Lodha Developers revives IPO plan

Lodha Developers, India’s largest real estate developer by sales and construction area, is reviving its IPO plans, with the company now planning to tap the capital markets to raise Rs. 4,500-5,000 crorethis financial year. The firm filed an updated draft red herring prospectus (UDRHP) with the market regulator in December 2018. This is the third attempt by Lodha Developers at IPO, with the developer filing a DRHP in September 2009 to raise about Rs. 2,800 crore. Later in January 2010, the developer received SEBI approval, but the plan was shelved citing “bad economy and market conditions” following the global financial crisis. Later, the company made an attempt in April 2018 also.