Sri Lotus Developers IPO: GMP at 27%. Check reviews, subscription status, other key details
Synopsis Sri Lotus Developers' IPO is performing well. The IPO opened with a good grey market premium. It was subscribed 3.60 times on the first day. Qualified institutional buyers led the subscriptions. The company aims to raise Rs 792 crore. The funds will support ongoing projects. Analysts recommend subscribing to the IPO for long-term gains and listing benefits. The initial public offering (IPO) of Sri Lotus Developers, which opened for subscription on Wednesday, was trading at a healthy grey market premium (GMP) of 27.33%, translating into a potential listing gain of Rs 41-44.
ADVERTISEMENT At the end of the first day, the issue saw an overall subscription of 3.60 times with qualified institutional buyers (QIBs) in the lead. The QIBs subscribed to the issue by 5.31 times. This was followed by the non-institutional investors (NIIs), who subscribed to the issue by 3.10 times.
Sri Lotus Developers aims to raise Rs 792 crore through this IPO, which is entirely a fresh issue of 5.28 crore equity shares. The price band is fixed at Rs 140–Rs 150 per share, and the lot size is set at 100 shares.
Fund ongoing projects through subsidiaries such as Amalfi, The Arcadian, and Varun
Meet general corporate expenses
Operating primarily in Mumbai's western suburbs, Sri Lotus Developers specializes in ultra-luxury and luxury housing, leveraging redevelopment and joint development models.
ADVERTISEMENT The company reported a net profit of Rs 228 crore in FY25, more than doubling from Rs 119 crore in the previous fiscal, on revenue of Rs 550 crore. Its EBITDA margin rose to 52.6%, highlighting robust profitability.
ADVERTISEMENT With a pipeline of 16 projects across premium locations such as Juhu, Andheri, Bandra, Prabhadevi, and Ghatkopar, the company is well-positioned to capture the growing demand for homes in the Rs 2.5 crore-plus segment.It follows an asset-light strategy, partnering with housing societies instead of acquiring land, enabling faster execution and lower capital requirements.
ADVERTISEMENT Anand Rathi has issued a 'Subscribe – Long Term' recommendation. It cites Sri Lotus's strong execution history, premium branding, and strategic location presence. While it notes that the valuation is full at 30.6x FY25 earnings, it believes the fundamentals support long-term wealth creation.Arihant Capital, on the other hand, recommends subscribing for listing gains, citing early project completion, strong pricing power, and credibility in markets like Juhu.
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Motilal Oswal and Monarch Networth are managing the IPO, and the shares will be listed on both NSE and BSE post completion of the issue.
Also read: Trump's 25% Tariff shock shakes D-Street today; pharma among top 5 vulnerable sectors(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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