Stocks

Ahead of IPO, Macrotech raises ₹740 cr

Our Bureau Mumbai | Updated on April 06, 2021

Macrotech Developers Ltd (erstwhile Lodha Developers Ltd) has raised ₹740 crore from 14 anchor investors, ahead of its initial public offering (IPO) which opens for subscription on Wednesday. The company has allocated 1.52 crore shares at ₹486 per share to anchor investors – 12 foreign portfolio investors (FPIs) and two domestic investors – on Tuesday. The company allocated about 1.45 crore shares for about ₹705 crore to FPIs and 7.3 lakh shares for about ₹35.3 crore to domestic investors, it informed the bourses. This is the third attempt by the firm to raise funds via an IPO.

Published on April 06, 2021

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