Macrotech Developers IPO Share Allotment

Macrotech Developers, formerly known as Lodha Developers, a Mumbai-based real estate firm. Macrotech Developers IPO share allotment scheduled to complete this week. This was the first initial public offering of the fiscal year 2021-22.

The public offering was successfully completed on the last day of bidding, with eligible institutional buyers (QIB) subscribing 1.36 times between April 7-9, 2021. As a response, the firm was able to secure Rs 2,500 crore in funding from investors.

Table of Contents

Subscription

The allocated section of QIB was subscribed 3.05 times by institutional investors and 1.44 times by non-institutional investors, whereas the percentage allocated for individual investors was subscribed 40% by retail investors & 17% by staff.

It was very disappointing to see even employees were no interested in their own company. While retail investors are in fear after witnessing 2-3 IPOs listing back to back on discount in March 2021. However, Qualified Institutional Buyers help the company to get fully subscribed.

Fund Usages

After deducting bid costs, the firm plans to use the net issue proceeds to repay debts and purchase property or land creation rights.

Allotment date

Macrotech Developers IPO share allotment will be on April 16 in collaboration with merchant bankers, according to the prospectus timetable.

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Allotment Status

To confirm the Macrotech Developers IPO share allotment, you have 2 choices:

On the BSE website, participants can check the status of their share submission. In the dropdown, choose ‘equity’ as the issue form and ‘Macrotech Developers Ltd’ as the issue name. Finally, click on’search’ after entering ‘application number’ as well as ‘PAN number’.

In two simple steps, you can confirm the allotment status on the IPO registrar’s Link Intime portal. In the dropdown menu, choose ‘Macrotech Developers – IPO.’ ‘PAN,’ ‘Application Number,’ or ‘DP Client ID’ are the options. Ultimately, press the search button.

The quantity of shares applied for and the quantity of shares allocated to appear on the screen if any of the above detail given by the investor is right.

Refund

The deposits will be reimbursed to anchor holders, if any, and unblocked from the ASBA account near April 19 after the Macrotech Developers IPO share allotment will be finalized.

Approximately April 20, equity shares will be transferred to qualifying investors’ demat accounts, and transactions in equity shares will begin around April 22.

Owing to two upcoming market holidays, the listing of equity shares will be postponed. On April 14, Dr. Baba Saheb Ambedkar Jayanti, and April 21, Ram Navami, the exchanges will be closed.

Macrotech Developers IPO GMP

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About company

Macrotech Developers is among Country’s biggest real estate developers in terms of residential total revenue from 2014 to 2020. The affordable and mid-income housing category generated 57.77 percent of the organization’s total revenue in FY2020.

It presently has 36 active developments totaling around 28.78 million square feet of developable land, with 23.57 million square feet dedicated to low- and middle-income housing.

Competitors

After witnessing that Marcotech Developers IPO is fully subscribed. Now Shriram properties also coming up with their IPO in this fiscal year 2021-22.

They file the documents with Sebi on 09 April 2021. However, They filled it in 2018 as well but didn’t lunched the IPO even after getting SEBI approval.