Lodha Group Plans IPO to Fund Projects

Hyderabad, India (PressExposure) April 21, 2008 -- Real estate developer Lodha Group on Tuesday said it plans to raise Rs 8,000 crore from the primary market to fund its various projects and expand its operations. "We are planning to raise Rs 8,000 crore through initial public offer in the third quarter of this fiscal and enter new markets Pune and Hyderabad," Lodha Group Senior Vice-President R Karthik told reporters.

Lodha Group is developing 27 projects in Mumbai and Thane. Its profile consists of 60 per cent residential projects, 30 per cent commercial and 10 per cent retail. At Lodha, we understand the demands of ultra-modern living and are committed to focus our endeavours towards creating landmarks of exemplary design, luxury and quality that benchmark the highest standards of international living," he said.

Last year, Deutsche Bank invested USD 425 million in Lodha Group. JP Morgan has also invested in one of Lodha's luxury apartments. The group is promoted by Mangal Prabhat Lodha, who is also the Chairman and Managing Director of the group.

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Press Release Submitted On: April 09, 2008 at 6:33 am
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