Macrotech Developers previously called Lodha Developers filed a draft red herring prospectus (DRHP) with market regulator Sebi to raise about Rs 2,500 crore through an initial public offer (IPO), according to a media report. Lodha IPO includes primary issuance only and the proceeds shall be used to reduced debt, for acquiring new land and new Projects, said the leading business portal citing sources.
Earlier the real estate company tried to make its debut in 2009 and then in 2018, but deferred plans on unfavourable market dynamics.
As per the report, Axis Capital, JP Morgan and Kotak are the lead advisors followed by ICICI Securities, Edelweiss Securities, IIFL Securities, SBI Capital, JM Financial, Yes Securities and Bank of Baroda Capital for the issue.
The Group is known for luxury projects such as Trump Towers in Mumbai and Grosvenor Square in London.