“We have received the final approval from Sebi,” Lodha Developers Managing Director Abhisheck Lodha told PTI. The company had filed the draft red herring prospectus in September last year. Lodha said details would be finalised within the next 30 days in consultation with merchant bankers.
The company plans to raise up to Rs 2,790 crore from the IPO by diluting up to 15 per cent from its post-issue paid up capital. The company has earmarked over Rs 1,800 crore to meet construction cost of its projects and Rs 300 crore to repay debt of about Rs 1,000 crore.
Deccan Herald is on WhatsApp Channels| Join now for Breaking News & Editor's Picks