Upcoming IPO: Sri Lotus Developers IPO opens on July 30; price band set at ₹140-150 apiece

Mint

3 days ago

Sri Lotus Developers IPO price band has been fixed in the range of ₹ 140 to ₹ 150 per equity share of the face value of Re 1. The Sri Lotus Developers IPO date of subscription is scheduled for Wednesday, July 30 and will close on Friday, August 1. The allocation to anchor investors for the Sri Lotus Developers IPO is scheduled to take place on Tuesday, July 29. The Sri Lotus Developers IPO lot size is 100 equity shares and in multiples of 100 equity shares thereafter.
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.
Tentatively, Sri Lotus Developers IPO basis of allotment of shares will be finalised on Monday, August 4 and the company will initiate refunds on Tuesday, August 5 while the shares will be credited to the demat account of allottees on the same day following refund. Sri Lotus Developers share price is likely to be listed on BSE and NSE on Wednesday, August 6.
Sri Lotus Developers IPO consists entirely of a new issue, with the goal of raising ₹ 792 crore. Out of the total amount raised, ₹ 550 crore will be directed toward its subsidiaries—Richfeel Real Estate Private Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited—to partly finance the development and construction expenses of ongoing projects: Amalfi, The Arcadian, and Varun, respectively.
The lead managers for the issue are Monarch Networth Capital and Motilal Oswal Investment Advisors.
Sri Lotus Developers, located in Mumbai, is a real estate company that focuses on both residential and commercial property development, particularly in the realm of redevelopment projects targeting the ultra-luxury and luxury markets within Mumbai's western suburbs.
As of June 30, 2025, the firm has successfully developed a cumulative area of 0.93 million square feet encompassing both residential and commercial initiatives.
As per red herring prospectus (RHP), Arkade Developers Ltd (with a P/E of 22.03), Keystone Realtors Ltd (with a P/E of 48.18), Suraj Estate Developers Ltd (with a P/E of 14.91), Sunteck Realty Ltd (with a P/E 43.26), Mahindra Lifespaces Ltd (with a P/E of 91.43), and Hubtown Ltd (with a P/E of 68.20).
In the financial year 2025, Sri Lotus Developers recorded a revenue of ₹ 549.68 crore, an increase from ₹ 461.58 crore in the prior year. The net profit skyrocketed to ₹ 227.89 crore, up from ₹ 119.81 crore the previous year. As of FY25, the company's total debt was reported at ₹ 122.13 crore.
Sri Lotus Developers and Realty boasts a remarkable lineup of pre-IPO investors, featuring Bollywood legends such as Shah Rukh Khan, Amitabh Bachchan, and prominent investor Ashish Kacholia.
The company's IPO is set with a price range of ₹ 140-150 per share, matching the price from its private placement round in November 2024 when it secured ₹ 400 crore. During that round, shares were allocated at ₹ 150 each to 118 investors, which is the same as the upper limit of the IPO price range.