India: Lodha Developers may trim IPO size to $600m on weak investor response

Realty firm Lodha Developers Ltd is likely to reduce the size of its initial public offering (IPO) following lukewarm interest from investors, said three people aware of the development. In April, Lodha Developers had filed the draft IPO prospectus with Securities and Exchange Board of India (Sebi). According to the document, the company had planned to raise Rs3,750 crore in primary capital to lower its debt.