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 DateApr 7, 2021
IPO Closing DateApr 9, 2021
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price₹483 to ₹486 per equity share
Market Lot30 Shares
Min Order Quantity30 Shares
Listing AtBSE, 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 DateApr 7, 2021
IPO Close DateApr 9, 2021
Basis of Allotment DateApr 16, 2021
Initiation of RefundsApr 19, 2021
Credit of Shares to Demat AccountApr 20, 2021
IPO Listing DateApr 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).

ApplicationLotsSharesAmount (Cut-off)
Minimum130₹14,580
Maximum13390₹189,540

Lodha Developers IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding

Lodha Developers IPO Subscription Status (Bidding Detail)

The Lodha Developers IPO is subscribed 1.36x times on Apr 9, 2021 17:00. The public issue subscribed 0.40x in the retail category, 3.05x in the QIB category, and 1.44x in the NII category. Check Day by Day Subscription Details (Live Status)

CategoryIPO Subscription
QIB

3.05x

NII

1.44x

RII

0.40x

Employee

0.17x

Total

1.36x

Lodha Developers IPO Prospectus

Lodha Developers IPO Rating

1040
3.5
Rating:Rated 3.5 stars

Vote Here ...

Lodha Developers IPO Listing Date

Listing DateMonday, April 19, 2021
BSE Script Code543287
NSE SymbolLODHA
Listing InB Group of Securities
ISININE670K01029
IPO Price₹486 per equity share
Face Value₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume
BSE
₹486.00
₹439.00
₹421.15
₹477.90
₹463.15
332,874
NSE
₹486.00
₹436.00
₹422.60
₹478.00
₹465.25
11,051,365

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
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

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

Lodha Developers IPO FAQs

  1. What is Lodha Developers IPO?

    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.

  2. How to apply in Lodha Developers IPO through Zerodha?

    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.

  3. When Lodha Developers IPO will open?

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

  4. What is the lot size of Lodha Developers IPO?

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

  5. How to apply for Lodha Developers IPO?

    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.

  6. When Lodha Developers IPO allotment?

    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.

  7. When is Lodha Developers IPO listing date?

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

Lodha Developers IPO Message Board

Ranked Members  Ranked Members

Loading...
63. INDIAWAY |Apr 11, 2021 20:22
Any IPOs in this month itself?
62. JIgar A |Apr 11, 2021 22:01
@Aniketiaf sir,
Pls review Infosys buyback.
Thanks in advance
61. Amansonity |Apr 11, 2021 17:38
GMP ?
60. sonal patel |Apr 11, 2021 20:20
IPO Mentor IPO Mentor (900+ Posts, 4000+ 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 14:42
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Only HDFC Mutual fund has partcipated.
58. P Patel |Apr 9, 2021 14:46
IPO Mentor IPO Mentor (500+ Posts, 500+ 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 15:34
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 16:20
Should I approve mandate?
55. Pritt |Apr 9, 2021 16:07
apply 1 lot @ 483 can I get allotment?
54. ipobull |Apr 10, 2021 22:31
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 11:28
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 19:02
which city
52. iamnimitshah |Apr 9, 2021 23:30
can we approve mandate till monday morning since this this ipo closed on friday?
51. GURUJI |Apr 9, 2021 16:20
why nse and chittorgarh subscription status different?
50. IPO Funda |Apr 9, 2021 18:09
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 15:47
@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 17:30
Whoever has invested in this IPO will cry on listing day. This IPO should have never come.
48. IPOMantra |Apr 9, 2021 13:36
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 16:32
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 16:10
IPO Guru IPO Guru (1000+ Posts, 1600+ 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 15:43
IPO Guru IPO Guru (1400+ Posts, 3000+ 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 15:25
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👍







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