Should you subscribe to Lodha IPO?

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Should you subscribe to Lodha IPO?

Brokerages advise subscribing the offer as valuations are attractive compared to its listed peers, likely debt reduction through IPO, possible consolidation in the real estate sector and strong project portfolio. Its plan to reduce net debt to Rs 12,700 crore in the coming quarters negates concern over high leveraging.

How many times Lodha Developers IPO subscribed?

Lodha Developers IPO subscribed 1.36 times. The public issue subscribed 0.40 times in the retail category, 3.05 times in QIB, and 1.44 times in the NII category by Apr 9, 2021.

Should I buy Macrotech developers share?

Moneycontrol / Market / Share/Stock Price /

How is Lodha Developers IPO?

MUMBAI: The initial public offering (IPO) of Macrotech Developers Ltd, earlier known as Lodha Developers, was subscribed 103\% as of 1420IST on Friday – the final day of the bidding. The IPO saw a robust response, led by qualified institutional buyers and non-institutional investors.

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What is today Lodha IPO?

Macrotech Developers Ltd’s, erstwhile Lodha Developers, which recently raised Rs 2,500 crore through initial public offering (IPO), on Friday informed that it will list its equity shares on stock exchanges on Monday, April 19, 2021. The issue was sold from April 7-9, in the price band of Rs 483-486 per share.

How many times did IPO subscribe to Macrotech?

Macrotech Developers IPO Final Day: Issue Subscribed 1.36 Times, QIB Portion Booked 3.05 Times.

Why did Lodha change name to macro tech?

NEW DELHI: As Macrotech Developers readied to hit the market with its IPO, what is puzzling investors is the name change: after all the branding and projects launched under the Lodha name, Lodha Developers changed its name. “The company had a merger of its existing company, Macrotech Developers, in 2019.

What do Macrotech developers do?

Macrotech Developers, earlier known as Lodha Developers, is one of the largest real estate developers in India, by residential sales value for the financial years 2014 to 2020. The company will utilise net issue proceeds for repaying of debts, and acquisition of land or land development rights.

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What is Lodha IPO?

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.

How many times Macrotech developers IPO subscribed?

The Rs 2,500-crore initial public offering (IPO) of Lodha Group’s Macrotech Developers has subscribed 1.36 times on April 9 (Friday), the last day of bidding.

Who is vinti Lodha husband?

Mangal Prabhat Lodha (born 1 December 1955) is a businessman and politician.

How many times issue size of Lodha Developers IPO received bids?

Lodha Developers IPO received bids for 0.40 times issue size in retail, 3.05 times issue size in QIB, and 1.44 times issue size in the Non-institutional category by Apr 9, 2021 17:00. Lodha Developers IPO is a public issue of 36,418,219 equity shares.

Why is Lodha IPO priced at negative P/E at 9m FY21?

Lodha group planned to launch its maiden IPO since Sept. 2009. BRLMs and the issue size kept changing every time as indicated in three draft offers. Its top line has shown inconsistency while bottom line kept declining. Based on negative earnings for 9M FY21, issue is priced at negative P/E.

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What is the net debt of levellodha developers?

Lodha developers reported revenue of Rs 2,920 crore with EBITDA of 770 crores in 9MFY2021. The company’s net debt of Rs 16, 700 crore as of December 2020, is a very high number, and the company is focusing on deleveraging its balance sheet from the proceeds of the IPO, said Yash Gupta Equity Research Associate, Angel Broking Ltd.

Who subscribed 103\% to Macrotech developers’ IPO?

Updated: 09 Apr 2021, 03:32 PM IST Ravindra N. Sonavane MUMBAI: The initial public offering (IPO) of Macrotech Developers Ltd, earlier known as Lodha Developers, was subscribed 103\% as of 1420IST on Friday – the final day of the bidding. The IPO saw a robust response, led by qualified institutional buyers and non-institutional investors.