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Macrotech Developers Limited IPO (Lodha Developers IPO) Detail

Apr 7, 2021 - Apr 9, 2021

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 Size51,440,328 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

Lodha Developers IPO Subscription Status (Bidding Detail)

The Lodha Developers IPO is subscribed 1.36 times on 4/9/2021 5:00:00 PM. The public issue subscribed 0.40 in the retail category, 3.05 in the QIB category, and 1.44 in the NII category. Check Day by Day Subscription Details (Live Status)

Application Wise IPO Subscription (Retail): 0 times

CategorySubscription (times)
QIB3.05
NII1.44
Retail0.40
Employee0.17
Total1.36

Lodha Developers IPO Prospectus

Lodha Developers IPO Rating

1040
3.5
Rating:Rated 3.5 stars
Vote Here ...

Lodha Developers IPO Listing Date

Listing Date Monday, April 19, 2021
BSE Script Code 543287
NSE Symbol LODHA
Listing In B Group of Securities
ISIN INE670K01029
IPO Price ₹486 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO 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

Company Contact Information

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/

Lodha Developers IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: macrotech.ipo@linkintime.co.in
Website: https://linkintime.co.in/

Lodha Developers IPO FAQs

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 equity share. The minimum order quantity is 30 Shares.

The IPO opens on Apr 7, 2021, and closes on Apr 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

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Lodha Developers IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Lodha Developers IPO opens on Apr 7, 2021 and closes on Apr 9, 2021.

Lodha Developers IPO lot size is 30 Shares and the minimum order quantity is 30 Shares.

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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Lodha Developers IPO will be done on Apr 16, 2021, and the allotted shares will be credited to your demat account by Apr 20, 2021. Check the Lodha Developers IPO allotment status.

The Lodha Developers IPO listing date is on Monday, April 19, 2021.

Lodha Developers IPO Message Board

Ranked Members  Ranked Members

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147 Comments

63. INDIAWAY |Apr 11, 2021 9:22:18 PM
Top Contributor Top Contributor (300+ Posts, 1000+ Likes)
Any IPOs in this month itself?
62. JIgar A |Apr 11, 2021 11:01:08 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
@Aniketiaf sir,
Pls review Infosys buyback.
Thanks in advance
61. Amansonity |Apr 11, 2021 6:38:12 PM
GMP ?
60. sonal patel |Apr 11, 2021 9:20:41 PM
IPO Guru IPO Guru (1100+ Posts, 4700+ Likes)
Maharashtra CM meet with State Task Force concludes, no decision on lockdown or further restrictions today

CM to meet bureaucrats tonight at 9 pm & hold meeting with trade associations tomorrow

Any decision on further restrictions may be taken tomorrow.

Via|CNBC-TV18|
59. ipo share |Apr 11, 2021 3:42:40 PM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Only HDFC Mutual fund has partcipated.
58. P Patel |Apr 9, 2021 3:46:39 PM
IPO Mentor IPO Mentor (600+ Posts, 700+ Likes)
Due to Smartness of retailers, Retail portion is under subscribed. But with Retailers money QIB has subscribed their portion.

Ultimately retailers have to bare the loss - not Directly but In-Directly.
57. Gaurav Choudhary |Apr 9, 2021 4:34:00 PM
dilip Devda sir ji hame to samaj nhi aata kon sa person aapke risk par apply karta he ham ipo me pesa apne risk per hi lagate he jo tumara har ipo me review rhta he apply at your own risk. lagta he majak laga raka he
56. Maheshji |Apr 9, 2021 5:20:09 PM
Should I approve mandate?
55. Pritt |Apr 9, 2021 5:07:37 PM
apply 1 lot @ 483 can I get allotment?
54. ipobull |Apr 10, 2021 11:31:02 PM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
I won''t be surprised if the stock lists at premium since QIB portion is oversubscribed. However, the stock is bound to come down later purely based on its poor fundamentals.
53. DineshJain |Apr 10, 2021 12:28:14 PM
If some category/quota is not fully subscribed and the other category is oversubscribed, do the co. has the liberty of transferring the shares to other category after close of the IPO.
Here the quota amount of each category should also be mentioned in the general Info.
53.1. Devendra ipo |Jun 14, 2021 8:02:01 PM
which city
52. iamnimitshah |Apr 10, 2021 12:30:13 AM
Top Contributor Top Contributor (200+ Posts, 100+ Likes)
can we approve mandate till monday morning since this this ipo closed on friday?
51. GURUJI |Apr 9, 2021 5:20:06 PM
why nse and chittorgarh subscription status different?
50. IPO Funda |Apr 9, 2021 7:09:45 PM
such low subscription from Retailers tells the faith of the real man with this company, rather ppl should then also stay away in real life from the developments of this builder.
50.1. Lokesh Chiru |Jun 14, 2021 4:47:57 PM
@Johny, Agree that both the companies will subscribe heavily but Shyam will be subscribed more than Dodla because of valuation, being first IPO of the 4 in pipeline and metal sector/stocks are in demand. Dodla is little pricey.
49. Fakhru |Apr 9, 2021 6:30:44 PM
Whoever has invested in this IPO will cry on listing day. This IPO should have never come.
48. IPOMantra |Apr 9, 2021 2:36:22 PM
Lodha has many no of Internal company , however Macrotech is only engaged in Suburban area developments . South Bombay and Wadala area development is doing different company which is more profitable since each flat cost is more than 10 Cr , for eg World One , Kadivali Hi end project is not listed in the description. Now I given this basic information and do as per your discretion since ultimately money is yours. May be i wriiten wrong so please verify from your end.
47. Sarthak Deshmukh |Apr 9, 2021 5:32:16 PM
1)Company has give given around 5000cr loan to its related parties in FY20 and till that have made provision for doubtful debts to the extent of around 1100cr related to it.
(However giving loan to related parties seems to be normal in the Industry company operates in)

2)The above advance by company is at the Borrowing cost of 8.19%-8.25% while company''s own borrowing cost stands at around 12%.

3) Although amount being small around 28cr interest free loan being given to close family member of Key Managerial Person for 4 years .

4)Even after paying of debt of 1500cr from Fresh issue company will be left with Debt of around 17000cr...and company''s FCF/Interest is below 1 in FY18 and FY19...and just marginally above 1 in later times.

5)Finance cost also includes interest cost allocated to cost of project as part of accounting rule if borrowing taken and used in the project running that will become part of cost of project hence Adjusted EBITDA will be different from EBITDA.

6)NAV Calculations are the real charm for valuations of such companies based on unsold/Ongoing projects.
46. LeKKeR |Apr 9, 2021 5:10:45 PM
IPO Guru IPO Guru (1000+ Posts, 1700+ Likes)
More than 1CR shares from retail + employe quota will be going to QIB''s and HNI''s pockets.
45. KING VINOD |Apr 9, 2021 4:43:02 PM
IPO Guru IPO Guru (1400+ Posts, 3100+ Likes)
Macrotech Developers ( Lodha Developers ) Limited IPO
Latest Subscription Numbers on Last Day @ 3:40 pm
QIBs - 2.95X
HNIs - 1.28X
EMP - 0.16X
Retail - 0.39X
Total - 1.29X
Total No of Applications 163110 (Approx)
Retail Subscription on the basis of Application 0.28X
# GMP 5 - 6 (BUYER)
44. Regulagedda Ambica Prasad |Apr 9, 2021 4:25:41 PM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
This kind of rare subscription pattern is in the best interest of serious retail investors
I like it👍