This time, it’s the Lodha group, in the real estate developer business which is planning to come out with its IPO or Initial Public offering. The plan is to raise Rs 8,000 crore through the IPO from the primary market to fund its various projects and expand its operations.
Where will the IPO proceeds be used?
It’s a real estate company, so obviously the money will be used to fund the construction projects and expansion of business operations. The IPO proceeds for Lodha Group IPO will be used for making an entry into the new regions or markets, including Hyderabad and Pune.
What Lodha Group has right now?
Though the real estate sector is expected to cool off a bit in the near future. Lodha Group is presently having a good order book. It is developing 27 different projects in Thane & Mumbai. The majority of projects are in residential sector (around 60%), while commercial space consists of 30% and remaining 10% goes to the retail space.
The Lodha group constructions are in the business of offering luxury homes.
Even the banking big boys have faith in Lodha. It was previous year when Deutsche Bank invested USD 425 million in Lodha Group. JP Morgan has also invested in one of Lodha's luxury apartments.
The group is promoted by Mangal Prabhat Lodha, who is also the Chairman and Managing Director of the group.
| The Lodha Group IPO is expected in the third quarter. | Table of Contents |
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