Macrotech Developers IPO
Macrotech Developers Limited (LODHA) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 19 April 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -2.6% (likely range -9% to +4%), day's high +3.1%, chance of a gain 33%. Actual: -10.3% at the open, -1.6% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,02,27,742 | 3,11,46,270 | 3.05x | |
| NII (HNI) total | 76,70,808 | 1,10,30,400 | 1.44x | |
| Retail | 1,78,98,551 | 71,82,510 | 0.40x | |
| Employees | 6,21,118 | 1,05,300 | 0.17x | |
| Total | 3,64,18,219 | 4,94,64,480 | 1.36x |
Bids on NSE and BSE together, as published by NSE, as of 09 Apr 2021, 05:00 PM. Shares offered exclude the anchor portion. 11% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Macrotech Developers's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Chalet HotelsJan 2019 | 4.66x | 1.10x | 0.03x | 1.57x | ₹1,649 Cr | +5.0% | +7.1% |
| Aavas FinanciersSep 2018 | 2.77x | 0.26x | 0.25x | 0.97x | ₹1,734 Cr | -8.7% | -4.1% |
| Aster DM HealthcareFeb 2018 | 2.10x | 0.55x | 1.18x | 1.31x | ₹1,010 Cr | -3.7% | -1.1% |
| Varun BeveragesOct 2016 | 4.94x | 0.42x | 0.82x | 1.86x | ₹1,112 Cr | -3.4% | +6.0% |
| Bharat DynamicsMar 2018 | 1.50x | 0.50x | 1.41x | 1.30x | ₹1,667 Cr | -13.6% | -5.9% |
| HealthCare Global EnterprisesMar 2016 | 2.36x | 0.43x | 0.83x | 1.56x | ₹650 Cr | -3.6% | -2.8% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Edelweiss Financial Services | 16 | +25.0% | 69% |
Offer documents (NSE)
Frequently asked
What is the Macrotech Developers IPO price band and lot size? ₹483–486 per share, with a lot of 30 shares, so the smallest retail bid is ₹14,580.
How many times has it been subscribed? 1.36x overall: QIB 3.05x, NII 1.44x, retail 0.40x, employees 0.17x.
How did it list? It opened at ₹436, -10.3% against the issue price of ₹486, and closed its first day -4.3%.
