Macrotech Developers IPO date: Public issue opens on 7th April; price band, lot size to important dates - all that you need to know

Macrotech Developers IPO date: Rs 2500 crore worth Macrotech Developers public issue is going to open for subscription on 7th April 2021. The Macrotech Developers IPO (Initial Public Offer) will remain open for subscription till 9th April 2021. Macrotech Developers, earlier known as Lodha Developers, have fixed the Macrotech Developers IPO price band at Rs 483-486 per share. The public issue will be listed at both NSE and BSE. The company has already said that it will utilize the money generated from the public issue for debt reduction,  acquisition of land or land developmental rights and other corporate purposes.

Macrotech Developers IPO Price Band
As mentioned earlier, the company fixed the IPO price at Rs 483 to Rs 486 and announced that around Rs 1500 crore coming in from the IPO will be utilized for its debt reduction. They also announced that they will be utilizing the rest of the amount for its other corporate purposes.

Macrotech Developers IPO: Important dates
Macrotech Developers IPO will hit the capital market on 7th April and remain available for subscription till 9th April. Macrotech Developers IPO allotment date is 16th April while initiation of refund will take place on 19th April. Credit of Macrotech Developers shares to the Demat Account of lucky bidders will take place on 20th April 2021 while Macrotech Developers IPO listing date is 22nd April 2021.

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Macrotech Developers IPO: Lot Size
Those who want to bid for the Macrotech Developers IPO must know that they will be able to apply in lots and one lot will consist of 30 Macrotech Developers shares. One bidder can apply for minimum one lot while it can apply for maximum 13 lots.

Macrotech Developers IPO: Investment Limit
Hence, an investor can invest a minimum of Rs 14,580 while one can invest a maximum of Rs 189,540 in Macrotech Developers IPO.

About the company
Incorporated in 1995, Macrotech Developers, earlier known as Lodha Developers, is one of the largest real estate developers in India. The company is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also developed commercial real estate.

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