Macrotech Developers (Lodha) today announced successful closure of its QIP. The Rs ~3,300 crore (~USD 400 million) institutional placement received overwhelming response from both existing and new as well as global and domestic investors. The book was oversubscribed by nearly 3 times within 5 hours of issue opening and witnessed traction from diversified set of investors with long-term outlook, including sovereign funds, pension funds, insurers etc.
This is the 4th equity raise by Lodha in last 36 months and means that Lodha has raised over Rs 13,000 crore of capital (including a secondary QIP), showing the exceptional support from high quality investors in brand Lodha, its strategy and team.
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