Lodha Developers IPO in Oct-Nov

Lodha Developers IPO (initial public offering) is expected around October-November, 2009. Lodha Developers are looking to raise around Rs 2,000-2,500 crore through the IPO. Lodha Developers may file DRHP in the next 4 weeks and considering to sell 12-13% stake via IPO .

JPMorgan, Enam Securities are the merchant bankers for the Lodha Developers IPO. Amarchand Mangaldas will act as legal advisors.

Lodha Developers IPO objective

Lodha Developers IPO may offer an exit route to Deutsche Bank’s $425 million investment. Deutsche Bank had invested in Lodha via CCDs (Compulsory Convertible Debenture) in 2007.

A part of the IPO proceeds will be used for reduction in debt, as the current debt of the company stands at nearly Rs 700 crore. This money will also be used for expansion plans.

Keep visiting for more information on Lodha Developers IPO.

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