The shares of Macrotech Developers opened on April 7 and ends on April 9. On the first day, the shares subscribed 22 percent. The company aims to generate an amount of Rs 2500 crore through issuing the shares publically.
An amount of Rs 741 crore was gained from the investors before the opening of the IPO. Such investors are anchor investors for the company
Consequently, the company brought down the offered size from 5.16 crore to 3.64 crores.
The part reserved for QIB subscribed 58 percent whereas non-institutional bid for 7 percent.
A segment set aside for retail investors booked 8 percent along with a portion of 1 percent for the employees.
As per the reports, the company made its name for its large-scale operations and goodwill in the Mumbai Metropolitan Region.
The performance of the company affected and suffered a loss of Rs 264 as a consequence of pandemic and covid-19.
Also, the loss was calculated for the period of nine months ceasing on December 2020.
The company obtains projects under well-known brands like CASA, Lodha quality homes, and more.
According to a report, the company’s borrowings and cash difference amount to Rs 16,913 crore. This indicates 4 times in the debt-to-equity ratio. Besides, the company contains contingent liability of Rs 1,600 crore concerning its operations in the UK.
In FY18 and FY20, the company raised Rs 7,300 crore yearly in its pre-sales activities. Also, it generated an amount of more than Rs 8,500 crore in a year.
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