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Lodha Developers IPO is a book built issue of Rs 2,500.00 crores.
Lodha Developers IPO bidding started from April 7, 2021 and ended on April 9, 2021. The allotment for Lodha Developers IPO was finalized on Friday, April 16, 2021. The shares got listed on BSE, NSE on April 19, 2021.
Lodha Developers IPO price band is set at ₹483 to ₹486 per share. The minimum lot size for an application is 30 Shares. The minimum amount of investment required by retail investors is ₹14,580.
Axis Capital Limited, Bob Capital Markets Limited, Edelweiss Financial Services Ltd, ICICI Securities Limited, Iifl Securities Ltd, J.P. Morgan India Private Limited, Jm Financial Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited and Yes Securities (India) Limited are the book running lead managers of the Lodha Developers IPO, while Link Intime India Private Ltd is the registrar for the issue.
Refer to Lodha Developers IPO RHP for detailed information.
| IPO Date | April 7, 2021 to April 9, 2021 |
| Listing Date | April 19, 2021 |
| Face Value | ₹10 per share |
| Price Band | ₹483 to ₹486 per share |
| Lot Size | 30 Shares |
| Total Issue Size | 51,440,328 shares (aggregating up to ₹2,500.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lodha Developers IPO offers 36,418,219 shares. 10,227,742 (28.08%) to QIB, 7,670,808 (21.06%) to NII, 17,898,551 (49.15%) to RII, 621,118 (1.71%) to employees. 596,618 RIIs will receive minimum 30 shares and (sNII) and (bNII) will receive minimum 420 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 10,227,742 (28.08%) | NA |
| NII (HNI) Shares Offered | 7,670,808 (21.06%) | |
| Retail Shares Offered | 17,898,551 (49.15%) | 596,618 |
| Employee Shares Offered | 621,118 (1.71%) | NA |
| Total Shares Offered | 36,418,219 (100%) |
Lodha Developers IPO opens on April 7, 2021, and closes on April 9, 2021.
| IPO Open Date | Wednesday, April 7, 2021 |
| IPO Close Date | Friday, April 9, 2021 |
| Basis of Allotment | Friday, April 16, 2021 |
| Initiation of Refunds | Monday, April 19, 2021 |
| Credit of Shares to Demat | Tuesday, April 20, 2021 |
| Listing Date | Monday, April 19, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 9, 2021 |
Investors can bid for a minimum of 30 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹14,580 |
| Retail (Max) | 13 | 390 | ₹189,540 |
| Lot Size Calculator | |||
Abhishek Mangal Prabhat Lodha, Rajendra Narpatmal Lodha, Sambhavnath Infrabuild and Sambhavnath Trust are the company promoters.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue |
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
| Particulars | For the year/period ended (ā¹ 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 | |
The IPO aims to raise money for the following purposes;
[Dilip Davda] Based on its last three offer documents comparisons, latest financial data and rising scare following recurrence of pandemic, immediate future appears gloomy. The issue is priced at a negative P/E based on FY21-9M workings. Though IPO pricing appears lucrative, based on its current working and likely impact of continued corona scare in near term, its ĆĀ¢Ć¢āĀ¬Ć āHigh Risk-Low ReturnĆĀ¢Ć¢āĀ¬ĆĀ proposal. Considering all these, cash surplus - risk savvy investors may consider investment at their own risks in this IPO having negative P/E. Read detail review...
The Lodha Developers IPO is subscribed 1.36 times on April 9, 2021 5:00:00 PM. The public issue subscribed 0.40 times in the retail category, 3.05 times in the QIB category, and 1.44 times in the NII category. Check Day by Day Subscription Details (Live Status)
Application Wise IPO Subscription (Retail): 0 times
| Category | Subscription (times) |
|---|---|
| QIB | 3.05 |
| NII | 1.44 |
| Retail | 0.40 |
| Employee | 0.17 |
| Total | 1.36 |
| Listing Date | April 19, 2021 |
| BSE Script Code | 543287 |
| NSE Symbol | LODHA |
| ISIN | INE670K01029 |
| Final Issue Price | ₹486 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹486.00 |
| ₹439.00 |
| ₹421.15 |
| ₹477.90 |
| ₹463.15 |
| NSE |
|---|
| ₹486.00 |
| ₹436.00 |
| ₹422.60 |
| ₹478.00 |
| ₹465.25 |
Macrotech Developers Limited
412, Floor -4, 17G, Vardhaman Chamber,
Cawasji Patel Road, Horniman Circle, Fort,
Mumbai - 400 001
Phone: +91 22 2302 4400
Email: investorrelations@lodhagroup.com
Website: https://www.lodhagroup.in/
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: macrotech.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
Lead Manager Reports
Lodha Developers IPO is a main-board IPO of 51,440,328 equity shares of the face value of ₹10 aggregating up to ₹2,500.00 Crores. The issue is priced at ₹483 to ₹486 per share. The minimum order quantity is 30 Shares.
The IPO opens on April 7, 2021, and closes on April 9, 2021.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Lodha Developers IPO using UPI as a payment gateway. Zerodha customers can apply in Lodha Developers IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Lodha Developers IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Lodha Developers IPO opens on April 7, 2021 and closes on April 9, 2021.
Lodha Developers IPO lot size is 30 Shares, and the minimum amount required is ₹14,580.
You can apply in Lodha Developers IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Lodha Developers IPO will be done on Friday, April 16, 2021, and the allotted shares will be credited to your demat account by Tuesday, April 20, 2021. Check the Lodha Developers IPO allotment status.
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Issue Size : 1,23,54,811 shares (Expected IPO Size approx 2,000 crore)
Retail Portion : 10% of the Issue Size