Macrotech Developers raises about Rs 3,300 crore equity through QIP, ET RealEstate
NEW DELHI: Macrotech Developers has raised about Rs 3,300 crore (USD 400 million) equity through qualified institutional placement (QIP) from both existing and new as well as global and domestic investors.
The book was oversubscribed by nearly three times. This is the fourth equity raise by the company in the last 36 months with which it has raised over Rs 13,000 crore of capital.
Existing shareholders of the company such as Capital Group, GQG, Nomura, ADIA, HDFC Life enhanced their investment through this QIP. It also saw participation of Invesco Oppenheimer, Blackrock, Carmignac, Franklin Templeton, Norges, Lazard, APG, RWC etc.
Abhishek Lodha, MD & CEO of the company said, “With this capital raise, our balance sheet is exceptionally placed and will give us the opportunity to improve profitability, while we continue to deliver on our growth outlook.”
