April 26, 2018 / 12:43 PM / in a year

India's Lodha Developers files for IPO

(Reuters) - Real estate firm Lodha Developers Ltd on Thursday filed for an initial public offering (IPO), expected to be one of the biggest stock market debuts in India this year.

The company will sell new shares worth 37.50 billion rupees ($561.8 million) in the IPO, while its shareholders will sell up to 18 million shares, a regulatory filing showed.

Kotak Mahindra Capital, CLSA India, JM Financial and Morgan Stanley India are the global co-ordinators for the IPO.

Indian firms have raised about $2.8 billion from IPOs so far this year, following a record of more than $11 billion in 2017.

Kolkata-based Bandhan Bank, which debuted in the market late March, was the biggest IPO in India this year, raising as much as $691 mln.

($1 = 66.7500 Indian rupees)

Reporting by Jessica Kuruthukulangara in Bengaluru; Editing by Amrutha Gayathri

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