Lodha Group is planning to file draft papers for IPO, according to reports.
Report says that the company will approach SEBI for IPO over the next 6-9 months.
The fund raising plans through IPO has not been specified yet. Earlier in 2010, the company received SEBI approval, but it was postponed due to poor markets.
Established in 1980, Lodha Group is India’s leading real estate developer and amongst the world’s select multinational real estate developers with presence in India and the United Kingdom.
The company is the largest in India by sales for four consecutive years, having clocked over Rs. 6,400 Cr of net news sales for FY 15-16. The company is currently developing around 4.1 crore sq. ft. of prime residential real estate globally with the largest land reserves in the Mumbai Metropolitan Region and has 31 ongoing projects across London, Mumbai Metropolitan Region, Pune and Hyderabad. In FY 2015-16, Lodha Group delivered 6,800 units across projects.
Lodha Group has several landmark developments to its credit including World One, Mumbai, the world’s tallest residential tower, and has brought some of the top global names including
Armani/Casa, Trump, Philippe Starck, Jade Jagger, Greg Norman and Pei Cobb Freed to India. In 2013, the Group has extended its international footprint with the acquisition of the landmark MacDonald House at 1 Grosvenor Square in Prime Central London from the Canadian Government for a consideration of over GBP 300 million (Rs 3,100 Cr).
With offices in London, Dubai and Shanghai and planned openings in the USA and Singapore,
Lodha Group is on the road to substantial international presence.The group is committed to investing two per cent of its profits towards corporate social responsibility, focused primarily on education as a transformative tool.
Lodha Developers is one of the largest corporate entities in Mumbai and one of the largest employers in the MMR.