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Macrotech Developers Ltd trying to close Rs 2,500-crore IPO by April 10

Macrotech Developers, or the erstwhile Lodha Developers, is expected to close its proposed Rs 2,500-crore initial public offer (IPO) by April 10. The country’s largest property developer by sales is about to file its updated prospectus with the capital markets regulator, and the final nod is expected mid-next week.
As per its FY20 annual report, its consolidated revenues stood at ₹12,486 crore. Macrotech has been involved in luxury projects including the Trump Towers in Mumbai and Grosvenor House in London.
The company previously tried to raise Rs 2,800 crore via IPO in September 2009 and later in 2018. The global recession forced it to shelve the issue in 2009, while it retreated in 2018 due to adverse conditions in the sector.

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