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Lodha gets nod for `5,000 crore IPO

DNMUM417856 | 7/10/2018 | Author : Ateeq Shaikh | WC :561



Mumbai: Lodha Developers has received a nod from the Securities and Exchange Board of India (Sebi) on Monday to come out with the second-largest initial public offering in the realty sector after DLF’s issue in 2007.
Lodha is looking at raising around Rs 5,000 to Rs 5,350 crore by issuing a fresh equity capital through the IPO and the secondary share sale by promoters of Rs 1,300 crore to Rs 1,800 crore.
According to market sources, the offer will value Lodha Developers at around Rs 38,000 crore.
The Mumbai-based developer is also looking at trebling its commercial portfolio in the next few years.
As on December 31, 2017, the Mumbai-based company had completed 3.83 million square feet of leasable area and has ap
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