new Delhi. Macrotech Developers Ltd, one of the leading real estate companies in the country and the world, is preparing to launch its IPO next week. It will be the second largest real estate IPO in the country. With which the company is preparing to raise Rs 2500 crore. According to media reports, the company may bring its IPO on April 7. Let us tell you that Macrotech developers are also known as Lodha Developers.
Open 7, close 9
According to media reports, the company will file a draft red herring prospectus in the company registrar’s office today for the IPO. According to the media report, the company’s IPO has got the green signal from SEBI. The IPO will open on 7 April and will close on 9 April. According to the information, the company was arranging for the sale and market sentiment to be positive, so the company is looking much better for real estate at the present time. Because of which IPO is coming. The special thing is that the company was trying to get an IPO in 2009 and 2018 as well, but stopped itself due to the market going down.
These banks were made advisors
According to the information, in its application to Sebi, the company had asked to raise 500 million rupees pre IPO placements. The company has not yet raised the amount of pre IPO funding. At the same time, an official statement has come from the company. According to the information, the company has appointed investment banks such as Axis Capital and JP Morgan as advisors for the IPO.
The company will repay its debt
Through this IPO, the company will work to reduce its debt. According to the information, the company will use 1500 crore rupees to pay off the debt of itself and its affiliates. The company has a total debt of Rs 18,662.19 crore as of December 2020. The company’s total revenue in the December quarter was Rs 3,160.49 crore, while the company had a net loss of Rs 264.30 crore.