Lodha files draft papers for Rs 2,500 cr IPO

MUMBAI: R eviving its IPO plan f or the thir d time realty maj or Lodha Developers has filed draft papers wi th mar ket regulator Sebi f or its proposed initial pub lic offering t o raise ar ound Rs 2,500 cr ore, accor ding to sources.

Mumbai-based Lodha Developers Ltd, w hich has been renamed as Macrotech Developers, filed the draft red her ring pr ospectus (DRHP) w ith the Securities Exchange Board of India (Sebi).This would be the third attempt by Lodha Developers to launch a public issue and list its shares on the stock exchanges.

The company had filed its DRHP for the first time in September 2009, to raise about Rs 2,800 crore. It had received Sebi's nod in January 2010, but later shelved the plan due to unfavourable market conditions post the global financial crisis.

In April 2018, Lodha Developers again filed the DRHP and got SEBI's approval in July 2018.