Lodha Developers is quite popular for its prominent luxury offerings such as the Trump Towers in Mumbai and Grosvenor Square in London that is reportedly planning a different attempt to launch an initial public offering (IPO). The decision has been taken in the backdrop of a recent spurt in residential sales as well as improved investor sentiment and demand.

In April 2018, the privately-held Lodha Group, that was established in 1995 by Mangal Prabhat Lodha, had requested SEBI to increase about Rs 5,500 crore through IPO and is expecting to receive the market's regulator's clearance to launch the public issue however, this did not go ahead with the plans then. The company made its first attempt to list its shares on the stock exchanges in 2009 and had filed its draft red herring prospectus (DRHP) to raise about Rs 2,800 crore. It had received SEBI's nod in January 2010 but later shelved the plan due to unfavorable market conditions post the global financial crisis.

Also, this would be the third attempt by the Mumbai-based real estate developer to list its shares at the bourses. The firm made failed attempts to launch an IPO in 2009 and 2018 but dropped plans citing challenging times for the realty sector.

According to Moneycontrol report, Lodha Developers' IPO plans are now back on track and they have roped in investment banks Axis Capital and JP Morgan as advisors. The company has initiated preliminary work and plans to file the DRHP with capital market regulator SEBI by March 2021. More bankers may be added at a later stage.

Lately, a realty firm Puranik Builders had filed a fresh papers with SEBI to raise an estimated Rs 1,000 crore through its initial share-sale. The IPO comprises a fresh issue of shares that is worth Rs.810 crore, besides, an offer for sale up to 18,59,620 equity shares by the company's promoters and existing shareholders. Edelweiss Financial Services Ltd and Axis Capital will manage the company's IPO. Shares of the company will be listed on the BSE and NSE.