Lodha Developers to file for $1 billion IPO this month

Lodha Developers plans to file the draft prospectus for a $700m-$1bn IPO later this month and is targeting a launch in the second quarter, people with knowledge of the transaction have said. Citic CLSA, JM Financial, Kotak and Morgan Stanley are the bookrunners. The Indian property company planned an IPO of Rs. 28 bn (US$437m) in 2010, but did not launch because of weak market conditions. According to the company's website, it is currently developing an estimated 43m sq ft of real estate and has 28 ongoing projects across London, Mumbai, Pune, Hyderabad and Bangalore. (Reuters)