 "IPO")
The Rs 2,500-crore initial public offering (IPO) of Macrotech Developers (erstwhile Lodha Developers) got a lukewarm response from investors with the issue garnering just 1.37 times subscription. This is the least for any IPO in 2021.
The 36.42-million offering got less than 50 million bids with retail and employee portions of the issue remaining undersubscribed at 40 per cent and 17 per cent, respectively.
The IPO managed to sail through on the back of demand from qualified institutional buyers (QIBs). The QIB portion was subscribed 3.06 times. The high-networth individual (HNI) portion was subscribed 1.45 times.
Industry players said grey market rates indicated
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