Lodhas to transfer stake worth Rs 20k cr in Macrotech to philanthropic firm

Quick Summary:

Real estate tycoon Abhishek Lodha and family on Monday pledged to transfer shares worth around Rs 20,000 crore in their listed entity Macrotech Developers to the group's philanthropic initiative, taking a leaf out of the Tatas.

As part of their initiative, Abhishek Lodha and family will transfer about 18-19 per cent stake in Macrotech Developers to Lodha Philanthropy Foundation (LPF), a non-profit organisation that uses all its income and assets solely for national and social causes.

Macrotech Developers Ltd (MDL) is one of the leading real estate developers in the country, selling properties under the Lodha brand.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: BusinessFinance

Markets: India

Topics: Macrotech Developers Abhishek Lodha Lodha group

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 20:13:19 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 521 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23289266

View Article Analysis

About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 309 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

Publisher Details

Frequently Asked Questions