Lodha Developers intends to raise USD 1 billion via IPO

Realty major Lodha Developers is looking to raise up to One billion dollars through an initial public offering (IPO) that is expected to be launched next year, as per reliable sources from the company. The company has hired Citic CLSA, Kotak & Morgan Stanley for the IPO, and it is further expected that more banks likely to join the syndicate

Lodha Group has more than 30 real estate projects in London, Mumbai, Pune and Hyderabad covering over 40 million sq. ft of area. It has a land bank of 350 million sq. ft for future development.  The company group has achieved sales bookings of nearly Rs.8500 cr, last year from both domestic market and London.

The BSE Realty Index is up 97% since the start of the year.