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  1. Amid the IPO rush in 2017, this real estate major is next to join the party

Amid the IPO rush in 2017, this real estate major is next to join the party

The realty company is eyeing to raise $1 billion through an initial public offering (IPO) and the same is most probably to be launched in 2018.

By: | Published: December 21, 2017 6:08 PM

 

Lodha Group is a privately-held real estate developer based in Mumbai.

The latest company to join the rush for launching an IPO in 2017 is real estate major Lodha Developers. The realty company is eyeing to raise $1 billion through an initial public offering (IPO) and the same is most probably to be launched in 2018, as per a report by Thomas Reuters. The companies have so far raised a record of more than $11 billion through IPOs so far this year. The company had planned an IPO of Rs 2,800 crore in 2010, but it was shelved due to a weak stock market. The real estate developer has hired Citic CLSA, Kotak and Morgan Stanley for the IPO, the people said, adding that more banks were likely to join the syndicate, IFR said.

As many as 153 initial public offers hit the Indian stock market this year, raising $11.6 billion, according to an EY report that says activity “looks good” for 2018 as well. According to the report released today, the fourth quarter (October-December) of this year saw 22 IPOs hitting the market, an increase of 47 percent quarter-on-quarter in terms of the number of deals.

About the company

Lodha Group is a privately-held real estate developer based in Mumbai, India established in 1980. The company is among India’s top real estate companies known for its world-class commercial and residential properties. The majority of the properties are located in Mumbai. They also have a presence in Hyderabad, Pune and London.

EY report on IPOs in 2017

The combination of primary market growth and overall economic growth is set to make India a highly attractive emerging market for investments in the coming months, it said. “The current market valuations offer a great opportunity to existing investors, however sustenance of the bull run in the long run will depend on a balance between offer for sale and fresh equity for growth,” said a recently released EY report.  “India’s IPO market looks good for 2018. The combination of primary market growth and overall economic growth is set to make India a highly attractive emerging market for investments for the coming months,” the report added. Emerging markets contributed strongly to overall IPO performance, with India’s BSE and NSE recording a 74 percent increase in deal numbers in 2017. The top three sectors by highest number of IPOs in EMEIA region are technology, industrials and financials.

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