Lodha Developers plans to raise $1bn via IPO

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Lodha Developers is planning to raise up to $1bn through an initial public offering that is likely to be launched next year, according to reports.

The company had planned an IPO of INR 2,800 crore ($437 million) in 2010, but it was postponed due to a weak stock market.

Report says that the company has hired Citic CLSA, Kotak and Morgan Stanley for the IPO.

The Group is currently developing an estimated 43 million sq ft of prime real estate with the largest land reserves in MMR, and has 28 ongoing projects across London, Mumbai, Pune and Hyderabad and expanding in Bangalore.

 

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Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.
yash@newsbarons.com