Sri Lotus Developers and Realty IPO subscribed 10.34 times
The initial public offer of Sri Lotus Developers and Realty received bids for 40,99,20,100 shares as against 3,96,58,730 shares on offer, according to stock exchange data at 17:00 IST on Thursday (31 July 2025). The issue was subscribed 10.34 times.
The issue opened for bidding on 30 July 2025 and it will close on 1 August 2025. The price band of the IPO is fixed between Rs 140 and 150 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof.
The offer comprises a fresh issue of equity shares worth up to Rs 792 crore. Of the net proceeds, the company intends to invest Rs 550 crore in its subsidiariesRichfeel Real Estate, Dhyan Projects, and Tryksha Real Estateto partially fund the development and construction of its ongoing projects: Amalfi, The Arcadian, and Varun. The remaining amount will be used for general corporate purposes.
Sri Lotus Developers & Realty, promoted by Anand Kamalnayan Pandit, is a Mumbai-based real estate developer focused on ultra-luxury and luxury residential and commercial projects in the western suburbs of the Mumbai Metropolitan Region (MMR). Operating under the Lotus Developers brand, the company has completed four projects with a developable area of 0.93 million sq ft and currently has five ongoing and eleven upcoming projects.
With over 24 years of experience, the promoter has developed 3.32 million sq ft across 12 projects through other entities. The company primarily undertakes redevelopment, joint development, and greenfield projects and heavily relies on third-party contractors for construction.
Ahead of the IPO, Sri Lotus Developers and Realty on Tuesday, 29 July 2025, raised Rs 236.99 crore from anchor investors. The board allotted 1.57 crore shares at Rs 150 each to 16 anchor investors.
The firm reported a consolidated net profit of Rs 227.41 crore and sales of Rs 549.68 crore for the twelve months ended on 31 March 2025.
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