Lodha Developers Limited IPO
Lodha Developers Limited IPO
(i) Lodha Developers Limited is a company with presence in India and the United Kingdom. LODHA Group is the No.1 real estate company in India. The Group is developing an estimated 33.8 million sq ft of the prime real estate with large land reserves in the Mumbai Metropolitan Region (MMR).
(ii) They have 37 ongoing projects across Mumbai, Pune, and London. They have a large land reserve of over 4,450 acres with an estimated saleable area of 385 million sq ft as of December 31, 2017.
(iii) In November 2013, they extended their international footprint with the acquisition of the landmark MacDonald 1 Grosvenor Square in Prime Central London from the Canadian Government. The Group acquired another premium site at Prime Central London, ‘New Court’ at 48 Carey Street. With offices in London, Dubai and Shanghai, USA and Singapore, the Group is on road to substantial international presence.
(iv) Projects completed by the Company
a) In FY15-16, they completed 6.76 million square feet and 7426 units across projects.
b) In FY16-17, they completed 7.76 million sqft. and 5,677 units across projects.
c) For 9 months ending December 31, 2017, they have completed 9.29 million sqft and 7438 units across projects.
(v) Company’s Strength
Over 3,700 direct associates
Over 1,600 engineers
Over 200+ senior management professionals
140+ designers and architects
Over 700 marketing and sales professionals
Over 300 customer care representatives
Objects of the Lodha Developers Limited IPO:
Lodha Developers Limited IPOare: a) Offer for Sale of up to 18,000,000 Equity Shares by Promoters. b) Fresh Issue of up to Rs.3750 Cr. The number of Shares will be arrived at after price discovery. The Net Proceeds from the Fresh Issue are proposed to be utilized in the following manner: 1. Reduction of the aggregate outstanding borrowings of our Company on a consolidated basis. 2. General corporate purposes.
Lodha Developers Limited IPO Details:
|Face Value:||₹ 10 Per Equity Share|
Promoters And Management:
|(i) Authorized Share Capital 1,021,051,250 Equity Shares shares & 10,891,250 Preference Shares at FV@10)||1031.945 r|
|(ii) Issued, Subscribed,& Paid-up Share Capital Before Issue (395,878,000 Equity Shares at FV@10)||200 Cr|
|(iii) Fresh Issue of up to [●]Equity Shares aggregating up to ₹3750 Cr||[*]|
|(iv) OFS upto ( 18000000 Equity Shares at FV@10)||[*]|
|(v) Out of 18000000 Equity Shares , 450000 Equity Shares are reserved for Employee.||18 Cr|
|(vi) Reservation for QIB[*]||50%|
|(vii) Reservation for HNI[*]||15%|
|(viii) Reservation for Retail[*]||35%|
|(ix)Paid Up Share Capital after the issue||[*]|
Financials of Lodha Developers Limited IPO:
|Particulars||For the year/period ended (in Rs. Lacs)|
|Profit After Tax||5,652.66||4,105.25||5,840.34||7,028.09||7,980.05|
Recommendation on Lodha Developers Limited IPO:
Lead Manager of Lodha Developers Limited IPO:
- BOB Capital Markets Limited
- CLSA India Private Limited
- Edelweiss Capital Limited
- HDFC Bank Limited
- ICICI Securities Limited
- IIFL Holdings Limited
- JM Morgan Stanley Private Limited
- Kotak Mahindra Capital Company Limited
- Morgan Stanley India Company Private Limited
- UBS Securities India Private Limited
- Yes Securities (India) Limited