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Time of India
2 hours ago
- Business
- Time of India
Sri Lotus Developers IPO subscribed 3.59 times on day 1
NEW DELHI: Sri Lotus Developers and Realty Ltd, a real estate company backed by Bollywood stars and renowned investor Ashish Kacholia , saw its initial public offer getting subscribed 3.59 times on the first day of bidding on Wednesday. The IPO received bids for 14.23 crore (14,23,86,800) equity shares against 3.96 crore (3,96,58,730) equity shares on offer, according to data available with the NSE. Qualified Institutional Buyers' (QIBs) category attracted 5.31 times subscription while the quota for non institutional investors got subscribed 3.10 times. Retail Individual Investors (RIIs) part fetched 2.82 times subscription. Sri Lotus Developers on Tuesday raised Rs 237 crore from institutional investors. The initial public offering (IPO) will conclude on August 1. The company has fixed a price band of Rs 140-150 per share for the IPO. The IPO is entirely a fresh issue of shares worth Rs 792 crore with no Offer For Sale (OFS) component. Proceeds from the fresh issue will be used for investment in its subsidiaries, Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd and Tryksha Real Estate Pvt Ltd for part-funding the development and construction cost of its ongoing projects, Amalfi, The Arcadian and Varun, respectively; besides, a portion will be used for general corporate purposes. The Anand Kamalnayan Pandit-promoted company is a real estate developer engaged in the construction of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra luxury and luxury segments in the western suburbs. Monarch Networth Capital and Motilal Oswal Investment Advisors are the book running lead managers of the public issue.
News18
16 hours ago
- Business
- News18
Sri Lotus Developers IPO sails through on Day 1; subscribed 3.59 times
New Delhi, Jul 30 (PTI) Sri Lotus Developers and Realty Ltd, a real estate company backed by Bollywood stars and renowned investor Ashish Kacholia, saw its initial public offer getting subscribed 3.59 times on the first day of bidding on Wednesday. The IPO received bids for 14.23 crore (14,23,86,800) equity shares against 3.96 crore (3,96,58,730) equity shares on offer, according to data available with the NSE. Qualified Institutional Buyers' (QIBs) category attracted 5.31 times subscription while the quota for non institutional investors got subscribed 3.10 times. Retail Individual Investors (RIIs) part fetched 2.82 times subscription. Sri Lotus Developers on Tuesday raised Rs 237 crore from institutional investors. The initial public offering (IPO) will conclude on August 1. The company has fixed a price band of Rs 140-150 per share for the IPO. The IPO is entirely a fresh issue of shares worth Rs 792 crore with no Offer For Sale (OFS) component. Proceeds from the fresh issue will be used for investment in its subsidiaries, Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd and Tryksha Real Estate Pvt Ltd for part-funding the development and construction cost of its ongoing projects, Amalfi, The Arcadian and Varun, respectively; besides, a portion will be used for general corporate purposes. The Anand Kamalnayan Pandit-promoted company is a real estate developer engaged in the construction of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra luxury and luxury segments in the western suburbs. Monarch Networth Capital and Motilal Oswal Investment Advisors are the book running lead managers of the public issue. PTI SUM SUM MR (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Standard
16 hours ago
- Business
- Business Standard
Sri Lotus Developers and Realty IPO subscribed 3.59 times
The offer received bids for 12.43 crore shares as against 3.96 crore shares on offer. The initial public offer of Sri Lotus Developers and Realty received bids for 14,23,86,800 shares as against 3,96,58,730 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (30 July 2025). The issue was subscribed 3.59 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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Business Standard
20 hours ago
- Business
- Business Standard
Sri Lotus Developers IPO fully booked on Day 1, QIBs lead demand; GMP 29%
Sri Lotus Developers IPO subscription status Day 1: The initial public offering (IPO) of Mumbai-based real estate developer Sri Lotus Developers and Realty opened for subscription today, July 30, 2025. The mainboard public issue is receiving a strong response from investors, as the issue was fully subscribed within a few hours after opening. The issue was subscribed around 2.24 times as of 2 PM on Wednesday, day 1 of the offering, according to data from the National Stock Exchange. 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.
News18
2 days ago
- Business
- News18
Sri Lotus Developers collects Rs 237 cr from anchor investors
New Delhi, Jul 29 (PTI) Sri Lotus Developers, a real estate company backed by Bollywood stars and renowned investor Ashish Kacholia, on Tuesday raised Rs 237 crore from institutional investors ahead of its IPO opening for subscription. Those who have been allotted shares in the anchor round include Tata Mutual Fund (MF), Mahindra Manulife MF, Nippon India MF, Nuvama Asset Management, HSBC MF, SBI MF, Citigroup Global Markets Mauritius, Nomura Singapore Ltd and Future Generali India Life Insurance Co. Ltd, according to a circular uploaded on BSE's website. As per the circular, the real estate player has allotted 1.58 equity shares to 16 funds at Rs 150 apiece, aggregating the fund raising to Rs 237 crore. The initial public offering (IPO) will open for subscription on July 30 and conclude on August 1. The company has set a price band of Rs 140-150 per share. The IPO is entirely a fresh issue of shares worth Rs 792 crore with no Offer For Sale (OFS) component. Proceeds from the fresh issue will be used for investment in its subsidiaries, Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd and Tryksha Real Estate Pvt Ltd for part-funding the development and construction cost of its ongoing projects, Amalfi, The Arcadian and Varun, respectively; besides, a portion will be used for general corporate purposes. The Anand Kamalnayan Pandit-promoted company is a real estate developer engaged in the construction of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra luxury and luxury segments in the western suburbs. As of June 30, 2025, the company has completed projects, 5 ongoing projects and 11 upcoming projects. Sri Lotus Developers and Realty's revenue from operations rose by 19 per cent to Rs 549.68 crore in fiscal 2025 from Rs 461.57 crore in the preceding fiscal, and profit after tax surged by 90 per cent to Rs 228 crore from Rs 120 crore during the period. In December, Sri Lotus Developers raised over Rs 407 crore by allotting 2.66 crore shares on a private placement basis. Among the investors, Bollywood icon Amitabh Bachchan purchased around 6.7 lakh shares for Rs 10 crore, while the Shah Rukh Khan Family Trust acquired about 6.75 lakh shares for Rs 10.1 crore. Ashish Kacholia picked up 33.33 lakh shares for Rs 50 crore. Other notable investors include Hrithik Roshan, Rakesh Roshan, Tiger Jackie Shroff, Ektaa Kapoor, Tusshar Kapoor and Jeetendra alias Ravi Amarnath Kapoor. Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers of the public issue. PTI SP SHW PTI) view comments First Published: July 29, 2025, 19:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
