Macrotech Developers rises on getting nod to raise up to Rs 250 crore through NCDs
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Macrotech Developers is currently trading at Rs. 1056.10, up by 13.20 points or 1.27% from its previous closing of Rs. 1042.90 on the BSE.
The scrip opened at Rs. 1060.40 and has touched a high and low of Rs. 1064.90 and Rs. 1049.30 respectively. So far 429 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1538.65 on 01-Dec-2021 and a 52 week low of Rs. 814.85 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 1112.00 and Rs. 1013.00 respectively. The current market cap of the company is Rs. 50618.21 crore.
The promoters holding in the company stood at 82.20%, while Institutions and Non-Institutions held 16.40% and 1.40% respectively.
Macrotech Developers has received approval to raise up to Rs 250 crore through the issuance of listed, rated, secured, redeemable, transferable, non-convertible debentures (NCDs). The company did not disclose the utilisation of the proceeds of the proposed Non-Convertible Debentures issue. The Board of Directors at its meeting held on August 29, 2022, has approved the same.
Macrotech Developers is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also develop commercial real estate.
