Lodha Developers is expected to raise ₹5,500 crore through OFS and fresh share sale.
Leading real estate player Lodha Developers Ltd (LDL) is likely to hit the market in the first fortnight of this August. The company is expected to mobilise about ₹5,500 crore through a combination of fresh share sale and the offer for share (OFS) by the promoters. The who’s who of the investment banking circuit are managing the company’s initial public offering (IPO). Kotak Mahindra Capital Company, CLSA India, JM Financial and Morgan Stanley India are the global coordinators and book running lead managers. (See table for details).
The new IPO is the second biggest initial share sale in the sector after DLF Ltd raised close to ₹9,200 crore in 2007. This is however not the first time that Lodha Developers has planned an IPO. In September 2009, the company filed the draft red herring prospectus (DHRP) to raise ₹2,800 crore. It received the Securities and Exchange Board of India’s approval in January 2010, but shelved plans due to unfavourable market conditions in the aftermath of the 2008 financial crisis that engulfed markets across the globe.
According to the company’s DRHP, fresh shares worth ₹3,750 crore will be issued. The promoters will sell up to 1.8 crore shares through an offer for sale. Out of the proceeds mobilised from the IPO, the company will use ₹3,300 crore for debt servicing. It had an outstanding debt of nearly ₹18,000 crore as of 31 January 2018, the draft prospectus said.
Population is key
هذه القصة مأخوذة من طبعة August 2018 من Outlook Money.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة August 2018 من Outlook Money.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Stay Ahead Of AI-Powered Cyber Fraud
AI has become an integral part of our lives, right from customer service at banks to insurance claims. But it has now become a powerful arsenal for the fraudsters too who are increasingly using AI to scam individuals and corporations alike to commit fraud. The key is to stay vigilant
Travelling To Europe? Pack In The Essential Covers
Smart travellers must know that insurance is a must-have. From essential health coverage to theft protection and trip interruptions, know what you need for a worry-free Europe trip
How To Spend Wisely This Year-End
We all spend during the year-end. But the trick is not to overspend or borrow, either from friends, or your own investment, to fund your indulgence. Maintaining balance is the key
Travel Now Pay Later (TNPL)
Travel now, pay later (TNPL) is a close cousin of the more popular buy now, pay later (BNPL) schemes.
12 Books Devina Mehra Loved Reading In 2024
Listing books of her choice, among the ones she reads during the year, is ace investor Devina Mehra's favourite year-end activity. She says it's a daunting task to pick around 12 books from a list of 50.
Here's How To Avail Of Ayushman Bharat Yojana
Launched in 2018, the Ayushman Bharat Yojana aimed to provide health coverage to targeted benefi ciaries from the Socio-Economic Caste Census (SECC) 2011, based on deprivation and occupational criteria.
'Focus On The Business, Assess If You Want To Be A Partner For 10-20 Years'
Professor Sanjay Bakshi, a value investor, behavioural economist and adjunct professor at Flame University, Pune, gives his unique perspective on how to choose a stock, in an interview with Nidhi Sinha, editor, Outlook Money, as part of the Wealth Wizards series. He also shares his learnings from role models Warren Buffett, Charlie Munger, Benjamin Graham and others, and how being a chartered accountant, economist, investor and teacher make him into what he is today. Edited excerpts from the interview
The New Trump Card For IT, Pharma
Donald Trump has been re-elected as the 47th President of the US after a gap of four years. Here's how it will affect the Indian markets and how it will benefit sectors such as IT, pharma, export-oriented sectors and others
European Sojourn
Tight on budget? Dump the popular European destinations for the little-known wonders that are equally attractive
Gold ETFs And FoFs
While Indians love to invest in physical gold, even mutual funds offer the option, but in paper format.
