Lodha Developers Limited Ipo

About Company

Incorporated in 1995, Mumbai based Lodha Developers Limited is a company engaged in the business of real estate development. According to Liases Foras, it was the largest real estate developer in India by residential Sales in 2017.

The company develops real estate across the residential and commercial sectors in the Mumbai Metropolitan Region (the "MMR"), Pune and London. In the residential sector, it develops properties with unit values ranging from ₹ 3.50 million to ₹ 590 million. In the commercial sector, it develops office and retail projects on lease model and sale model.

Lodha Developers focuses on branded realty and owns multiple brands including "CASA by Lodha" for affordable housing, the "Lodha" and "Lodha Luxury" for premium projects. In the office space, its brands include"iThink", "Lodha Excelus" and "Lodha Supremus".

As of December 31, 2017, the company had 37 ongoing projects (35 projects were in India and two were in London) accounting for a Developable Area of 33.80 million square feet. It had 22 planned projects in India with a Developable Area of 64.21 million square feet.

The company's overseas projects includes Lincoln Square on Carey Street and 1 Grosvenor Square in Mayfair. As of December 31, 2017, 114 units with total Sales value of GBP 277.65 million were sold.

Strengths of the Company:

1.      Leadership position with strong execution record.

2.      Multiple established brands.

3.      Strong presence in the attractive real estate markets of Mumbai and Pune.

4.      Diversified project portfolio in both residential and commercial sector.

5.      Caters to a wide spectrum of customer segments.

Company Promoters

1.      MANGAL PRABHAT LODHA

2.      ABHISHEK MANGAL PRABHAT LODHA

3.      SAMBHAVNATH INFRABUILD AND FARMS PRIVATE LIMITED

4.  MANGAL PRABHAT LODHA FAMILY (DISCRETIONARY TRUST)

Company financial

(Rs in millions)

Registrar to the issue

1.      Link Intime India Private Limited

Lead Managers

1.      BOB Capital Markets Limited

2.      CLSA India Private Limited

3.      HDFC Bank Limited

4.      ICICI Securities Limited

5.      IIFL Holdings Limited

6.      IL&Fs Investsmart Securities Ltd

7.      JM Financial Consultants Private Limited

8.      Kotak Mahindra Capital Company Limited

9.      Morgan Stanley India Company Pvt Ltd

10.  UBS Securities India Private Limited

11.  Yes Securities (India) Limited

Objects of the Issue:

The objects of the fresh issue are_

1.      Reduction of the aggregate outstanding borrowings of the Company on a consolidated basis.

2.      General corporate purposes.

Risk factors

1.      This being the first public issue of our Company, there has been no formal market for the Equity Shares.

2.      Investments in equity and equity-related securities involve a degree of risk and investors should not invest any funds in the Offer unless they can afford to take the risk of losing their investment.