Macrotech Developers raises 740 Cr from 14 Anchor Investors
Demand Allocation across marquee names with 12 Foreign Portfolio Investors, 2 Domestic Funds including 1 domestic mutual Funds
ANCHOR SHEET UPLOADED ON THE EXCHANGES IS ATTACHED
Affordable and Mid Income Housing focused Macrotech Developers Limited also known as Lodha Developers has raised Rs. 740 crore from 14 anchor investors. The company informed the bourses that it has allocated 1.52 Cr shares at Rs. 486 per share on Tuesday, April 6, 2021 to anchor investors.
12 Foreign Portfolio Investors who participated in the anchor were Capital Group; Nomura; Ivanhoe Cambridge, real estate arm of CDPQ; Wellington Asset Management,; Abu Dhabi Investment Authority, Abu Dhabi’s sovereign fund; Platinum Asset Management, Marshall Wace, Brookfield Asset Management, Segantii, York, Oxbow and Discovery. These investors were allocated approximately 1.45 Cr. shares for approximately Rs 705 Cr.
2 domestic investors including 1 mutual funds were allocated approximately 7.3 Lakh shares for approximately INR 35.3 Cr. These included HDFC Mutual Fund and Premji Invest, India’s largest family office.
Axis Capital Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited are the global coordinators and book running lead managers and ICICI Securities Limited, Edelweiss Financial Services Limited, IIFL Securities Limited, JM Financial Limited, YES Securities (India) Limited, SBI Capital Markets Limited and BOB Capital Markets Limited are the book running lead managers to the Initial Public Offering.
Company Information
Macrotech Developers with strong footing of 570 lakh sq feet deliveries in FY 2014-20 in India, caters to housing demands across consumer segments, delivers at scale and aims at providing quality homes to every aspiring home-buyer. The Group with its early entry in affordable and mid income housing in Mumbai region has deep understanding of the consumers segment and demonstrates 2/3 of its business from the segment. As recent as FY 2020, the affordable and mid income housing segment contributed 57.77% of the overall business for the group, further determines its strong focus and potential in the segment.
It currently has 36 ongoing projects comprising approx. 28.78 mn sq feet Developable area of which 23.57 mn sq feet is in affordable and mid income housing.
As on Dec 31,2020 it had 3803 acres with an estimated developable area of approximately 322 mn sq feet for future development in Upper Thane, Dombivali