Lodha Developers IPO Basis of Allotment

This is a public announcement for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe to securities. This public announcement is not intended for release, publication or distribution, directly or indirectly, outside India and is not a prospectus announcement. This public announcement is not an advertisement under the Real Estate (Regulation and Development Act), 2016 and is not intended for informing persons about our real estate projects or to invite any person to make advances or deposits in relation to any of our real estate projects.

Macrotech Developers Limited ("Company") was incorporated as 'Lodha Developers Private Limited' on September 25, 1995 in the state of Maharashtra at Mumbai as a private limited company under the Companies Act, 1956, as amended. Thereafter, our Company was converted into a public limited company, the word 'private' was struck off from the name of our Company and consequently, a fresh certificate of incorporation consequent upon change of name dated August 10, 2009 was issued by the Registrar of Companies, Maharashtra situated at Mumbai ("RoC") recording the change in the name of our Company to 'Lodha Developers Limited'. Thereafter, our Company was converted into a private limited company, the word 'private' was incorporated in the name of our le name of our Company and consequently, a fresh certificate of incorporation consequent upon change of name dated January 11, 2013 was issued by the RoC recording the change in the name of our Company to 'Lodha Developers Private Limited'. Subsequently, our Company our Company was converted into a public limited company, the word 'private' was struck off from the name of our Company and consequently, a fresh certificate of incorporation dated March 14, 2018 was issued by the RoC consequent upon conversion recording the change of the name of our Company to 'Lodha Developers Limited'. Subsequently, the name of our Company was changed to 'Macrotech Developers Limited' pursuant to a resolution passed by our Shareholders in an extraordinary general meeting held on May 14, 2019 and a fresh certificate of incorporation, dated May 24, 2019 was issued by the RoC. For details of change in the name and registered office of our Company, see "History and Certain Corporate Matters" beginning on page 171 of the Prospectus dated April 10, 2021 and filed with the RoC ("Prospectus").

Our Company has filed the Prospectus dated April 10, 2021 with the RoC, and the Equity Shares are proposed to be listed on the BSE Limited ("BSE") and National Stock Exchange of India Limited ("NSE") and trading will commence from April 19, 021.

INITIAL PUBLIC OFFER OF 51,440,328 EQUITY SHARES OF FACE VALUE OF Rs. 10 EACH ("EQUITY SHARES") OF MACROTECH DEVELOPERS LIMITED ("ISSUER") FOR CASH AT A PRICE OF Rs. 486 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF Rs. 476 PER EQUITY SHAREJAGGREGATING TO Rs. 25,000 MILLION (THE "ISSUE").

THE ISSUE INCLUDES A RESERVATION OF 617,283 EQUITY SHARES AGGREGATING TO Rs. 300 MILLION (CONSTITUTING 0.14% OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITAL), FOR SUBSCRIPTION BY ELIGIBLE EMPLOYEES (THE "EMPLOYEE RESERVATION PORTION"). THE ISSUE LESS THE EMPLOYEE RESERVATION PORTION IS HEREINAFTER REFERRED TO AS "NET ISSUE". THE ISSUE AND NET ISSUE SHALL CONSTITUTE 11.50% AND 11.36%, RESPECTIVELY, OF THE POST-ISSUE PAID-UP EQUITY SHARE CAPITALOF OUR COMPANY.

The Issue was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 31 of the SEBIICDR Regulations and in compliance with Regulation 6(1) of the SEBIICDR Regulations, wherein not more than 50% of the Net Issue was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs", the "QIB Portion"), our Company, in consultation with the Managers, allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion^"), of which one- third was reserved for domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allotment in the Anchor Investor Portion, the balance Equity Shares were added to the Net QIB Portion. Further, 5% of the Net QIB Portion was made available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion was made available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids having been received at or above the Issue Price. Further, not less than 15% of the Net Issue was made available for allocation on a proportionate basis to Non-lnstitutional Bidders and not less than 35% of the Net Issue was made available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Issue Price. All potential Bidders (except Anchor Investors) were required to mandatorily utilise the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bid Amounts were blocked by the SCSBs or under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts. Anchor Investors were not permitted to participate in the Issue through the ASBA process. For details, see "Issue Procedure" beginning on page 500 of the Prospectus.

The bidding for Anchor Investors opened and closed on April 6,2021. The Company received 21 Anchor Investor Bid cum Application Forms from 21 Anchor Investors (including 1 mutual fund through 1 Mutual Fund Scheme) for 15,493,140 Equity Shares. The Anchor Investor price was finalized at Rs. 486 per Equity Share. A total of 15,246,913 shares were allocated under the Anchor Investor Portion aggregating to Rs. 7,409,999,718.00.

The Issue (excluding Anchor Investors Portion) received 91,649 applications for 43,448,130 Equity Shares resulting in 1.2004 times subscription. The details of the applications received in the Issue from various categories are as under (before technical rejections):

Final Demand

A summary of the final demand as per BSE and NSE as on the Bid/lssue Closing Date at different Bid prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, being BSE on April 15,2021.

A. Allotment to Retail Individual Investors (After Technical Rejections)

The Basis of Allotment to the Retail Individual Investors, who have bid at cut-off or at the Issue Price of Rs. 486 per Equity, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.2378 times. The total number of Equity Shares Allotted in Retail Individual Bidders category is 4,273,860 Equity Shares (includes under subscribed portion of 187,563 Equity Shares spilled over from Employee Category) to 86,680 successful applicants. The under subscribed portion of 13,701,769 Equity Shares in the Retail Category has been spilled over to QIBs, and Non Institutional Investors in the ratio of 50:15 i.e. 10,539,822 Equity Shares for QIBs and 3,161,947 Equity Shares for Non Institutional Investors. The category-wise details of the Basis of Allotment are as under:

B. Allotment to Non Institutional Investors (After Technical Rejections)

The Basis of Allotment to the Non-Institutional Investors, who have bid at the Issue Price of Rs. 486 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.7116 times. The total number of Equity Shares allotted in this category is 7,732,590 Equity Shares (includes under subscribed portion of 80,384 Equity Shares spilled over from Employee Category and 3,161,947 Equity Shares spilled over from Retail Category) to 193 successful applicants. The under subscribed portion of 3,133,198 Equity Shares in the Non Institutional Investors Category has been spilled over to QIBs. The category-wise details of the Basis of Allotment are as under: (Sample)

C. Allotment to Eligible Employees (After Technical Rejections)

The Basis of Allotment to the Eligible Employees, who have bid at the Cut-Off price or at the Issue Price of Rs. 486 per Equity Share, was finalized in consultation with BSE. This category has been subscribed to the extent of 0.1319 times. The total number of Equity Shares allotted in this category is 81,390 Equity Shares (the under subscribed portion of 535,893 Equity Shares in the Employee Category has been spilled over to QIBs, Non Institutional Investors and Retail Individual Investors in the ratio of 50:15:35 i.e. 267,946 Equity Shares for QIBs, 80,384 Equity Shares for Non Institutional Investors and 187,563 Equity Shares for Retail Individual Investors) to 585 successful applicants. The category-wise details of the Basis of Allotment are as under:

D. Allotment to QIBs (excluding Anchor Investors) (After Technical Rejections)

Allotment to QIBs, who have bid at the Issue Price of Rs. 486 per Equity Share, has been done on a proportionate basis in consultation with BSE. This category has been subscribed to the extent of 1.2805 times of Net QIB portion. As per the SEBI Regulations, Mutual Funds were allotted 5% of the Equity Shares of Net QIB portion available i.e. 514,380 Equity Shares (includes under subscribed portion of 13,398 Equity Shares spilled over from Employee Category, 526,992 Equity Shares spilled over from Retail Category and 156,660 Equity Shares spilled over from Nil Category) and other QIBs and unsatisfied demand of Mutual Funds were allotted the remaining available Equity Shares i.e. 23,591,195 Equity Shares (includes under subscribed portion of 254,548 Equity Shares spilled over from Employee Category, 10,012,830 Equity Shares spilled over from Retail Category and 2,976,538 Equity Shares spilled over from Nil Category and 690,901 Equity Shares spilled over from Mutual Fund Category) on a proportionate basis. The total number of Equity Shares allotted in the QIB category is 24,105,575 Equity Shares (includes under subscribed portion of 267,946 Equity Shares spilled over from Employee Category, 10,539,822 Equity Shares spilled over from Retail Category and 3,133.198 Equity Shares spilled over from Nil Category), which were allotted to 32 successful Applicants.

E. Allotment to Anchor Investors

The Company in consultation with the GCBRLMs and BRLMs, have allocated 15,246,913 Equity Shares to 21 Anchor Investors at the Anchor Investor Offer Price of Rs. 486 per Equity Share in accordance with the SEBI Regulations. This represents 60% of the QIB Portion.

The IPO Committee of our Company on April 15, 2021 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum refund intimation are being emailed to the email id or dispatched to the address of the investors as registered with the depositories. The Allotment Advice-cum-lntimations and/ or notices will be dispatched to the address of the investors as registered with the depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Public Issue Account have been issued on April 15, 2021 and payment to non-Syndicate brokers have been issued on April 16, 2021. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on April 16, 2021 for credit into the respective beneficiary accounts subject to validation of the account details with the depositories concerned. The Company has received listing and trading approval from BSE and NSE and the tradi ng wi II commence on April 19, 2021.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus.

INVESTORS PLEASE NOTE

These details of the Allotment made have been hosted on the website of Registrar to the Issue, Link Intime India Private Limited at www.linkintime.co.in

All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the first/ sole Bidder, Bid, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder, number of Equity Shares applied for applied for, the name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder, and a copy of the Acknowledgment Slip received from the Designated Intermediary at the address given below:

For Issue related grievance investors may contact: Axis Capital Limited - Ms. Mayuri Arya (+91 22 4325 2183) (complaints@axiscap.in); J.P. Morgan India Private Limited - Mr. Saarthak K Soni (+91 22 6157 3000) (investorsmb.jpmipl@jpmorgan.com); Kotak Mahindra Capital Company Limited - Mr. Ganesh Rane (+91 22 4336 0000) (kmccredressal@kotak.com); ICICI Securities Limited - Mr. Vaibhav Saboo / Mr. Shekher Asnani (+91 22 2288 2460) (customercare@icicisecurities.com); Edelweiss Financial Services Limited - Ms. Nishita John (+91 22 4009 4400) (customerservice.mb@edelweissfin.com); NFL Securities Limited - Mr. Aditya Agarwal/ Mr. Keyur Ladhawala (+ 91 22 4646 4600) (ig.ib@iiflcap.com); JM Financial Limited - Ms. Prachee Dhuri (+ 91 22 6630 3030) (grievance.ibd@jmfl.com); YES Securities (India) Limited - Mr. Sachin Kapoor/ Mr. Lalit Phatak (+91 22 7100 9830) (igc@ysil.in); SBI Capital Markets Limited - Mr. Sambit Rath / Mr. Karan Savardekar (+91 22 2217 8300) (investor.relations@sbicaps.com) or BOB Capital Markets Limited - Ms. Nivedika Chavan (+91 22 6138 9300) (investorgrievance@bobcaps.in). For UPI related queries, investors can contact NPCI at the toll free number: 18001201740 and Mail Id: ipo.upi@npci.org.in.

THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF MACROTECH DEVELOPERS LIMITED.

MACROTECH DEVELOPERS LIMITED has filed the Prospectus with the RoC on April 10,2021 and thereafter with SEBI and the Stock Exchanges. The Prospectus is available on the website of the SEBI at www.sebi.gov.in, the websites of the GCBRLMs i.e. Axis Capital Limited, J.P. Morgan India Private Limited and Kotak Mahindra Capital Company Limited at www.axiscapital.co.in, www.jpmipl.com, www.investmentbank.kotak.com as well as on the websites of the book running lead managers, ICICI Securities Limited, Edelweiss Financial Services Limited, IIFL Securities Limited, JM Financial Limited, YES Securities (India) Limited, SBI Capital Markets Limited and BOB Capital Markets Limited at www.icicisecurities.com, www.edelweissfin.com,www.iiflcap.com, www.jmfl.com,www.yesinvest.in, www.sbicaps.com and www.bobcaps.in, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risks, see "Risk Factors" on page 26 of the Prospectus.

The Equity Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and, unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in compliance with the applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (a) in the United States only to persons reasonably believed to be "qualified institutional buyers" (as defined in Rule 144A under the U.S. Securities Act) pursuant to Section 4(a) of the U.S. Securities Act and (b) outside the United States in offshore transactions as defined in and in compliance with Regulation S and the applicable laws of the jurisdiction where those offers and sales are made. There will be no public offering in the United States.