Macrotech Developers Limited IPO Detail
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
- Largest residential real estate developer in India.
- Strong sales distribution network across India as well as NRI markets i.e. GCC, UK, Singapore, and US.
- Brand equity and premium pricing.
- Strong project execution capabilities.
- Experienced management team.
Company Promoters
Abhishek Mangal Prabhat Lodha, Rajendra Narpatmal Lodha, Sambhavnath Infrabuild and Sambhavnath Trust are the company promoters.IPO Details
| IPO Opening Date | Apr 07, 2021 |
| IPO Closing Date | Apr 09, 2021 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹483 - 486 per equity share |
| Market Lot | 30 Shares |
| Min Order Quantity | 30 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹2,500 Cr |
| Fresh Issue | - |
| Offer for Sale | - |
| Retail Portion | - |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.58x | - | - | 0.11x | 0.15x | 0.26x |
| Day 2 | 0.65x | - | - | 0.19x | 0.25x | 0.35x |
| Day 3 | 3.05x | - | - | 1.44x | 0.40x | 1.36x |
IPO Tentative Timetable
The Macrotech Developers Limited IPO open date is Apr 07, 2021, and the close date is Apr 09, 2021. The issue may list on Apr 22, 2021.
| IPO Open Date | Apr 07, 2021 |
| IPO Close Date | Apr 09, 2021 |
| Basis of Allotment Date | Apr 16, 2021 |
| Initiation of Refunds | Apr 19, 2021 |
| Credit of Shares to Demat Account | Apr 20, 2021 |
| IPO Listing Date | Apr 22, 2021 |
IPO Lot Size
The Macrotech Developers Limited IPO market lot size is 30 shares. A retail-individual investor can apply for up to 13 lots (390 shares or ₹189540).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 30 | ₹14580 |
| Maximum | 13 | 390 | ₹189540 |
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Crs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Dec-20 | 4,05,946.16 | 31,604.85 | 2,643.02 |
| 31-Mar-20 | 4,06,925.56 | 1,25,609.85 | 7,448.36 |
| 31-Mar-19 | 4,98,639.40 | 1,19,788.67 | 16,439.77 |
| 31-Mar-18 | 4,78,112.76 | 1,37,265.69 | 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.
