Macrotech Developers has raised Rs 4,000 crore through qualified institutional placement (QIP) and allotted 3,41,88,034 Equity Shares of face value Rs 10 each to eligible qualified institutional buyers at the issue price of Rs 1,170 per Equity Share (including a premium of Rs 1,160 per Equity Share) against the floor price of Rs 1,184.70 per Equity Share.
Pursuant to the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Company stands increased to Rs 4,815.06 million, comprising of 48,15,06,362 Equity Shares. The board of directors of the Company has, at its meeting held on November 18, 2021 approved the same.
Macrotech Developers is one of the largest real estate developers in India, by residential Sales value for the financial years 2014 to 2020.
