Macrotech Developers Limited | Globe Capital
Macrotech Developers Limited
Closed
Price Band
Rs. 483 - 486
IPO Issue Period
April 07, 2021 to April 09, 2021
Issue Size
Rs. 2500 Cr.
Face value
Rs. 10/-
Fresh issue
--
Offer for sale
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Minimum Shares for Retail
30 shares
Maximum Shares for Retail
390 shares
Listing on
NSE, BSE
Issue Type
Book Building
Tentative Listing Date
22-Apr-21
QIB
Not More than 50% of the offer
NII
Not less than 15% of the offer
Retail
Not less than 35% of the offer
Registrar to the Issue
Link Intime India Private Ltd

Axis Capital Limited, BOB Capital Markets Limited, Edelweiss Financial Services Ltd, ICICI Securities Limited, IIFL Holdings Limited, J.P. Morgan India Private Limited, JM Financial Consultants Private Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited, Yes Securities (India) Limited

Macrotech Developers Limited (Formerly known as Lodha Developers) is one of the largest real estate developers in India, by residential Sales value for the financial years 2014 to 2020. (Source: Anarock Report). Its core business is residential real estate developments with a focus on affordable and mid-income housing. Currently, They have residential projects in the MMR and Pune. Palava (Navi Mumbai, Dombivali Region), Upper Thane (Thane outskirts), Amara (Thane), Lodha Sterling (Thane), Lodha Luxuria (Thane), Crown Thane (Thane), Bel Air (Jogeshwari), Lodha Belmondo (Pune), Lodha Splendora (Thane) and Casa Maxima (Mira Road) are some of its affordable and mid-income housing projects. Company generates maximum revenue from this segment as in the fiscal 2020, the revenue from this segment accounted for 57.77%. Under the logistic and industrial park portfolio, it has planned to develop an industrial park of over 800 acres of land near Palava. However, the commercial real estate portfolio includes projects like corporate offices, IT campuses, and boutique office spaces. As on Dec 31 2020, the firm has successfully completed 91 projects comprising 77.22 million sq. ft. of developable area, with 59.13 million sq. ft. in the affordable housing segment. Abhishek Mangal Prabhat Lodha, Rajendra Narpatmal Lodha, Sambhavnath Infrabuild and Sambhavnath Trust are the company promoters.

For year/ period ended ( in Cr.)

31 Mar 2021 31 Mar 2020 31 Mar 2019
Total Revenue 648.95 479.63 340.69
Profit After Tax 134.53 70.8 43.92
EPS 12.07 6.35 3.94
OPM(%) 29.2 21.61 20.73
PATM(%) 20.53 14.46 12.69
  • India’s largest residential real estate developer with a leadership position in the attractive MMR market
  • Strong sales distribution network across India as well as NRI markets i.e. GCC, UK, Singapore, and US.
  • Brand equity and premium pricing.
  • Strong project execution capabilities.
  • Experienced management team.
  • To reduce aggregate outstanding borrowings of the company on consolidated basis.
  • To acquire land or land development rights.
  • To meet general corporate purposes.

Macrotech Developers has planned to utilise the net proceeds from issue towards reduction of the aggregate outstanding borrowings of the company on a consolidated basis, acquisition of land or land development rights, and general corporate purposes. Since its debt-equity ratio will improve significantly & will enable the company to raise further resources at competitive rates in the future to fund potential business development opportunities and plans to grow and expand our business in the future. Hence, investor can subscribe this issue.

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