Macrotech Developers, popularly known as Lodha Developers received an oversubscription of 1.36 times on the last day of Initial Public Offering (IPO) led by exceptional demands from HNIs and institutional investors.
The maiden had received cumulative bids of 4,94,64,480 equity shares against the IPO size of 3,64,18,219 equity shares - fully subscribing by 1.36 times.
The portion reserved for HNIs saw a whopping of 1.44 times subscription. While qualified institutional buyers recorded 3.05 times subscription. Retail portion subscribed by 0.40 times.
A price band of Rs483 per equity share to Rs486 per equity share was fixed on this IPO.
Axis Capital Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited were the Book Running Lead Managers (BRLM) for the issue.
The Company launched its IPO from 7th April to 9th April 2021.
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