Macrotech Developers share listed at a discount of 10% to IPO issue price on NSE today. The stock of Mumbai-based real estate developer listed at Rs 436, a discount of 10.28% against IPO issue price of Rs 486 on NSE. Price band of the IPO was fixed at Rs 483 to Rs 486 per equity share.
Market cap of the firm rose to Rs 20,733 crore. Total 33.43 lakh shares changed hands on BSE.
On BSE, the stock listed at Rs 439, a 9.67% discount to issue price. Market cap of the firm stood at Rs 20,766 crore.
Total 1,36,147 shares of the firm changed hands on BSE in early trade.
The IPO of Macrotech Developers was held from April 7 to April 9. The share sale was subscribed 1.36 times on the last day of bidding. The IPO received bids for 4.95 crore equity shares against issue size of 3.64 crore equity shares.
The portion reserved for retail investors was subscribed 40 percent. The portion reserved for employees was subscribed 17 percent. The company reserved Rs 30 crore worth of equity shares for its employees.
Qualified institutional buyers put in bids for 3.05 times of their IPO portion and non-institutional investors submitted bids for 1.44 times of the reserved portion.
Macrotech Developers Ltd, earlier known as Lodha Developers, has raised Rs 2,500 crore through the IPO.
On April 6, the realty firm raised Rs 740 crore from 14 anchor investors including global long only, pension funds, sovereign wealth funds multi-strategy and domestic mutual funds.
The company allocated 1.52 crore shares at Rs 486 per share to anchor investors.
Promoters of the firm held 100% stake and planned to sell 10% by issuing 51,440,328 equity shares of Rs 10 face value during the IPO.
Lot size of the IPO was 30 shares for which one would have to spend Rs 14,580. A maximum of 13 lots comprising 390 shares could be bought for Rs 1,89,540.