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News Details

( As on 01/04/2021 10:50)

Macrotech Developers announces launch of initial public offering

Macrotech Developers Ltd. has announced public offering of 51440330 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 476.00 per share. The gross proceeds of the issue are expected to be Rs 2,50,000.00 lakhs.

The company's initial public offer (IPO) will open on 07 April 2021 and is expected to close on 09 April 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 483.00-486.00 per share.

The IPO includes a fresh Issue of 51440330 Equity Shares of the Company at an price of Rs 486.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 30 shares with bids in multiples of 30.

Macrotech Developers Ltd. anticipates using the proceeds of the issue for

Reduction of the aggregate outstanding borrowings of the Company on a consolidated basis Acquisition of land or land development rights General corporate purposes.

Axis Capital Ltd.,Edelweiss Financial Services Ltd.,JP Morgan India Private Limited.,Kotak Mahindra Capital Company Ltd.,YES Securities (India) Ltd.,JM Financial Ltd.,SBI Capital Markets Limited,IIFL Securities Limited,BOB Capital Market,ICICI Securities Ltd as lead manager(s) & Link Intime India Private Limited is the registrar, to the issue.