Realty company Macrotech Developers is likely to launch a qualified institutional placement, sources told CNBC-TV18. The company plans to raise ₹3,300 crore through the QIP with an indicative price at a discount of more than 7% to the closing price and less than 3% to the SEBI floor price, people with knowledge of the matter said.
CNBC-TV18 has also learned that Kotak Sec is the banker to the deal.
#NewsFlash | Macrotech Developers (#Lodha) likely to launch #QIP worth ₹3,300 crore, sources to @kothariabhishek pic.twitter.com/BOWOhps4Af
— CNBC-TV18 (@CNBCTV18Live) March 4, 2024
Macrotech Developers, which has also previously utilised the QIP route, announced on December 12, 2022, that its board had sanctioned a fundraise of ₹3,547 crore. The company, which has witnessed a remarkable 60% surge in its share price over the last six months, disclosed its intention to sell around 7.2% of its shares to institutional investors at an issue price of ₹1,026 per share. The deal was launched on December 7.
(Edited by : Asmita Pant)
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