Lodha Developers Raises Rs 300 Cr Through Debentures

New Delhi, Jul 9 (PTI) Realty firm Lodha Developers has raised Rs 300 crore by issuing debentures on a private placement basis for business growth.

In a regulatory filing on Tuesday, the company informed that the executive committee of the Board of Directors has approved the allotment of non-convertible
debentures, aggregating to Rs 300 crore on a private placement basis.

The debentures, with an interest coupon rate of 7.96 per cent, will be redeemed at par at the end of the 3 years from the date of allotment.

These debentures will be listed on the Wholesale Debt Market segment of BSE.

Lodha Developers, erstwhile Macrotech Developers Ltd, is one of the leading real estate firms in the country. It has a significant presence in the Mumbai Metropolitan Region (MMR), Pune and Bengaluru markets.

The company develops housing, commercial and warehousing projects.