Lodha developers’ IPO continues to be on track

Realty developer Lodha Group’s proposed Initial Public Offering (IPO) continues to be on track and the company will be taking a call on the timing of the issue after a month, said a top company official. “The proposed IPO is very much on the anvil. The company will decide on the timing of the issue after the inauspicious 'Shraadh' period ends,” said Abhishek Lodha, Managing Director, Lodha Developers in an email response. On Wednesday, a media report suggested that the company has put its IPO plan on hold. Lodha had filed its draft red herring prospectus for the issue in April and the company received the Securities & Exchange Board of India’s (SEBI) approval for the issue in July.