Affordable and Mid Income Housing focused Macrotech Developers Limited also known as Lodha Developers; listed on the BSE at 10.70% discount over its issue price. The shares of the company at day end closed at Rs. 463.15 per share on BSE and Rs. 457.95 per share on NSE. The initial public offering was offered at an issue price of Rs 486 per share.
As per BSE, the total quantity traded stood at 2.96 lac shares with a delivery quantity percentage of 32.63%. Quantity traded and delivery percentage at NSE was approx. 98.86 lac shares and 61.12% respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 528.20 crores.
The Market Capitalization of the Company post today's closing price stood at Rs. 20,330.62 as per BSE and Rs. 20,484.94 as per NSE.
The IPO was a fresh issuance of equity shares of Rs 10 face value aggregating up to Rs. 2500 crore, received bids of 4,94,64,480 shares against the offered 3,61,93,415 equity shares. The portion reserved for Qualified Institutional Buyer category was subscribed 3.06 times While the, retail investors was subscribed 0.40 times. the Non-Institutional Investor category was subscribed 1.45 times, overall subscribed 1.37 times.
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 mnsq feet Developable area of which 23.57 mnsq 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 mnsq feet for future development in Upper Thane, Dombivali.