Reality developer Lodha Group has been granted permission to present IPO from the Securities and Exchange Board of India (SEBI). This will be the largest IPO in the Indian Realty market in the past decade.
It will be the second largest reality IPO in the country. Earlier, in the year 2007, DLF raised Rs 9,200 crore through its IPO. Lodha Developers had filed a red herring prospectus for IPO in April 2018 under Sebi.
SEBI has given the company ‘Observation’. It is important that any company is required to get ‘observation’ from SEBI before introducing an IPO. A person related to the case said that the company could raise Rs 750 crore through 95 lakh shares in pre-IPO placement.
Lodha Developers have projects in Mumbai, Pune and London. The company is planning to raise Rs 5,500 crore via its IPO. In this, the company will issue fresh shares of Rs 3,750 crore, while the balance will be raised by selling the shareholder’s shareholding.
In the proposed offer, the value of the company is Rs 38,000 crore. After listing, the company will be the basis of Marketkap, the largest real estate company in the country. At present, DLF is on top of the list, whose market cap is around Rs 33,500 crore.
Lodha Developers is also the country’s top reality company in terms of sales. The company’s projects are also in the UK with many cities in India. The revenue of the company was Rs 7,926 crore in the financial year 17, whereas in the first nine months of the financial year 18, the revenues of the company were Rs 6,599 crore.
In April, the petition to present an IPO is the second attempt of this company. Earlier in September 2009, Lodha Developers had approached the market regulator. However, the Securities and Exchange Board of India (SEBI).
Lodha Developers IPO Reviews:
- To Be Updated Soon
Lodha Developers IPO Details
|Subscription Dates||-July to -July-2018|
|Issue Price Band||INR|
|Minimum bid (lot size)||Shares|
|Face Value||INR 10 per share|
|IPO Size||INR 3750 Cr|
|Issue Type||Book Built Issue IPO|
|Listing At||BSE, NSE|
Lodha Developers IPO Financial Performance (in INR crore)
Lodha Developers IPO Subscription Status
|Category||Day 1||Day 2||Day 3|
Lodha Developers IPO Prospectus:
- Draft Prospectus
- Red Herring Prospectus
Lodha Developers IPO Lead Manager(s):
- BOB Capital Markets Limited
- CLSA India Private Limited
- HDFC Bank Limited
- ICICI Securities Limited
- IIFL Holdings Limited
- IL&Fs Investsmart Securities Ltd
- JM Financial Consultants Private Limited
- Kotak Mahindra Capital Company Limited
- Morgan Stanley India Company Pvt Ltd
- UBS Securities India Private Limited
- Yes Securities (India) Limited
Lodha Developers IPO Promoters:
- Mangal Prabhat Lodha
- Abhishek Mangal Prabhat Lodha
- Sambhavnath Infrabuild
- Mangal Prabhat Lodha Family Discretionary Trust
Company Contact Information:
Lodha Developers Limited
412, Floor – 4
17G, Vardhaman Chamber, Cawasji Patel Road
Horniman Circle, Fort, Mumbai 400 001
Phone: +91 22 2302 4400
Fax: +91 22 2302 4550
Email: [email protected]
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Email: [email protected]