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Sri Lotus Developers IPO fully booked on Day 1, QIBs lead demand; GMP 29%
The issue received bids for 89.03 million equity shares compared to the issue size of 39.65 million shares. The demand was primarily driven by qualified institutional buyers (QIBs) who subscribed to the allotted quota by 3.54 times, followed by non-institutional investors (NIIs) at 1.68 times, and retail investors at 1.8 times. The portion reserved for employees was booked around 2 times.
Sri Lotus Developers IPO GMP
On Wednesday, the unlisted shares of Sri Lotus Developers were trading at ₹144, commanding a premium of ₹44 or 29.34 per cent compared to the upper end of the price band of ₹140 to ₹150.
Sri Lotus Developers IPO Review
Analysts at Anand Rathi Research assigned a 'Subscribe for long term' rating to the Sri Lotus Developers IPO, citing the attractive pricing and the company's strong strategic position in the real estate market of Mumbai's Western Suburbs. Reliance Securities and Deven Choksey Research also recommend 'subscribe' rating to the issue. READ MORE
Sri Lotus Developers IPO details
The three-day subscription window for the initial public offering will close on Friday, August 1, 2025. The basis of allotment of shares is likely to be finalised on Monday, August 4, 2025. Shares of Sri Lotus Developers will be listed on the bourses, BSE and NSE, tentatively on Wednesday, August 6, 2025.
Sri Lotus Developers IPO, worth ₹792 crore, comprises a fresh issue of 52.8 million equity shares and no offer for sale (OFS) component.
Sri Lotus Developers has set the price band in the range of ₹140 to ₹150 per share. Retail investors would require a minimum investment amount of ₹15,000 to bid for one lot comprising 100 shares each.
Kfin Technologies is the registrar for the issue. Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers.
According to the red herring prospectus (RHP), the company proposes to utilise the net fresh issue proceeds for investment in subsidiaries Richfeel Real Estate, Dhyan Projects and Tryksha Real Estate for part-funding development and construction costs of their ongoing projects, Amalfi, The Arcadian and Varun, respectively. The remaining funds will be used for general corporate purposes.
About Sri Lotus Developers & Realty
Mumbai-based Sri Lotus Developers is involved in the development of residential and commercial premises, with a focus on redevelopment projects in the ultra-luxury segment and luxury segments in the western suburbs. It is led by promoter Anand Kamalnayan Pandit. The company classifies its projects into three main categories, including Greenfield Projects, Redevelopment Projects and Joint Development Projects. It specialises in high-end developments, including 2BHK and 3BHK flats priced between ₹3 crore and ₹7 crore, as well as larger units and premium office spaces.
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