The allotment of shares for initial public offer (IPO) of Macrotech Developers, one of India’s largest real estate players,is being done today. The IPO received lukewarm response from investors from April 7 to April 9. The share sale was subscribed 1.36 times on the last day of bidding. The IPO received bids for 4.95 crore equity shares against issue size of 3.64 crore equity shares.
The portion reserved for retail investors was subscribed 40 percent. The portion reserved for employees was subscribed 17 percent. The company reserved Rs 30 crore worth of equity shares for its employees.
Qualified institutional buyers put in bids for 3.05 times of their IPO portion and non-institutional investors submitted bids for 1.44 times of the reserved portion.
The stock of Mumbai-based real estate developer will be listed on BSE and NSE on April 22, 2021.
Macrotech Developers Ltd, earlier known as Lodha Developers planned to raise Rs 2,500 crore through the IPO.
On April 6, the realty firm raised Rs 740 crore from 14 anchor investors including global long only, pension funds, sovereign wealth funds multi-strategy and domestic mutual funds.
Macrotech Developers IPO: Share allotment likely to be finalised next week
The company allocated 1.52 crore shares at Rs 486 per share to anchor investors.
Promoters of the firm held 100% stake and planned to sell 10% by issuing 51,440,328 equity shares of Rs 10 face value during the IPO.
Lot size of the IPO was 30 shares for which one would have to spend Rs 14,580. A maximum of 13 lots comprising 390 shares could be bought for Rs 1,89,540.
Price band of the IPO was fixed at Rs 483 to Rs 486 per equity share.
Macrotech Developers IPO subscribed 26% on day 1
ICICI Securities, Edelweiss Financial Services, IIFL Securities, JM Financial, YES Securities, SBI Capital Markets and BOB Capital Markets were the book running lead managers to the public issue of Macrotech Developers.
Link Intime India was the registrar to the issue.
Here’s a step-by-step look at how you can check allotment status for Macrotech Developers IPO.
On BSE
-Select Equity and then from the dropdown, select issue name- Macrotech Developers
-Enter your Permanent Account Numbers (PAN) or application number and click the Search button
Registrar website
Visit the registrar’s website Link Intime India to check your application status. Choose ‘Select company’ and click on ‘Macrotech Developers ‘.
Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID. Enter the captcha and click ‘submit’.
Once you press ‘submit’, the status of application will appear on the screen.
