Lodha Developers likely to reduce size of its IPO
Mumbai: Realty firm Lodha Developers Ltd is likely to reduce the size of its initial public offering following lukewarm interest from investors, said three people aware of the development. The promoters were also looking to sell a part of their stake, taking the total IPO size to around ₹ 5,000 crore, making it the biggest real estate public float since DLF’s ₹ 9,187 crore IPO in 2009. They are now re-calibrating their strategy and are cutting down the size of the IPO to around ₹ 4,200 crore,” said one of the people cited above, requesting anonymity. On 10 August, Mint reported that at least 32 companies seeking to raise over ₹ 41,000 crore through initial public offerings are yet to hit the street, as volatility has hit company valuations.
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