Macrotech Developers IPO

Macrotech Developers or Lodha Developers filed its first initial public offering document in September 2009 to raise approximately ₹ 2,800 crore but terminated the scheme after the 2008 global financial crisis. They plan to go public in 2018 was also withdrawn due to some company issues. Now Macrotech Developers IPO open for the public on 7 April 2021.

Lodha Developers stock start trading on NSE (National Stock Exchange) and BSE (Bombay Stock Exchange) on 19 April 2021.

About

Started in 1995, Mumbai-based Macrotech Developers or Lodha Developers Limited is a company engaged in the business of real estate development. According to Liases Foras, it was one of the largest real estate developer in India by residential sales.

The firm develops real estate in residential and commercial space in the Mumbai Metropolitan Region (“MMR”), Pune and London. In the residential area, it offer properties with unit values ​​ranging from Rs 3.50 million to Rs 590 million. In the commercial area, it offers office and retail projects on the lease model and sales model.

Brands

The company focuses on branded realty and owns several brands like”Lodha by Cada” for affordable projects, “Lodha” for premium projects and “Lodha Luxury”. In the office space, its brands include “iThink”, “Lodha Excelus” and “Lodha Supremus”.

The company has seen sales of around INR 6,570 crore with a gross collection of more than INR 8,190 crore for FY19-20 and recorded a full developed area of ​​15.65 million sq.ft.

They successfully delivered a staggering 19,670 homes in FY 17-18 and FY 18-19, out of which 15,800 homes were delivered prematurely, i.e. 4 out of every 5 houses were delivered prematurely went. Over 2,000 of their employees continuously work for growth with exceptional quality and a passion for the finest homes, offices and retail distribution.

Positive points

• They work closely with designers for a sustainable design that maximizes the presence of natural air, light within the apartment, to ensure low energy usage.
• Use of solar energy in general areas for most development; A megawatt solar power park that provides energy to buildings within Palawa
• Rainwater harvesting and recycling of 100% waste water in most of the development
• Large scale landscaping and tree planting on all resources – recycling of waste materials to ensure conservation of resources
• Professional development with water-efficient landscaping, wastewater treatment reuse mechanisms and increased ventilation
• Member of the American Green Building Council, who is actively promoting the green building concept in India
• Positive Financial trends
• Experienced Promoters and Management

Promoters

The Main Promoters of the company are Abhishek mangal, Prabhat Lodha, Rajendra narpat mal lodha, Sambhavnath infrabuild and Sambhavnath trust

Financials Trends

Particulars	For the year/period ended ( in Cr.)
	31-Dec-20	31-Mar-20	31-Mar-19	31-Mar-18
Total Assets	40,594.61	40,692.55	49,863.94	47,811.27
Total Revenue	2,915.01	12,442.59	11,906.97	13,527.19
Profit After Tax	(264.30)	744.83	1,643.97	1,789.39

Objects of the Issue

• Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
• To meet common corporate objectives
• Obtaining land or land development rights

Macrotech Developers IPO Details

IPO Opening Date	07 April 2021
IPO Closing Date	09 April 2021
Issue Type	Book Built
Face Value	10 per  share
IPO Price	483 to 486 per equity share
Market Lot	30
Min Order Quantity	30
Listing At	BSE, NSE
Issue Size	2500.00 Cr
Fresh Issue	30.00 Cr
Offer for Sale	2470.00 Cr

IPO Tentative Date

The Macrotech Developers IPO open date is 07 April, 2021, and the close date is 09 April, 2021. The issue may list on 22 April, 2021.

IPO Open Date	07 April, 2021
IPO Close Date	09 April, 2021
Basis of Allotment Date	16 April, 2021
Initiation of Refunds	16 April, 2021
Credit of Shares to Demat Account	16 April, 2021
IPO Listing Date	19 April, 2021

Macrotech Developers IPO GMP

Macrotech developers IPO Grey market premium is around INR 20 on 06 April 2021.

Macrotech Developers IPO Review

As of now no one from big brokerage firms has reviewed this IPO. However, Profit must advise you to avoid this IPO as valuations and previous track record of the company is not so impressive. Although if you have long term view than you can try with one lot in retail category.

Promoter Holding

Pre Issue Share Holding	100%
Post Issue Share Holding