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    543287   INE670K01029

MACROTECH DEVELOPERS LIMITED

(543287)
  Report
End-of-day quote Bombay Stock Exchange  -  2023-02-05
998.70 INR   +2.26%
01/27Jefferies Adjusts Macrotech Developers' Price Target to INR1,325 From INR1,275, Keeps at Buy
MT
01/25India's DLF posts rise in Q3 profit on reduced costs and stable demand
RE
01/25Transcript : Macrotech Developers Limited, Q3 2023 Earnings Call, Jan 25, 2023
CI
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India's Macrotech Developers plans $450 million share sale - sources

12/07/2022 | 01:15am EST

NEW DELHI (Reuters) - Indian real estate company Macrotech Developers Ltd, part of the Lodha group, plans to raise $450 million via a qualified institutional placement that will see its controlling family selling a stake of about 7%, two sources told Reuters.

Macrotech operates 85 million square feet of land and has 95 million more under development. It is known for its premium real estate, including a tie-up with former U.S. president Donald Trump for a building in the Indian financial capital of Mumbai.

The company has appointed investment banks Jefferies and Kotak to manage the deal, said the sources, declining to be identified as a deal is likely to be launched in stock markets this week.

Buyers for the stake have yet to be finalised but Singapore's sovereign wealth fund GIC and U.S. investment fund Capital Group had expressed interest, the sources said.

Lodha, Jefferies, Kotak and GIC did not immediately respond to emails seeking comment while Capital Group declined to comment.

A qualified institutional placement helps publicly listed companies raise capital from domestic markets without the usual standard regulatory compliance and allows only institutional investors to take part in the offer.

(Editing by Kim Coghill)

By M. Sriram


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
MACROTECH DEVELOPERS LIMITED 2.26% 998.7 End-of-day quote.-8.50%
MSCI SINGAPORE (GDTR) -0.61% 5900.94 Real-time Quote.6.76%
All news about MACROTECH DEVELOPERS LIMITED
01/27Jefferies Adjusts Macrotech Developers' Price Target to INR1,325 From INR1,275, Keeps a..
MT
01/25India's DLF posts rise in Q3 profit on reduced costs and stable demand
RE
01/25Transcript : Macrotech Developers Limited, Q3 2023 Earnings Call, Jan 25, 202..
CI
01/24Macrotech Developers Records Rise in Fiscal Q3 Consolidated Net Profit
MT
01/24Indian shares set to open lower on growth fears
RE
01/24India's Macrotech Developers profit rises on deferred tax gain
RE
01/24Macrotech Developers Limited Reports Earnings Results for the Third Quarter and Nine Mo..
CI
01/05Macrotech Developers : Updates
PU
2022Macrotech Developers Plans INR3.3 Billion Investment to Develop Warehousing Facility
MT
2022Macrotech Developers Raises INR35.5 Billion From Share Sale
MT
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Analyst Recommendations on MACROTECH DEVELOPERS LIMITED
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Financials
Sales 2023 93 026 M 1 124 M 1 124 M
Net income 2023 2 381 M 28,8 M 28,8 M
Net Debt 2023 76 294 M 921 M 921 M
P/E ratio 2023 268x
Yield 2023 0,15%
Capitalization 482 B 5 816 M 5 816 M
EV / Sales 2023 6,00x
EV / Sales 2024 4,84x
Nbr of Employees 3 359
Free-Float 15,7%
Chart MACROTECH DEVELOPERS LIMITED
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Technical analysis trends MACROTECH DEVELOPERS LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 16
Last Close Price 999,60 INR
Average target price 1 282,94 INR
Spread / Average Target 28,3%
EPS Revisions
Managers and Directors
Abhishek Mangal P. Lodha Chief Executive Officer, MD & Director
Sushil Kumar Modi Chief Financial Officer
Mukund Manohar Chitale Chairman
Rahul Mahajan President-Information Technology
Sanjyot Rangnekar Secretary & Compliance Officer