Lodha Developers IPO is coming in the year 2018. The Mumbai based reality house, Lodha Developers, plans to raise funds to the tune of Rs. 3,000 to Rs. 6,000 crores. The company also had plans in January 2010 to raise funds via IPO but the plan was stacked. In this article, we will discuss about the Lodha Developers IPO release date, IPO offer price, IPO size, IPO object, merchant bankers, company’s background and other details.
Lodha Developers IPO Review & Ratings
| Lodha Developers IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.8/10 |
| Industry Ranking | 8.7/10 |
| Company Background | 8.9/10 |
| Company Reputation | 8.7/10 |
| Competitive Edge | 8.2/10 |
| Financial Statements | 8.4/10 |
| Popularity Index | 8.3/10 |
| Promoters Reputation | 8.7/10 |
| Retail Appetite | 8.8/10 |
| Top Brokers Review | 8.3/10 |
| Overall Ratings | 8.6/10 |
| Star Ratings | ★★★★★ |
Summary of Lodha Developers IPO
Lodha Developers is based n Mumbai and have many commercial and residential projects. Lodha Developers also have their projects in Pune, Hyderabad and London.
In the UK property market, Lodha Group made an entry in 2013 with the acquisition of two prime sites in central London for an investment of about 400 million pounds.
The Lincoln Square project was launched in 2016 and the second project No 1 Grosvenor Square, located in the heart of Mayfair, was launched in June 2017.
The company promoters are – MANGAL PRABHAT LODHA, ABHISHEK MANGAL PRABHAT LODHA, SAMBHAVNATH INFRABUILD AND FARMS PRIVATE LIMITED AND MANGAL PRABHAT LODHA FAMILY
DISCRETIONARY TRUST.
The IPO of Lodha Developers is expected to be between Rs. 3,000 to Rs 6,000 crores. Lodha Developers IPO merchant bankers and lean managers might include Citic CLSA, Kotak and Morgan Stanley.
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Lodha Developers IPO Date
The release date for Lodha Developers IPO is not yet disclosed. This section would be updated, once the same is process is completed.
Lodha Developers IPO Subscription
| Subscription | |
| Day 1 | X |
| Day 2 | X |
| Day 3 | X |
| Day 4 | X |
| Day 5 | X |
Upon release of the IPO, the details of shares subscribed for Lodha Developers would be updated herein.
Lodha Developers IPO Allotment Status
The status of shares allotted for Lodha Developers IPO will be updated here after the bid date lapses and the shares are allotted. Further details would be updated herein shortly.
Lodha Developers IPO Price Band
Currently, the offer price for Lodha Developers IPO is not known. This section would be updated, once the entire process of listing is set. Generally, the price setting is done by the company and the lead managers, keeping in mind the market position and other similar parameters.
Lodha Developers IPO Issue Size
The IPO size for Lodha Developers is expected to be somewhere between Rs. 3,000 crore to Rs. 6,000 crore. The figures are just indicative numbers and may undergo a change once the prospectus is released. This is section will be revised, as and when there is a new updated.
Lodha Developers IPO Equity Share Offerings
As of now, only an indicative figure of IPO issue size has been disclosed. The number of shares have not been provided yet. The details would be updated herein, as soon as available.
Lodha Developers – Company Overview
Lodha Group is a privately-held real estate developer based in Mumbai, India established in 1980 by Mangal Prabhat Lodha. The company is among India’s top real estate companies known for its world class commercial and residential properties. The majority of the properties are located in Mumbai. They also have a presence in Hyderabad, Pune and London.
Some known projects are Lodha Bellissimo, Mumbai’s first invite-only project, and The World Towers which includes World One that will be the tallest residential only structure in the world.
In 2010, they recorded the biggest land deal in India to date by buying a plot for Rs. 4,053 crores from the Mumbai Metropolitan Region Development Authority, for developing a neighbourhood region called New Cuffe Parade.
Key members of Lodha Developers:
- Mangal Prabhat Lodha (Chairman Founder)
- Abhishek Lodha (Managing Director)
- Rajendra Lodha (Whole Time Director)
Competitive Strengths of Lodha Developers
- Pioneer in partnering with foreign brands
- Portfolio of big brands
- Detailed analysis and market research
Business strategy of Lodha Developers
- Focus on branded realty
- Dedicated and experienced customer service team
- Essential after — sales services
Lodha Developers – Financial Statements
The Group is developing an estimated 33.8 million sq ft of prime real estate with large land reserves in the Mumbai Metropolitan Region (MMR). They have 37 ongoing projects across London, Mumbai and Pune.
Lodha Developers have a large land bank of over 4,450 acres with an estimated saleable area of 385 million sq ft. In FY 15-16 alone, they completed 6.76 million square feet and 7,426 units across projects. In FY 16-17 Lodha Developers completed 7.76 million sqft. and 5,677 units whereas for 9 months ending December 31,2017, they completed 9.29 million sqft and 7,438 units across projects.
A summary of the financial position of the company is presented below:
RESTATED CONSOLIDATED SUMMARY STATEMENT (in INR & Millions)
| 31-Dec-17 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 (Proforma) | |
| Total Assets | 344,284.98 | 339,832.23 | 310,286.12 | 279,584.08 |
| Total Expense | 57,734.76 | 69,405.89 | 70,587.70 | 49,976.02 |
| Total Revenue | 66,345.11 | 79,573.29 | 82,909.52 | 62,694.78 |
| Profit After Tax | 5,625.66 | 5,840.34 | 7,028.09 | 7,980.05 |
RESTATED STANDALONE SUMMARY STATEMENT (in INR & Millions)
| 31-Dec-17 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 (Proforma) | |
| Total Assets | 259,144.47 | 285,505.23 | 253,608.83 | 236,483.22 |
| Total Expense | 33,789.01 | 53,291.00 | 57,163.60 | 38,039.08 |
| Total Revenue | 39,486.47 | 58,497.93 | 68,237.94 | 46,739.19 |
| Profit After Tax | 3,754.80 | 3,207.05 | 6,884.54 | 5,523.21 |
Earnings per Equity Share
| Earning per Equity Share (in INR MILLION) | |||||
| Mar’17 | Mar’16 | Mar’15 | Mar’14 | Mar’13 | |
| Basic | 58.95 | (4,414.11) | (1,041.67) | NA | NA |
| Diluted | 58.95 | (4,414.11) | (1,041.67) | NA | NA |
The details would be shortly updated herein and an analysis of the same would also be presented.
Lodha Developers Promoters
The promoters of the company are:
- MANGAL PRABHAT LODHA,
- ABHISHEK MANGAL PRABHAT LODHA,
- SAMBHAVNATH INFRABUILD AND
- FARMS PRIVATE LIMITED AND MANGAL PRABHAT LODHA FAMILY DISCRETIONARY TRUST
Promoter Interest in the company.
These details would be shortly updated for Lodha Developers promoters.
Promoter Interest in property of the company
These details would be shortly updated for Lodha Developers promoters.
Lodha Developers IPO Offer Details or Issue Details
| Offer of Equity Shares | Up to [●] Equity Shares aggregating to ₹ [●] million |
| of which | |
| Fresh Issue | Up to [●] Equity Shares, aggregating up to Rs 37,500 million |
| Offer for Sale | Up to 18,000,000 Equity Shares, aggregating up to Rs [●] million |
| The Offer consists of: | |
| Employee Reservation Portion | Up to 450,000 Equity Shares, aggregating up to ₹ [●] million |
| Net Offer | |
| The Net Offer consists of: | |
| QIB portion | [●] Equity Shares |
| of which | |
| (i) Anchor Investor Portion | Upto [●] Equity Shares |
| (ii) Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed) | [●] Equity Shares |
| of which | |
| Available for allocation to Mutual Funds only 5% of the QIB Portion (excluding the Anchor Investor Portion) | [●] Equity Shares |
| Balance of QIB Portion for all QIBs including Mutual Funds | [●] Equity Shares |
| B) Non-Institutional Portion | Not less than [●] Equity Shares |
| C) Retail Portion | Not less than [●] Equity Shares |
| Pre and post Offer Equity Shares | |
| Equity Shares outstanding prior to the Offer | 395,878,000 Equity Shares |
| Equity Shares outstanding after the Offer | X Equity Shares |
| Utilisation of proceeds |
The details of the issue would be updated once the company finalizes on such details.
Lodha Developers IPO Issue Object
While the specific reason, if any, for listing of shares is not disclosed, it is expected to have the following objectives:
- Funds for expansion
- Corporate expenses
- Repayment of debts
- Benefits of listing
Qualitative Factors
Some of the qualitative factors which form the basis for computing the Offer Price are:
1. Strong execution track record with leadership position;
2. Strong presence in the MMR, the most attractive real estate market in one of the fastest growing
economies;
3. Diversified portfolio of projects – across residential, office and retail, catering to various customer
segments;
4. Ability to create projects which redefine the surrounding geography and create value;
5. Established brands and reputation with distinguished marketing and sales capabilities;
6. Speed to market and competition driven by integrated real estate business model with in-house
capabilities from land acquisition to completion; and
7. Qualified and experienced management team.
Quantitive Factors:
Lodha Developers IPO – Basis of the Offer Price
For any IPO, the offer price is generally decided on the basis of various parameters like the economic situation, the industry growth, industry prospectus, the fiscal position, the performance of peer listed companies and also the sentiments in market with respect to the company’s IPO. This is referred to as book building process and is undertaken by the company and the book running lead managers.
The qualitative factors relevant to decide the issue price:
- Pioneer in partnering with foreign brands
- Portfolio of big brands
- Detailed analysis and market research
The quantitative factors relevant for the issue price are:
- Earning per share
- Price/earning ratio
- Return on Net Worth
- Net Asset Value – NAV per Equity Share
- Comparison with listed industry peer
Lodha Developers IPO Lead Managers
| Lead Managers |
| GLOBAL CO-ORDINATORS AND BOOK RUNNING LEAD MANAGERS Kotak Mahindra Capital Company Limited CLSA India Private Limited JM Financial Limited Morgan Stanley India Company Private Limited |
| BOOK RUNNING LEAD MANAGERS BOB Capital Markets Limited Edelweiss Financial Services Limited HDFC Bank Limited ICICI Securities Limited IIFL Holdings Limited UBS Securities India Private Limited YES Securities (India) Limited |
Lodha Developers IPO Registrar to offer
| Registrar to offer |
| Link Intime India Private Limited C 101, 247 Park L.B.S.Marg Vikhroli (West) Mumbai 400 083 Telephone: +91 22 49186200 Facscimile: +91 22 49186195 E-mail: lodha.ipo@linkintime.co.in Investor Grievance E-mail: lodha.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan Website: www.linkintime.co.in SEBI Registration No.: INR000004058 |
Lodha Developers IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.7/10 | 7.7/10 | 7.8/10 | 7.3/10 | 7.7/10 |
| Sharekhan | 7.4/10 | 7.4/10 | 7.5/10 | 7.7/10 | 7.8/10 |
| Kotak Securities | 7.7/10 | 7.4/10 | 7.3/10 | 7.8/10 | 7.5/10 |
| ICICI Direct | 7.8/10 | 7.7/10 | 7.5/10 | 7.5/10 | 7.7/10 |
| IIFL | 7.5/10 | 7.8/10 | 7.3/10 | 7.7/10 | 7.5/10 |
| Edelweiss | 7.3/10 | 7.5/10 | 7.7/10 | 7.3/10 | 7.3/10 |
| Zerodha | 7.7/10 | 7.3/10 | 7.7/10 | 7.5/10 | 7.7/10 |
| 5Paisa | 7.9/10 | 7.5/10 | 7.8/10 | 7.3/10 | 7.3/10 |
| Karvy | 7.7/10 | 7.3/10 | 7.5/10 | 7.5/10 | 7.7/10 |
| Motilal Oswal | 7.9/10 | 7.7/10 | 7.3/10 | 7.3/10 | 7.4/10 |
Lodha Developers IPO Grey Market Premium
Lodha Developers IPO grey market premium price is Rs X. The kostak rate for the IPO will also be out in market by then.
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Lodha Developers IPO News
News 1 – Lodha group revives IPO plans; looks to raise Rs 3,000-6,000 crore
News 2 – Download Prospectus
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