Lodha Developers IPO is opening for subscription from 07 April 2021. the company aims for an issue size of ₹2,500 Crore through this IPO.
Also read: IPO List 2021: a complete list of IPOs in 2021
Macrotech Developers Limited
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 of 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.
Objects of the Issue
- To reduce aggregate outstanding borrowings of the company on a consolidated basis.
- For acquiring land or land development rights.
- To meet general corporate purposes.
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.
Basic details about the company
| Full name | Macrotech Developers Limited |
| Sector | REALTY |
| Industry | Construction-Real estate |
| Company Website | www.lodhagroup.in |
Dates to remember
| IPO Open | 07 April 2021 |
| IPO Close | 09 April 2021 |
| Basis of Allotment | 16 April 2021 |
| Refunds date | 19 April 2021 |
| Credit to Demat Account | 20 April 2021 |
| Listing Date | 22 April 2021 |
IPO details
| Issue type | Book Built Issue |
| IPO issue size | ₹2,500 Cr |
| No of shares offered | 51,440,328 shares |
| Face value | ₹10 per equity share |
| Price band | ₹483 to ₹486 per equity share |
| Retail Allocation | 35% |
| Lot size | 30 Shares |
| Minimum application | 1 Lot-30 Shares |
| Maximum application | 13 Lots-390 shares |
| Minimum application amount | ₹14,580 |
| Maximum application amount | ₹189,540 |
| Listing Exchange | BSE & NSE |
Financial summary
| FY2018 | FY2019 | FY2020 | 9M FY2021 | |
| Revenue | 13,726.6 | 11,979.9 | 12,561.0 | 3,160.5 |
| Expenses | 11,017.0 | 9,490.0 | 11,560.2 | 3,218.8 |
| Comprehensive income | 1,767.9 | 1,641.6 | 732.5 | -259.3 |
| Margin (%) | 12.9 | 13.7 | 5.8 | -8.2 |
| 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 |
Valuation of Lodha Developers (as of FY2020)
| Earnings Per Share (EPS) | ₹18.46 |
| Price/Earnings (PE ratio) | to be updated |
| Return on Net Worth (RONW) | 17.8% |
| Net Asset Value (NAV) | ₹103.86 per share |
Company Promoters
- Abhishek Mangal Prabhat Lodha
- Rajendra Narpatmal Lodha
- Sambhavnath Infrabuild
- Sambhavnath Trust
Lead Managers
- Axis Capital Limited
- BOB Capital Markets Limited
- Edelweiss Financial Services Ltd
- ICICI Securities Limited
- IIFL Holdings Limited
- J.P. Morgan India Private Limited
- JM Financial Consultants Private Limited
- Kotak Mahindra Capital Company Limited
- SBI Capital Markets Limited
- Yes Securities (India) Limited
Registrar of Lodha Developers IPO
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg
Vikhroli (West), Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: macrotech.ipo@linkintime.co.in
Website: http://www.linkintime.co.in
Company Contact Details
Macrotech Developers Limited
Lodha Excelus, L 2,
N M Joshi Marg, Mahalaxmi,
Mumbai 400 011
Phone: +91 22 2302 4400
Email: investorrelations@lodhagroup.com
Website: www.lodhagroup.in
Lodha Macrotech Developers IPO Allotment Status
Macrotech Developers IPO allotment status will be available on Link Intime’s website.
Click on this link to get allotment status.
Final thoughts
Lodha Developers IPO is going to hit Dalal street soon. applying for IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make a wise decision.
Happy Investing
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