Stocks

Macrotech Developers IPO receives 1.36 times subscription on last day

PTI New Delhi | Updated on April 09, 2021

The initial public offer of realty major Macrotech Developers was subscribed 1.36 times on the last day of subscription on Friday.

The ₹2,500-crore issue received bids for 4,94,64,480 shares against 3,64,18,219 shares on offer, as per NSE data.

The portion meant for qualified institutional buyers (QIBs) was subscribed 3.05 times, non-institutional investors 1.44 times and retail individual investors (RIIs) 40 per cent.

The price range for the offer, which hit the capital market on Wednesday, was fixed at ₹483-486 per share.

Macrotech Developers Ltd, erstwhile Lodha Developers, on Tuesday raised ₹740 crore from anchor investors.

This was the third attempt by Lodha Developers to launch a public issue and list its shares on the stock exchanges. In 2009 and 2018, the company had filed IPO documents and also got Sebi approval but did not hit the capital market as market conditions were not conducive.

Published on April 09, 2021

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