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Macrotech Developers to raise ₹125 cr through issue of debentures

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Mar 28, 2024 09:18 PM IST

The executive committee of the Board of Directors of Macrotech Developers has approved the allotment of 12,500 non-convertible debentures of ₹1 lakh each

Mumbai-based real estate major Macrotech Developers Ltd, that sells properties under the Lodha brand, said on March 28 that it will raise 125 crore through the issue of non-convertible debentures (NCDs).

<source media="(max-width:767px)" srcset="https://www.hindustantimes.com/ht-img/img/2024/03/28/400×225/_db2a7ed6-cb25-11e9-9a71-0afbe126130e_1711640701445.jpg" alt="Mumbai-based real estate major Macrotech Developers Ltd that sells properties under the Lodha brand, said on March 28 that it will raise 125 crore through the issue of non-convertible debentures (NCDs). (Picture for representational purposes only)” title=”Mumbai-based real estate major Macrotech Developers Ltd that sells properties under the Lodha brand, said on March 28 that it will raise 125 crore through the issue of non-convertible debentures (NCDs). (Picture for representational purposes only)”> <img src="https://www.hindustantimes.com/ht-img/img/2024/03/28/550×309/_db2a7ed6-cb25-11e9-9a71-0afbe126130e_1711640701445.jpg" alt="Mumbai-based real estate major Macrotech Developers Ltd that sells properties under the Lodha brand, said on March 28 that it will raise 125 crore through the issue of non-convertible debentures (NCDs). (Picture for representational purposes only)” title=”Mumbai-based real estate major Macrotech Developers Ltd that sells properties under the Lodha brand, said on March 28 that it will raise 125 crore through the issue of non-convertible debentures (NCDs). (Picture for representational purposes only)”>
Mumbai-based real estate major Macrotech Developers Ltd that sells properties under the Lodha brand, said on March 28 that it will raise 125 crore through the issue of non-convertible debentures (NCDs). (Picture for representational purposes only)

The executive committee of the Board of Directors of Macrotech Developers has approved the allotment of 12,500 non-convertible debentures of 1 lakh each aggregating to 125 crore, the company said in a regulatory filing.

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“Pursuant to Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that the Executive Committee of the Board of Directors of the Company has today i.e., March 28, 2024, approved the allotment of 12,500 rated, listed, senior, secured, redeemable, taxable, transferable non-convertible debentures of 1,00,000 each aggregating to 125 Crore. (“Secured NCDs”),” the company said in a regulatory filing.

Also Read: Mumbai real estate: All that you need to know about ‘bulk’ property deals being registered in the financial capital

The company said in a separate filing that it has acquired 50% of the paid-up equity capital and other securities/instruments of Siddhivinayak Realties Pvt Ltd under a share purchase agreement (SPA).

Also Read: Lodha group inks JDA for a luxury project on Worli promenade

“We hereby inform of the acquisition of 50% of the paid-up equity capital and; other securities / instruments of Siddhivinayak Realties Private Limited under a Share Purchase Agreement (“SPA”),” it said.

Recently, Macrotech Developers raised 3,300 crore by selling shares to institutional investors. 

Also Read: 15 real estate firms, including DLF, figure in the list of India’s most valuable companies

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