Developers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Macrotech Developers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Macrotech Developers IPO opens on April 7, 2021 and closes on April 9, 2021.
Macrotech Developers IPO lot size is 30, and the minimum amount required for application is ₹14,580.
You can apply in Macrotech Developers IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Macrotech Developers IPO will be done on Friday, April 16, 2021, and the allotted shares will be credited to your demat account by Tuesday, April 20, 2021. Check the Macrotech Developers IPO allotment status.
The Macrotech Developers IPO listing date is on Monday, April 19, 2021.
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