Sri Lotus Developers IPO opens tomorrow: GMP, issue details, 10 key things to know

Mint

5 days ago

Sri Lotus Developers IPO opens for subscription on tomorrow (Wednesday, July 30). Sri Lotus Developers, based in Mumbai, specializes in real estate, particularly focusing on the redevelopment of high-end residential and commercial properties within the luxury and ultra-luxury segments of Mumbai's western suburbs.
As of June 30, 2025, the company has successfully completed a total developed area of 0.93 million square feet across both residential and commercial projects.
According to the red herring prospectus (RHP), Arkade Developers Ltd has a P/E ratio of 22.03, Keystone Realtors Ltd has a P/E of 48.18, Suraj Estate Developers Ltd has a P/E of 14.91, Sunteck Realty Ltd's P/E stands at 43.26, Mahindra Lifespaces Ltd has a P/E of 91.43, and Hubtown Ltd has a P/E of 68.20.
In the 2025 financial year, Sri Lotus Developers achieved a revenue of ₹ 549.68 crore, up from ₹ 461.58 crore the previous year. The net profit surged to ₹ 227.89 crore, an increase from ₹ 119.81 crore in the prior year. As of FY25, the company reported total debt of ₹ 122.13 crore.
Sri Lotus Developers and Realty features an impressive group of pre-IPO investors, including cinema icons like Shah Rukh Khan, Amitabh Bachchan, and notable investor Ashish Kacholia.
The company's initial public offering (IPO) is planned with a price range of ₹ 140-150 per share, aligning with the price from its private placement in November 2024 when it raised ₹ 400 crore. During that funding round, shares were issued at ₹ 150 each to 118 investors, consistent with the upper end of the IPO price band.
Sri Lotus Developers IPO date: Sri Lotus IPO opens for subscription on Wednesday, July 30, and closes on Friday, August 1.
Sri Lotus Developers IPO price band: Sri Lotus IPO price band has been fixed in the range of ₹ 140 to ₹ 150 per equity share of face value of Re 1.
Sri Lotus Developers IPO lot size: Sri Lotus lot size is 100 equity shares and in multiples of 100 equity shares thereafter.
Anchor investors:The allocation to anchor investors for Sri Lotus Developers IPO is scheduled to take place today (Tuesday, July 29).
Sri Lotus Developers IPO details: Sri Lotus Developers IPO comprises solely of fresh issue, aiming to raise ₹ 792 crore.
Sri Lotus Developers IPO objective: Of the total funds acquired, ₹ 550 crore will be allocated to its subsidiaries—Richfeel Real Estate Private Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited—to partially cover the development and construction costs of ongoing projects: Amalfi, The Arcadian, and Varun, respectively.
Sri Lotus Developers IPO listing date and allotment details: Tentatively, the allotment basis for shares of Sri Lotus Developers IPO is set to be determined on Monday, August 4. The company plans to process refunds on Tuesday, August 5, and on the same day, shares will be credited to the demat accounts of allottees after the refunds are completed. It is anticipated that Sri Lotus Developers' share price will debut on BSE and NSE on Wednesday, August 6.
Lead Manager and Registrar of Sri Lotus Developers IPO: The primary managers for this offering are Monarch Networth Capital and Motilal Oswal Investment Advisors. Kfin Technologies Limited is the registrar for the issue.
Sri Lotus Developers IPO reservation: Sri Lotus Developers IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Sri Lotus Developers IPO GMP today: Sri Lotus Developers IPO GMP today or grey market premium is +40. This indicates Sri Lotus Developers share price were trading at a premium of ₹ 40 in the grey market on Tuesday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sri Lotus Developers share price was indicated at ₹ 190 apiece, which is 26.67% higher than the IPO price of ₹ 150.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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