Lodha Developers Boosts Growth with Rs 350 Crore Debenture Issue

Real estate giant Lodha Developers Ltd has successfully raised Rs 350 crore through the issuance of non-convertible debentures (NCDs), targeting business expansion. The funds were secured via a private placement, as detailed in a regulatory filing on Monday.

The company's board of directors had previously sanctioned the issuance earlier this month, allowing the company to continue its ambitious growth trajectory. In addition to this recent issuance, an earlier approval for Rs 300 crore in NCDs underscores the firm's robust financial strategy.

Lodha Developers, formerly known as Macrotech Developers Ltd, stands as a significant player in India's real estate sector, with strong market positions in the Mumbai Metropolitan Region, Pune, and Bengaluru. The company is known for its comprehensive real estate portfolio, including housing projects, office spaces, malls, and industrial facilities.

(With inputs from agencies.)