Lodha allots shares worth Rs 740 cr to anchor investors ahead of IPO

Realty major Macrotech Developers, also known as Lodha Developers, has allotted shares worth Rs. 740 crore to anchor investors ahead of its IPO.

The company allotted 15.2 million shares to 14 investors at Rs 486 apiece. Capital Group, Nomura, CDPQ; Wellington Asset Management, Abu Dhabi Investment Authority are some of the foreign investors who got allotment. HDFC MF and Premji Invest were among the domestic investors to get allotment under the anchor category. Lodha’s IPO opens for subscription on Wednesday.

The company has priced it between at Rs 483–486 per equity share. The IPO comprises of fresh issuance of equity shares worth Rs 2,500 crore. At the top-end of the price band, Marcotech will have a post-diluted market capitalisation of Rs 21,740 crore.

The Mumbai-based developer will become the third biggest listed realty company behind DLF and Godrej Properties and slightly ahead of Oberoi Realty.