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<ul><li>Marcotech Developers is now live on the exchanges listing at a share price of ₹436.</li><li>This is a 10.3% dip from the subscription price of ₹486 per share.</li><li>Prior to listing, the ₹2,500 IPO saw lukewarm response from investors, only being subscribed to 1.36 times. </li></ul><keyword id="7940335" type="UNKNOWN" weightage="20" keywordseo="Macrotech-Developers">Macrotech Developers</keyword>, formerly known as <keyword id="6473062" type="UNKNOWN" weightage="20" keywordseo="Lodha-Developers">Lodha Developers</keyword>, saw its initial public offering (IPO) list at a 10.3% discount on the National Stock Exchange (NSE). Its share price at 10:00 am, the time of listing, was ₹436 versus the subscription price of ₹486. Within the first 10 minutes, the price was able to reach a high of ₹472.95 before dipping back down to ₹458 at 10:10 am. The company’s ₹2,500 crore initial public offering (IPO) received a lukewarm response from investors after only seeing a subscription rate of 1.36 times. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.05 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.44 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.40 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.36 times </td></tr></tbody></table> According to analysts, the company is a good bet if you were willing to hold on to the stock for the long run — not for its listing premium. So, if you have the shares and are concerned that there’s been a loss on premium, keep the stock if you have the patient. Why are investors wary of Macrotech Developers? One of the reasons for investors to be wary was the company’s high level of debt. Around ₹1,500 crore of funds from the IPO will go towards repaying lenders to ease its balance sheets. But that doesn’t mean that it won’t need more money, which brings us two the second reason investors were vary about putting their money into the offer. Marcotech Developers is operating in a capital intensive sector, the real estate industry, during a pandemic. Any delays due to a lockdown, curfew or the implementation of restrictions like Section 144, could add to its costs — especially since the majority of its projects are in India’s financial capital, Mumbai. The city has been one of the worst hit in all of India during the second wave of the pandemic. “If the company does not have access to funds required on favourable terms, it may be required to delay or abandon some or all planned projects or reduce the scale of operations,” noted Capital Markets in its preview. The brokerage pointed out that the company has earlier difficulties in serving its debt. It was among the companies that availed the moratorium offered by the Reserve Bank of India (RBI) for six months during the pandemic, from March to August 2020. The size of Macrotech Developers has its own loopholes The problem with Macrotech Developers possibly having to reduce its scale of operations due to the uncertainty propagated by the pandemic is that it’s one thing it has playing in its favour. Macrotech Developers is one of the largest players in the Indian real estate market going up against behemoths like Godrej Properties, Sunteck Realty, and Oberoi Realty. And so far, it has consistently outperformed all its peers when it comes to sales, as per Hem Securities. It has a strong distribution network, not just in India, but in foreign markets like the UK, the US, Singapore and the Gulf Cooperation Council (GCC). But even that comes with its own loopholes. “Large construction projects in all parts of the world provide opportunities for corruption, fraud or improper conduct, including bribery, deliberate poor workmanship, theft or embezzlement by employees, contractors or customers or the deliberate supply of low-quality materials, which may delay development of projects,” said Capital Market’s report. Yes, it's one of the biggest players in the residential real estate market, but being so big at a time when the real estate market is witnessing its biggest slump in five years can be dangerous — even with home loans rates on the downtrend. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/razorpay-raises-160-million-at-3-billion-valuation-plans-for-more-acquisitions/articleshow/82137901.cms">Razorpay raises $160 million at $3 billion valuation, plans for more acquisitions</a> <a href="https://www.businessinsider.in/stock-market/news/hdfc-bank-macrotech-developers-adani-ports-and-other-stocks-to-watch-out-for-on-april-19/slidelist/82137367.cms">HDFC Bank, Macrotech Developers, Adani Ports and other stocks to watch out for on April 19</a>

Macrotech Developers IPO lists at 10% discount — analysts recommend that shareholders should wait it out

<ul><li>Macrotech Developers, formerly known as Lodha Developers, is ready to go public after over a decade, even as uncertainty looms over the realty sector.</li><li>The biggest risk factor with the company is its high debt.</li><li>It is uncertain how the COVID-19 pandemic will play out and if the company will be able to raise funding in a capital intensive industry that’s witnessing a slowdown.</li></ul>It has taken one of the largest real estate players in India, Macrotech Developers — formerly known as Lodha Developers — over a decade to get to this point, but the company is finally going public. The company’s core business is focused on building residential developments, which is good news since home loan interest rates in the country have been falling for the last five years. As of 2:00 pm on April 7, the Macro Developers' IPO was subscribed to 0.24 times. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IPO subscription </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">QIB </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.58 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NII </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.09 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">RII </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.10 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.01 times </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.24 times </td></tr></tbody></table> “Home loan interest rates in India have been the lowest in the past couple of years and this has led to a significant recovery in transactions in all classes of housing — affordable, mid segment and luxury,” said Rohit Poddar, managing director of Poddar Housing and Development — a listed competitor to Macrotech. However, the realty sector is one of the worst hit by the pandemic. And, according to analysts, the industry is facing its worst slowdown in the last five years. This risk is compounded by the fact that Macrotech Developers also has high indebtedness, which will partially be financed by the funds it raises from its ₹2,500 crore initial public offering (IPO). Considering that most of the company's projects are based out of the Mumbai Metro Region (MMR), its debt may be a cause for concern. The capital intensive and high indebtedness should be a hurdle when looking for further financing. “The high leverage ratio limits the scope of the company to absorb any shocks of unforeseen events,” said <keyword id="6357264" type="COMPANY" weightage="20" keywordseo="capital-market">Capital Market</keyword> in its review. Others, like <keyword id="197560" type="COMPANY" weightage="20" keywordseo="Reliance-Securities">Reliance Securities</keyword>, believe that while there are risk factors involved, the IPO seems to be reasonably priced as compared to its competitors, like Godrej Properties and DLF, at a price band of ₹482 to ₹486. It opines that despite the debt and the market outlook, Macrotech Developers has some big projects in the pipeline. “Moreover, its return ratio looks to be superior compared to peers,” said the review. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Choice Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Subscribe </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Capital Market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Avoid </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SMC Global </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Neutral </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="The ₹2,500 crore initial public offering (IPO) has been a long time coming" comment="subhead" text="The ₹2,500 crore initial public offering (IPO) has been a long time coming">The ₹2,500 crore initial public offering (IPO) has been a long time coming</cmsannotation> The company got the green light from the Securities and Exchange Board of India (<keyword id="35210" type="COMPANY" weightage="20" keywordseo="sebi">SEBI</keyword>) in 2009 and again in 2018, but shelved its plans for an IPO citing that the market was not ideal for the launch. Over ten years later, even with the threat of COVID 19 looming over markets and the realty sector surrounded in uncertainty, the Marcotech management believes that its IPO can persevere. This is slated to be the first IPO of the financial year 2021-22. <cmsannotation type="cmsannotation" annotationid="Macrotech Developers’ high debt" comment="subhead" text="Macrotech Developers’ high debt">Macrotech Developers’ high debt</cmsannotation> The money that the realty firm raises from its IPO will partially be used to repay the company’s borrowings. The rest shall be used for land acquisition or land development rights as well as general corporate expenditures. The draft red herring prospectus (DRHP) shows that Macrotech Developers’ aggregate debt stood at ₹18,662.19 crore as of 31 December 2020. “Macrotech Developers’ plan to reduce net debt to ₹12,700 crore in the coming quarters negates concerns over high levering. Further, strong project portfolio and monetisation of huge land banks offer comfort,” said Reliance Securities in its report. The company currently has 91 completed projects under its belt with another 36 in the works. This includes plans to develop a logistics and industrial park of over 800 acres in Mumbai, near Palava. “If the company does not have access to funds required on favourable terms, it may be required to delay or abandon some or all planned projects or reduce the scale of operations,” noted Capital Markets. And the larger issue of how the COVID-19 pandemic is going to play out brings in a lot of uncertainty. SEE ALSO: <a href="https://www.businessinsider.in/policy/news/rbi-has-increased-mobile-wallets-limit-with-2-lakh-and-need-full-kyc-also-for-mobile-wallets/articleshow/81946037.cms">You need to do full KYC for mobile wallets too – but you can store twice the amount of money</a> <a href="https://www.businessinsider.in/finance/news/rbi-forecast-shows-that-narendra-modi-administration-is-facing-its-worst-inflation-period-so-far/articleshow/81946820.cms">RBI forecast shows that Narendra Modi administration is facing its worst inflation period so far</a>

Macrotech Developers’ IPO has low home loan interest rate playing in its favour — but high debt and COVID-19 pandemic cloud its prospects

Equity benchmark <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> slumped over 300 points in early trade on Friday, tracking losses in index majors Reliance Industries, HDFC twins and Kotak Bank amid a negative trend in global markets and persistent foreign fund outflow. The 30-share index declined 319.82 points or 0.55 per cent to 57,581.32 in the opening trade. Similarly, the Nifty fell 91 points or 0.53 per cent to 17,157.40. Titan was the top loser in the Sensex pack, shedding over 3 per cent, followed by <keyword id="46869" type="General" weightage="20" keywordseo="mm" source="Orion">M&amp;M</keyword>, HUL, Maruti, Asian Paints and IndusInd Bank. On the other hand, <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword>, <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>, HCL Tech and <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> were among the gainers. In the previous session, the 30-share equity benchmark advanced 113.11 points or 0.20 per cent to settle at 57,901.14, and Nifty rose 27 points or 0.16 per cent to 17,248.40. Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 1,468.71 crore on Thursday, according to stock exchange data. There are three major headwinds to the market now - the fast spreading Omicron variant, relentless selling by FIIs and hawkish central banks, said VK Vijayakumar, Chief investment Strategist at Geojit Financial Services. "The countervailing tailwinds are the bullish DIIs and retail investors and the smart rebound in growth and corporate earnings. With the Bank of England becoming the first major central bank to hike rates on Thursday, after the hawkish Fed stance, there is an increasing realisation that inflation is turning more durable than thought earlier," he noted. Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul were trading with losses in mid-session deals. Stock exchanges on Wall Street ended on a negative note in the overnight session. Meanwhile, international oil benchmark Brent crude fell 0.79 per cent to USD 74.43 per barrel. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-rategain-travel-technologies-disappoints-ipo-investors/articleshow/88332140.cms">RateGain Travel Technologies makes a disappointing listing at 10% discount</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/these-8-ipos-of-2021-more-than-doubled-investors-money-so-far/slidelist/88327505.cms">Easy Trip Planners, Macrotech Developers, Barbeque Nation among top 2021 IPOs that delivered up to 175% returns during the year</a>

Sensex tumbles over 300 points in early trade, Nifty slips below 17,200 — Titan, M&M, HUL, Maruti, Asian Paints and IndusInd Bank top losers

Easy Trip Planners, Macrotech Developers, Barbeque Nation among top 2021 IPOs that delivered up to 175% returns during the year

Smartphone brand <keyword id="1731609" type="COMPANY" weightage="20" keywordseo="Oppo">OPPO</keyword> on Monday launched A54 in India with a 5,000mAh battery, triple rear camera and 18W fast charging technology, that starts from ₹13,490. OPPO A54 with 4GB RAM + 64GB ROM will cost ₹13,490, the 4GB RAM + 128GB ROM variant will be available for ₹14,490 and the and 6GB RAM + 128GB ROM model will cost ₹15,990. The 16.55cm A54 with punch-hole display and housing Mediatek Helio P35 (MT6765) <keyword id="2209870" type="COMPANY" weightage="20" keywordseo="Octa-core-processor">Octa-Core Processor</keyword> will be available from April 20 in three colours (Crystal Black, Starry Blue and Moonlight Gold) in <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> and retail outlets in the country, the company said in a statement. "A Series is designed to enhance or complement our users' lifestyles and OPPO A54 achieves just this with a phone that manages to balance a high-end performance with contemporary design," said Damyant Singh Khanoria, Chief Marketing Officer, <keyword id="2034172" type="COMPANY" weightage="20" keywordseo="Oppo-India">OPPO India</keyword>. According to the company, the 5000mAh battery will last up to 2.2 days on a single charge or give 19.9 hours of YouTube video playback. The users can expand storage capacity to 256GB with a Micro SD card. The smartphone comes with Face Recognition and Side Fingerprint Unlock technology. The rear camera system features a 13MP main camera, 2MP macro camera for close range shots and 2MP Bokeh. There is a 16MP front camera for selfies. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/macrotech-developers-lists-at-10-discount-analysts-recommend-that-shareholders-should-wait-it-out/articleshow/82138450.cms">Macrotech Developers lists at 10% discount — analysts recommend that shareholders should wait it out</a> <a href="https://www.businessinsider.in/business/startups/news/razorpay-raises-160-million-at-3-billion-valuation-plans-for-more-acquisitions/articleshow/82137901.cms">Razorpay raises $160 million at $3 billion valuation, plans for more acquisitions</a> <a href="https://www.businessinsider.in/india/news/what-is-allowed-and-what-is-not-during-the-15-days-lockdown-in-rajasthan/articleshow/82138686.cms">Here’s the list of what is allowed and what is not during the 15 days lockdown in Rajasthan</a>

OPPO launches A54 smartphone in three variants in India starting at ₹13,490

HDFC Bank, Macrotech Developers, Adani Ports and other stocks to watch out for on April 19

<ul><li>Investors can start checking whether or not they were allotted shares of ₹2,500 crore <keyword id="11101731" type="UNKNOWN" weightage="20" keywordseo="marcotech-developers-ipo">Marcotech Developers IPO</keyword> today, April 16.</li><li>The IPO saw muted demand being subscribed to 1.36 times after the bidding process closed on April 9.</li><li>Here is how to check <keyword id="11101732" type="UNKNOWN" weightage="20" keywordseo="marcotech-developers-ipo-allotment">Marcotech Developers IPO allotment</keyword> status on the registrar website and stock exchanges.</li></ul>Macrotech Developers is finally ready to hit the Indian stock exchanges after three attempts. The company will be announcing the allotment status of its ₹2,500 initial public offering (IPO) today, April 16. The realty giant has a lot of things working in its favour — like being one of India’s largest real estate developers, having an established brand identity, a diversified portfolio, and having ready to move units on standby. Yet, its IPO saw muted demand. It was only subscribed to 1.36 times when the bidding process closed on 9. What kind of premium it may fetch will only be revealed once the company is listed on April 19. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.05 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.44 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.40 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.36 times </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="COVID-19 hits the markets, realty already has its own problems" comment="subhead" text="COVID-19 hits the markets, realty already has its own problems">COVID-19 hits the markets, realty already has its own problems</cmsannotation> In addition to the second wave of COVID-19 dampening the market sentiment, analysts are concerned about how Macrotech Developers will be able to persevere through the tough times. This is because while other sectors are facing the brunt of the pandemic as well, realty is seeing its worst slow down in five years. Moreover, the nature of the realty industry is capital intensive, and the company has a lot of debt on its plate — ₹1,500 crore of its fresh funds will be going towards reducing its borrowings. The silver lining is that home loan interest rates have been on the downturn over the past couple of years. That means it's becoming cheaper for people to borrow from the bank in order to buy a house. And Macrotech Developers’ operates across all classes, from luxury to mid-segment to affordable. <cmsannotation type="cmsannotation" annotationid="Here is how to check Marcotech Developers IPO allotment status:" comment="subhead" text="Here is how to check Marcotech Developers IPO allotment status:">Here is how to check Marcotech Developers IPO allotment status:</cmsannotation> If you subscribed to the Marcotech Developers IPO, you could check your allotment status by following these simple steps: To check on the stock-exchange website: <ul><li>To check Marcotech Developers IPO allotment status, go to the<a href="https://www.bseindia.com/investors/appli_check.aspx"> BSE website</a> or <a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp">NSE website</a> here.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'Marcotech Developers'. </li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>Please note the details will only be available once the shares are allotted. You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on ‘Marcotech Developers'. It will only appear post allotment on April 19.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click 'submit'. </li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. <ul><li>Investors can start checking whether or not they were allotted shares of ₹2,500 crore Marcotech Developers IPO today, April 16.</li><li>The IPO saw muted demand being subscribed to 1.36 times after the bidding process closed on April 9.</li><li>Here is how to check Marcotech Developers IPO allotment status on the registrar website and stock exchanges. </li></ul> SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/remdesivir-injection-price-jumps-five-times-as-covid-19-cases-rise/articleshow/82083414.cms">The utter chaos and confusion over Remdesivir in India is making the COVID-19 second wave worse</a> <a href="https://www.businessinsider.in/careers/news/wipro-fears-it-may-lose-its-employees-to-competitors-as-there-is-an-explosion-of-it-jobs/articleshow/82086258.cms">Wipro fears it may lose its employees to competitors as there is an explosion of IT jobs</a> <a href="https://www.businessinsider.in/india/news/delhi-weekend-curfew-guidelines-checkout-what-is-allowed-and-what-is-not/articleshow/82086601.cms">Checkout what is allowed and what is not in the new guidelines issued by the Delhi government</a>

Macrotech Developers IPO — here is how to check share allotment status

<ul><li>The basis of allotment for the ₹2,500 crore IPO of Marcotech Developers is set to be announced tomorrow on April 16.</li><li>The IPO saw muted demand being subscribed to 1.36 times after the bidding process closed on April 9.</li><li>Marcotech Developers will make its stock market debut on April 19 and officially become a listed company.</li></ul>Before Macrotech Developers makes its debut on the Indian stock exchanges, it is set to announce who was able to get its shares — and who got left out — on April 16. Despite being one of India’s biggest real estate companies, the ₹2,500 crore offer saw muted demand. <keyword id="11101731" type="UNKNOWN" weightage="20" keywordseo="marcotech-developers-ipo">Marcotech Developers IPO</keyword> was subscribed to 1.36 times after the bidding process closed on April 9. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Macrotech Developers IPO </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Qualified Institutional Buyer </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Non-institutional Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail Individual Investor </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.05 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.44 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.40 times </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.36 times </td></tr></tbody></table> <cmsannotation type="cmsannotation" annotationid="Marco Developers’ will be live on the Indian exchanges on April 22" comment="subhead" text="Marco Developers’ will be live on the Indian exchanges on April 22">Marco Developers’ will be live on the Indian exchanges on April 22</cmsannotation> This is Macrotech Developers’ third attempt to launch an IPO. The company had initially filed a draft red herring prospectus in September 2009 and then again in April 2018. But, during both instances, plans were shelved amid market turmoil. Now, it’s finally ready to hit the exchanges as an officially listed company on April 19, despite the risk posed by the spike in COVID-19 infections across the country and the globe. “The resurgence of the Covid-19 infection and discontinuation of stamp duty waiver on property registration would dent the sentiment in the near term,” said Choice Broking in its report. It recommends that those who do get the shares, should hold onto them for the long run. Majority of the funds raised from the IPO — to the tune of ₹1,500 crore — will be used to reduce Macrotech Developers’ outstanding debt. Around ₹375 crore will be used for land acquisition and land development. Anything that’s left over will go towards general corporate purposes. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/infosys-plans-to-hire-25000-freshers-over-the-next-12-months/articleshow/82068304.cms">Infosys plans to hire 25,000 freshers over the next 12 months — a 26% boost for campus hiring in India</a> <a href="https://www.businessinsider.in/politics/news/indias-largest-opposition-party-blames-national-media-for-its-lack-of-influence-but-its-new-youtube-channel-may-only-be-targeting-the-hindi-belt/articleshow/82069526.cms">India's largest opposition party blames national media for its lack of influence — but its new YouTube channel may only be targeting the Hindi belt</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapps-new-privacy-policy-doesnt-give-you-choice-and-could-limit-your-options-in-the-future-too/articleshow/82063830.cms">WhatsApp's new privacy policy doesn't give you choice — and could limit your options in the future too</a>

Macrotech Developers IPO — check share allotment date, listing date and more

<keyword id="125045" type="CITY" weightage="20" keywordseo="Fitch-Ratings">Fitch Ratings</keyword> has withdrawn the ratings on <keyword id="7940335" type="COMPANY" weightage="20" keywordseo="Macrotech-Developers">Macrotech Developers</keyword> (formerly Lodha Developers) but has retained its existing rating CCC, which is junk or below investment grade.Fitch has affirmed the long-term foreign currency issuer default rating on Macrotech at CCC and has also simultaneously withdrawn the ratings for commercial reasons, the agency said on Thursday. The rating affirmation reflects the assessment that there are no material changes to its credit profile since the last rating action on March 13. Normally ratings are withdrawn if the issuer is not cooperating or ask for withdrawal. Lodha's Response Fitch had undertaken rating for our USD bond maturing in March 2020 which was repaid in full. On repayment, we have asked them to discontinue the rating which has now been done. The repayment of our bond on time inspite of the most difficult market circumstances demonstrates how weak the rating rationale of such agencies is." Said company spokesperson

Fitch withdraws Lodha's rating

As Finance Minister Nirmala Sitharaman unveiled the Union <keyword id="19955368" type="General" weightage="20" keywordseo="budget-2024" source="keywords">Budget 2024</keyword>, all eyes were on the <keyword id="20024321" type="General" weightage="20" keywordseo="housing-sector" source="keywords">housing sector</keyword>, which has been a focal point for both developers and <keyword id="19907145" type="General" weightage="20" keywordseo="homebuyers" source="keywords">homebuyers</keyword>. Expectations were high for increased deduction limits on home loan interest repayments, higher principal repayment deductions, and more robust incentives for first-time homebuyers. Last year's budget focused on increasing <keyword id="20254620" type="General" weightage="20" keywordseo="affordable-housing" source="keywords">affordable housing</keyword> through the Pradhan Mantri Awas Yojana (<keyword id="19945794" type="General" weightage="20" keywordseo="PMAY" source="keywords">PMAY</keyword>), with a significant allocation to achieve the goal of "Housing for All." The <keyword id="20152263" type="General" weightage="20" keywordseo="real-estate-sector" source="keywords">real estate sector</keyword> had previously seen incentives for developers building affordable housing, such as tax holidays under Section 80IBA and increased allocation through the SWAMIH fund to improve liquidity for stressed projects. <h2>Major announcements in Budget 2024</h2>As per FM Sitharaman's 2024 Budget announcements, PMAY is set to add an additional 3 crore affordable housing — houses priced under Rs 40 lakh — in rural and urban sections of India. This will be accomplished with Rs 10 lakh crores, which includes assistance of Rs 2.2 lakh crores over the next five years. A provision of <keyword id="21240797" type="General" weightage="20" keywordseo="interest-subsidy" source="keywords">interest subsidy</keyword> to facilitate loans at affordable rates is also envisaged, the FM noted in her speech. “This is certainly pertinent – the affordable homes category has been seeing a decline in overall sales since the pandemic, to approximately 19% in H1 2024 from over 38% in the period before the pandemic in 2019,” notes Anuj Puri, Chairman of ANAROCK Group. “Consequently, this segment’s percentage share of the total housing supply in the top 7 cities also fell to 18% in H1 2024 from nearly 40% in 2019. Any boost to this vital segment is therefore welcome.” As per December 2023 reports, 65% of houses under PMAY-Urban had been completed and delivered to beneficiaries since the scheme was introduced in 2015. This amounts to over 78 lakh pucca houses out of the 1.18 crore sanctioned. The new addition to PMAY will thus attempt to more than triple the quadruple the number. <h2>Tax reliefs and transparent rental policies</h2>This year, the sector expected further <keyword id="20345361" type="General" weightage="20" keywordseo="tax-relief" source="keywords">tax relief</keyword> measures for homebuyers and developers. Key demands are aplenty, including increasing the deduction limit for home loan interest repayment from the current Rs 2 lakhs to Rs 3-4 lakhs for self-occupied properties, reintroducing tax exemptions for first-time homebuyers, standardising the definition of "Affordable Housing", and reducing GST on construction materials like cement and steel. However, there has been only disappointments on this front based on the announcements so far. However, in terms of the tax changes, the Budget has proposed a massive reduction in rental matters for the individual. While the current tax deducted at source (TDS) for Payment of rent by individuals or HUF under Section 194-IB stands at 5%, the new budget is set to bring this down to 2%, effective from October 1, 2024. <div type="Article" hostid="261" msid="111946291" title="Union Budget 2024-25 key highlights: Angel tax to be scraped" mstype="2" mssubtype="0"></div>Further, the government has promised to enable and implement policies and regulations for efficient and transparent <keyword id="20071228" type="General" weightage="20" keywordseo="rental-housing" source="keywords">rental housing</keyword> markets with enhanced availability. <h2>Additional initiatives</h2>Further, dormitory-style accommodations have also been announced for industrial workers in public-private partnership mode with Viability Gap Funding (VGF) support and commitment from anchor industries. VGF is a scheme that helps support important infrastructure projects that may not be financially viable, through grants that total up to 20% of the total project cost. The FM also announced that policies and regulations for efficient and transparent rental housing markets with enhanced availability will be put in place, to ease the rental and home-owning process. <div type="Article" hostid="261" msid="111953230" title="Union Budget 2024-25: Mobile Phones to get cheaper, as FM Nirmala Sitharaman reduces basic customs duty to 15%" mstype="2" mssubtype="0"></div>Markets are optimistic in the aftermath of these announcements, with many housing finance companies recording healthy gains since the speech. Puri notes that the renewed focus on rural and urban job creation, if effective, may provide some boost to affordable housing in even tier 2 and 3 cities. “The Finance Minister's allocation of ₹10 lakh crore to help 1 crore poor middle-class families buy houses will boost the demand for residential properties,” remarks Divyam Mour, Research Analyst at Samco Securities. ”This funding, along with interest subsidies, will greatly benefit real estate developers like DLF, Macrotech Developers, NBCC, and Sunteck Realty, as well as housing finance companies focused on the lower and middle classes, such as Aadhar Housing Finance, Aptus Value Housing Finance, and Aavas Financiers.”

Budget 2024: More affordable housing, lowered rent TDS — here’s what will change for the housing sector this year

Shopping mall operators are expected to earn 7-9 per cent higher revenue during this fiscal, driven by strong retail consumption and improved rentals in their properties, according to <keyword id="6359483" type="General" weightage="80" keywordseo="crisil" source="Orion">CRISIL</keyword>. "Buoyant retail sales and improved rental yields are expected to lift the revenue of mall operators by 7-9 per cent this fiscal. That would be tantamount to around 125 per cent of pre-pandemic, or fiscal 2020, revenue," it said in a statement. The rating agency said that the growth in revenue will be on a high base of FY23. During the last fiscal, CRISIL noted that "return to social normalcy after mobility curbs were lifted led to substantial growth in footfalls and a robust 60 per cent rise in revenue to around 116 per cent of the pre-pandemic level". "Additionally, high occupancy levels, solid profitability backed by cost-optimisation measures and strong balance sheets will keep the credit risk profiles of mall operators healthy this fiscal," the agency said. CRISIL Ratings has analysed 28 malls, which have leasable space of around 18 million square feet area spread across 17 cities, with a total debt of over Rs 8,000 crore. Typically, mall operators generate around 85 per cent of their income from minimum guaranteed rentals as per lease agreements, while the rest is linked to the revenue performance of the tenants. DLF, Brigade Enterprises, Macrotech Developers (Lodha Group), Nexus Select Trust, <keyword id="144998" type="General" weightage="50" keywordseo="phoenix-mills" source="Orion">Phoenix Mills</keyword>, Lulu Group, Pacific India, <keyword id="6436174" type="General" weightage="50" keywordseo="unity-group" source="Orion">Unity Group</keyword> and Ambience Group are operating Grade A shopping malls across major cities. "The exceptional revenue growth last fiscal was on a significantly weak base. In fiscals 2021 and 2022, revenue stood at 55 per cent and 74 per cent of the pre-pandemic level, respectively, as mall operators had waived off rent and allowed flexible payment terms to tenants in a bid to prevent any major decline in occupancy," the statement said. As the impact of Covid-19 waned and occupancy increased, the average per square feet leasing rate jumped 12-14 per cent in fiscal 2023, it added. "Considering the healthy performance of the sector, capex is expected to pick up over the near to medium term. While a sizeable part of it may be funded by equity from global investors, a large debt contracted for new developments will bear watching," the agency said. On the flip side, CRISIL said that the impact of the slowdown in advanced economies, and the manifestation of the lagged effect of repo rate hikes of the past can curtail discretionary spending, including retail sales. "This aspect will, therefore, be monitorable." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/maruti-suzuki-fronx-vs-brezza-comparison-which-car-should-you-buy-under-10-lakh/slidelist/99729841.cms">Maruti Suzuki Fronx vs Brezza – which car should you buy under ₹10 lakh?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/playstation-5-special-summer-offer-discount-for-all-the-ps5-variants/articleshow/99729513.cms">This could be your last chance to grab a PlayStation 5 at a ₹5000 discount in India</a>

You Searched For "macrotech" and got 11 results

Macrotech Developers IPO lists at 10% discount — analysts recommend that shareholders should wait it out

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Macrotech Developers IPO — here is how to check share allotment status

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Macrotech Developers IPO — check share allotment date, listing date and more

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Fitch withdraws Lodha's rating

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Budget 2024: More affordable housing, lowered rent TDS — here’s what will change for the housing sector this year

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Shopping mall operators' revenue to rise 7-9% this fiscal: CRISIL

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