Mumbai-based housing company Macrotech Developers, formerly known as Lodha Developers, is expected to finalize its IPO budget allocation next week. This was the first IPO for the 2021-22 financial year.
The public issue was able to navigate with the help of qualified institutional buyers (QIB) on the last day of bidding, enrolling 1.36 times between April 7-9, 2021. As a result, the company succeeded in raising 2,500 crore to investors.
The QIB share is 3.05 times registered and 1.44% for non-institutional investors, while the proportion for retail investors has seen 40 percent enrollment and 17 percent of employees.
The Company will use the proceeds of the proceeds, after deducting donation expenses, repaying debts and acquiring land or land development rights.
Macrotech developers, in consultation with commercial banks, will finalize the share base on April 16, according to the schedule available in the prospectus.
Here are two options available for looking at IPO allocation allocations:
Investors can check the status of an application for participation on the BSE website. One needs to select ‘equity’ by type of release and then remove the word ‘Macrotech Developers Ltd’ from the drop. Enter ‘program number’ and ‘PAN number’, and finally, click on ‘search’.
Assignment status can also be checked on the IPO registrar’s website in two easy steps. One has to select ‘Macrotech Developers – IPO’ from the drop-down list. Enter ‘PAN’, ‘Application Number’, or ‘DP Client ID’. And finally, click on search.
If all the above information provided by the investor is correct, the number of shares applied for and the number of shares allocated will appear on the screen.
After the completion of the distribution base, the funds will be returned to investors, if any, and will be opened in the ASBA account on April 19. on 22 April.
The listing of stocks has been delayed due to two market holidays in the coming weeks. The market will remain closed on April 14 by Dr Baba Saheb Ambedkar Jayanti and on April 21 by Ram Navami.
Macrotech developers are one of the largest real estate developers in India, with residential sales for the 2014 to 2020 financial year. At FY2020, the affordable and medium-sized housing segment accounted for 57.77 percent of the group’s total business.
It currently has 36 ongoing projects covering approximately 28.78 million square feet while 23.57 million feet are in an inexpensive and medium-sized house.