Stocks

Macrotech IPO subscribed fully

Our Bureau Chennai | Updated on April 09, 2021

The initial public offering of Macrotech Developers was subscribed 1.36 times on the last day of the issue, on Friday. The IPO received bids for 4.94 crore shares as against 3.64 crore shares on offer. The portion reserved for retail investors was subscribed 0.4 times, non-institutional investors’ quota was subscribed 1.44 times, and that of qualified institutional buyers got subscribed 3.05 times.

The portion reserved for employees was subscribed 0.17 times. The issue opened for subscription on Wednesday and closed on Friday. The IPO was a fresh issuance of equity shares of ₹10 face value aggregating up to ₹2,500 crore. The price band has been fixed at ₹483 – 486 a share. Ahead of the issue, Macrotech Developers, also known as Lodha Developers, has raised ₹740 crore from 14 anchor investors. The company informed the bourses that it has allocated 1.52 crore shares at ₹486 a share to anchor investors.

Published on April 09, 2021

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