Macrotech to continue focus on Affordable-Mid Income Housing, strengthens its Logistics and Industrial developments

        57.77% of residential sales value from affordable and mid-income housing in FY 2020

·         Partnership for Palava Industrial and Logistics Park – Signed a deal with Bati Mumbai Private Limited (“Batilogistics”) to develop ≈30 acre land

       parcel

·         IPO bound realty player’s price band of the issue is between INR 483 – INR 486 per equity share, set to open issue on 7^th April 2021

Mumbai: Macrotech Developers Limited (formerly known as Lodha Developers Limited), amongst largest real estate developer in India by residential sales between FY14-20 will be opening its Initial Public Offering of Equity Shares on Wednesday, April 7, 2021 and will close on Friday, April 9,2021.

The price band of the issue is between Rs 483 – Rs 486 per equity share of face value of Rs 10 each and is looking to raise upto Rs 2500 cr via a fresh issuance of shares.

Axis Capital Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited are the global coordinators and book running lead managers and ICICI Securities Limited, Edelweiss Financial Services Limited, IIFL Securities Limited, JM Financial Limited, YES Securities (India) Limited, SBI Capital Markets Limited and BOB Capital Markets Limited are the book running lead managers to the Initial Public Offering.

Macrotech Developers strength lies in, amongst others, its core business of residential real estate across consumer segments with a focus on affordable and mid income housing.

Macrotech Developers Ltd. on an average have completed 109 Lakh sqft of developable area during FY 2017-20, of which an average of 77 Lakh sq ft deliveries are in the affordable and mid-income housing segment. Also, the realty player clocked 57.77% of residential sales value from affordable and mid income housing in FY 2020, which further demonstrates its focus in this segment.

Macrotech Developer’s Palava Industrial and Logistics Park of ~800 acres land is well placed in the MMR region. Driven by high quality infrastructure, well planned parks and proximity to Navi Mumbai, JNPT port and upcoming international airport, the park benefits from its easy connectivity to the full social eco-system of Palava City. The park offers a range of options including built to suit structures, standard structures and land parcels. In 2021, Bati Mumbai Private Limited (“Batilogistics”) signed an agreement to purchase 30 acre land parcel at Palava Industrial and Logistics Park for approx. INR 106 Cr. In 2019, Macrotech Developer’s entered into a joint venture partnership with ESR Mumbai 3 Pte. Limited, a subsidiary of ESR Cayman Limited, an Asia Pacific focused logistics real estate platform. Additionally it has a non-binding term sheet valued at approx. Rs 334 crs including stamp duty with a subsidiary of an affiliate of Morgan Stanley Real Estate to set up an industrial park of approx. 130 acres at Palava.

Macrotech Developers Limited has land reserves of approximately 3803 acres for future development in MMR with a potential to develop approximately 322 mn sq feet of Developable area as on Dec 31, 2020.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP.