InvestorQ : How was the Macrotech IPO listing on Monday 19 April?
Niti Shenoi made post

How was the Macrotech IPO listing on Monday 19 April?

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ishika Banerjee answered.
3 weeks ago
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Formerly called Lodha Developers, Macrotech Developers listed its stock on the NSE and BSE on 19 April. This company belonging to the MP Lodha group listed at a discount of 10% to its IPO issue price of Rs.486 per share. The stock opened on the NSE at Rs.436 and the BSE at Rs.439. You may remember that Macrotech got tepid response from retail investors.

The resurgence of COVID cases in India only worsened the listing. However, the good news was that post listing the stock showed some bounce towards the close of trade. While Macrotech touched an intraday low of Rs.422 on the NSE, it closed at Rs.458, still a discount to the issue price. One concern for markets has been Macrotech’s Rs.16,700 crore debt.

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