Macrotech Developers IPO Subscribed 35% By End Of Second Day

Macrotech Developers IPO: Retail investors were showing lack of demand for the issue as the portion reserved for them was subscribed 12 per cent.

Macrotech Developers (formerly known as Lodha Developers) share sale via initial public offering (IPO) witnessed weak demand as the issue was only subscribed 0.35 times or 35 per cent by the end of second day of subscription, data from the National Stock Exchange showed. Macrotech Developers received a total of 1,26,56,070 bids for 3,64,18,219 shares on offer. A total of 35,44,590 bids were received at the cut-off price, the NSE data showed. Retail investors were showing lack of demand for the issue as the portion reserved for them was subscribed 12 per cent while portion reserved for qualified institutional buyers was subscribed 63 per cent. Macrotech Developers, formerly known as Lodha Developers is planning to raise Rs 2,500 crore via IPO and is selling shares in the price band of Rs 483-486 per share. The shares are likely to be listed on the BSE and NSE on April 22, 2021. Investors can bid for a minimum one lot of 30 shares, translating into the minimum application size of Rs 14,580 per lot at the higher end of the price band. The maximum application size per individual is 13 lots.