Public Market

Secondary Issues

Realtor Macrotech raises Rs.4,000-Cr via QIP

Outlook  

Realty firm Macrotech Developers (formerly Lodha) has raised INR 4,000 crore through the qualified institutional placement (QIP) route, although the demand was for shares worth around INR 12,500 crore. After the issue, the promoters' shareholding will come down to 82.5 %. The company has two-and-a-half years to meet the requirement of minimum 25% public shareholding.