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.








Company Financials:

 

Summary of financial Information (Restated Consolidated)

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

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.



Lodha Developers IPO Details

IPO Opening Date

Apr 7, 2021

IPO Closing Date

Apr 9, 2021

Issue Type

Book Built Issue IPO

Face Value

₹10 per equity share

IPO Price

₹483 to ₹486 per equity share

Market Lot

30 Shares

Min Order Quantity

30 Shares

Listing At

BSE, NSE

Issue Size

51,440,328 Eq Shares of ₹10
(aggregating up to ₹2,500.00 Cr)

Lodha Developers IPO Tentative Timetable

The Lodha Developers IPO open date is Apr 7, 2021, and the close date is Apr 9, 2021. The issue may list on Apr 22, 2021.

IPO Open Date

Apr 7, 2021

IPO Close Date

Apr 9, 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

Lodha Developers IPO Lot Size

The Lodha Developers IPO market lot size is 30 shares. A retail-individual investor can apply for up to 13 lots (390 shares or ₹189,540).

Application

Lots

Shares

Amount (Cut-off)

Minimum

1

30

₹14,580

Maximum

13

390

₹189,540

Lodha Developers IPO Promoter Holding

Pre Issue Share Holding

100%

Post Issue Share Holding