Sri Lotus Developers and Realty IPO to open on July 30. Check GMP, price band, and other key details
In the grey market, the company's shares are trading at a premium of Rs 32 over the upper price band of Rs 150, indicating a potential listing gain of 21%, with an expected price of Rs 182.
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Sri Lotus Developers and Realty IPO
GMP Cools from Earlier Highs
However, the
grey market premium
(GMP) has cooled from Rs 51 earlier, as market participants had expected a higher issue price. Notably, the company had allotted shares at Rs 150 apiece during a private placement in 2024 to 118 individuals, including several Bollywood celebrities and high-profile investors.
According to the Red Herring Prospectus (RHP), the Shah Rukh Khan Family Trust invested Rs 10.1 crore for 6.75 lakh shares, while Amitabh Bachchan acquired 6.66 lakh shares for Rs 10 crore. Hrithik Roshan and his father Rakesh Roshan hold 70,000 shares each. Veteran investor Ashish Kacholia subscribed to 33.33 lakh shares, reportedly investing close to Rs 50 crore.
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In total, the company raised Rs 399.2 crore through this private placement round before filing its DRHP in December 2024. Other investors included Ektaa Kapoor, Tusshar Kapoor, Jeetendra, Jagdish Master, and DRChoksey Finserv.
Sri Lotus Developers and Realty IPO Fund Use
The upcoming IPO is a book-building issue through which the company plans to raise Rs 792 crore. The entire proceeds are expected to support future development and expansion.
Company Overview
Founded in February 2015, Sri Lotus Developers and Realty is a Mumbai-based
real estate
company focused on
redevelopment projects
in the ultra-luxury and luxury segments across the city's western suburbs. As of June 30, 2025, the firm has a developable area of 0.93 million sq. ft., spanning both residential and commercial properties.
The company is promoted by Anand Kamalnayan Pandit, a well-known film producer and distributor, which has helped attract interest from marquee investors and entertainment industry names.
(
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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