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Macrotech Developers Ltd said it will raise Rs 125 crore through the issue of non-convertible debentures (NCDs). Macrotech Developers, which sells properties under Lodha brand, is one of the leading real estate developers in the country.
According to a regulatory filing on Thursday, 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.
In a separate filing, the company said it has acquired 50 per cent of the paid-up equity capital and other securities/instruments of Siddhivinayak Realties Pvt Ltd under a share purchase agreement (SPA).The acquisition is through a wholly owned subsidiary of the company.
