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Economic Times
42 minutes ago
- Economic Times
Sri Lotus Developers shares to debut today. GMP signals mild listing gains
Sri Lotus Developers is set to list on the BSE and NSE on August 6, with a strong GMP indicating a listing price around Rs 177. The IPO, oversubscribed 74.10 times, saw significant interest from QIBs, NIIs, and retail investors. Proceeds will fund ongoing projects, and the company reported robust FY25 revenue and profit growth. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Shares of Sri Lotus Developers are set to debut on the BSE and NSE on August 6 after a robust IPO subscription. Ahead of the listing, the GMP on the shares of the company in the unlisted market is around 18%. This places the expected listing price at around Rs 177 per share against the issue price of Rs 150, reflecting healthy demand among Rs 792 crore IPO, entirely a fresh issue of 5.28 crore shares, was open for bidding from July 30 to August 1. The issue drew overwhelming interest from all categories of investors, closing with an overall subscription of 74.10 Qualified Institutional Buyers (QIB) segment led the charge with a subscription of 175.61 times, followed by Non-Institutional Investors (61.82 times) and retail investors (21.77 times).Sri Lotus Developers, a Mumbai-based real estate company focused on ultra-luxury and luxury residential and commercial redevelopment projects in the city's affluent western suburbs, has positioned itself as a niche player in a competitive of June 2025, it holds a developable area of 0.93 million square feet and boasts a project pipeline that includes four completed projects, five ongoing, and eleven upcoming IPO proceeds are earmarked primarily for investments in its subsidiaries to fund three ongoing marquee projects — Amalfi, The Arcadian, and Varun — with Rs 550 crore allocated towards development costs. The remaining funds will be used for general corporate purposes. The company follows an asset-light model, partnering with landowners through development agreements, allowing it to maintain healthy cash terms of financial performance, the company has shown healthy growth. Revenue for FY25 stood at Rs 569.28 crore, up 22% from the previous year, while profit after tax more than doubled to Rs 227.89 the IPO oversubscription and strong grey market signals, all eyes are now on the stock's performance on August 6. While the premium suggests listing gains, long-term investors will be watching how the company delivers on its pipeline and manages execution in Mumbai's competitive luxury housing market.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
News18
an hour ago
- News18
RBI MPC Meeting August 2025 Live Updates: Will Sanjay Malhotra Announce Another Repo Rate Cut Or Status Quo?
RBI Monetary Policy Committee Meeting, Repo Rate Cut Live Updates: RBI Governor Sanjay Malhotra is set to announce the Monetary Policy Committee's decision on interest rates in the country, at 10 am today. Though most economists expect the central bank to keep the repo rate unchanged, several say that the RBI MPC might announce a final 25-basis-point rate cut before an extended status quo. The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC), led by Governor Sanjay Malhotra, began its three-day deliberation on Monday, August 4. It concludes today, August 6. The six-member MPC includes Governor Sanjay Malhotra, Deputy Governor Poonam Gupta, Executive Director Rajiv Ranjan, and three external members: Nagesh Kumar, Saugata Bhattacharya, and Ram Singh. In the previous policy review in June 2025, the RBI MPC had announced a surprise 50 basis points repo rate cut, bringing the key policy rate down to 5.5%, and a 100-bps CRR reduction as the RBI signalled confidence in the easing of price pressures amid a supportive global and domestic backdrop. The RBI has cut the repo rate by 100 bps in three consecutive rate cuts. India's retail inflation, based on the Consumer Price Index (CPI), declined to 2.1 per cent in June 2025, the latest available data. It is the lowest inflation print after January 2019. The CPI-based inflation had stood at 2.82 per cent in May 2025 and 5.08 per cent in June 2024. The RBI is mandated to keep inflation at 4%, with a tolerance band of (-/+) 2%. In June 2025 policy, the RBI revised its retail inflation projection for FY26 to 3.7%, down from its earlier estimate of 4%. This marks the lowest average retail inflation forecast by the central bank in recent years.
Time of India
an hour ago
- Time of India
Sri Lotus Developers shares to debut today. GMP signals mild listing gains
Shares of Sri Lotus Developers are set to debut on the BSE and NSE on August 6 after a robust IPO subscription. Ahead of the listing, the GMP on the shares of the company in the unlisted market is around 18%. This places the expected listing price at around Rs 177 per share against the issue price of Rs 150, reflecting healthy demand among investors. The Rs 792 crore IPO, entirely a fresh issue of 5.28 crore shares, was open for bidding from July 30 to August 1. The issue drew overwhelming interest from all categories of investors, closing with an overall subscription of 74.10 times. The Qualified Institutional Buyers (QIB) segment led the charge with a subscription of 175.61 times, followed by Non-Institutional Investors (61.82 times) and retail investors (21.77 times). Sri Lotus Developers, a Mumbai-based real estate company focused on ultra-luxury and luxury residential and commercial redevelopment projects in the city's affluent western suburbs, has positioned itself as a niche player in a competitive landscape. As of June 2025, it holds a developable area of 0.93 million square feet and boasts a project pipeline that includes four completed projects, five ongoing, and eleven upcoming developments. The IPO proceeds are earmarked primarily for investments in its subsidiaries to fund three ongoing marquee projects — Amalfi, The Arcadian, and Varun — with Rs 550 crore allocated towards development costs. The remaining funds will be used for general corporate purposes. The company follows an asset-light model, partnering with landowners through development agreements, allowing it to maintain healthy cash flows. In terms of financial performance, the company has shown healthy growth. Revenue for FY25 stood at Rs 569.28 crore, up 22% from the previous year, while profit after tax more than doubled to Rs 227.89 crore. With the IPO oversubscription and strong grey market signals, all eyes are now on the stock's performance on August 6. While the premium suggests listing gains, long-term investors will be watching how the company delivers on its pipeline and manages execution in Mumbai's competitive luxury housing market.
