Mumbai-based real estate major Macrotech Developers Ltd, that sells properties under the Lodha brand, will raise Rs 125 crore through the issue of non-convertible debentures (NCDs).
The executive committee of the Board of Directors of Macrotech Developers has approved the allotment of 12,500 non-convertible debentures of Rs 1 lakh each aggregating to Rs 125 crore, the company said in a regulatory filing.
“Pursuant to Regulations 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we wish to inform you that the Executive Committee of the Board of Directors of the Company has approved the allotment of 12,500 rated, listed, senior, secured, redeemable, taxable, transferable non-convertible debentures of Rs 1,00,000 each aggregating to Rs125 Crore. (“Secured NCDs”),” the company said in a regulatory filing.
The company said in a separate filing that it has acquired 50% of the paid-up equity capital and other securities/instruments of Siddhivinayak Realties Pvt Ltd under a share purchase agreement (SPA).
“We hereby inform of the acquisition of 50% of the paid-up equity capital and; other securities / instruments of Siddhivinayak Realties Private Limited under a Share Purchase Agreement (“SPA”),” it said.
Recently, Macrotech Developers raised Rs 3,300 crore by selling shares to institutional investors.
