Macrotech Developers IPO: The shares are likely to be listed on BSE and NSE on April 22, 2021Macrotech Developers (formerly Lodha Developers)’ Rs 2,500 crore initial public offering (IPO) is likely to open on April 7. The IPO will remain open between April 7 and April 9, and the shares will be issued in the price band of Rs 483-486 per share. The shares are likely to be listed on the BSE and NSE on April 22, 2021.Investors can bid for a minimum one lot of 30 shares, translating into the minimum application size of Rs 14,580 per lot at the higher end of the price band. The maximum application size per individual is 13 lots.The company plans to use the IPO proceeds to pare its debt obligations and buy land for future growth.The Macrotech IPO will be the largest property public issue after DLF, which went public in the year 2007. Its listed peers include DLF, Godrej Properties, Oberoi Realty, Sobha and Sunteck Realty.Macrotech was founded by billionaire Mangal Prabhat Lodha in Mumbai. The company is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics, industrial parks and commercial real estate. It is also known for luxury projects such as Trump Towers in Mumbai and Grosvenor Square in London.ICICI Securities, Edelweiss Financial Services, IIFL Securities, JM Financial, YES Securities, SBI Capital Markets and BOB Capital Markets are the book running lead managers to the public issue, whereas Link Intime India is the registrar to the IPO.