Macrotech Developers raises Rs 740 crore from 14 anchor investors

NEW DELHI: Macrotech Developers (also known as Lodha Developers) has raised Rs 740 crore from 14 anchor investors, the company said in a media release.

The company informed the bourses that it has allocated 1.52 crore shares at Rs 486 per share on April 6, 2021 to anchor investors.

Twelve 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 crore shares for approximately Rs 705 crore.

Two domestic investors including one mutual funds were allocated approximately 7.3 Lakh shares for approximately Rs 35.3 crore. These included HDFC Mutual Fund and Premji Invest.

Axis Capital, J.P. Morgan India, Kotak Mahindra Capital Company are the global coordinators and book running lead managers and ICICI Securities, Edelweiss Financial Services, IIFL Securities, JM Financial, YES Securities (India), SBI Capital Markets and BOB Capital Markets are the book running lead managers to the Initial Public Offering.