Sri Lotus Developers IPO sees 5% subscription on Day 1 so far. Should You Apply? Check GMP, Review & Key Details
Sri Lotus Developers IPO Subscription Status
Explore courses from Top Institutes in
Please select course:
Select a Course Category
Public Policy
Project Management
Cybersecurity
Data Analytics
Design Thinking
Management
Degree
healthcare
Operations Management
others
Data Science
Healthcare
Product Management
Artificial Intelligence
Data Science
PGDM
Others
Digital Marketing
CXO
MBA
Technology
Leadership
Skills you'll gain:
Economics for Public Policy Making
Quantitative Techniques
Public & Project Finance
Law, Health & Urban Development Policy
Duration:
12 Months
IIM Kozhikode
Professional Certificate Programme in Public Policy Management
Starts on
Mar 3, 2024
Get Details
Retail investors subscribed to 7% of the 1.97 crore shares allocated to them, while NIIs—such as high-net-worth individuals—subscribed to 9% of the 84.64 lakh shares reserved for their category. Meanwhile, Qualified Institutional Buyers (QIBs) have not placed any bids yet for their allotted 1.12 crore shares. However, it's worth noting that QIB interest often gathers momentum closer to the final days of the IPO, so a lack of early bids from this segment is fairly typical.
Sri Lotus Developers IPO GMP today
According to market observers, the IPO is commanding a
grey market premium
(GMP) of Rs 44 per share. This suggests a potential listing gain of nearly 29% over the IPO's upper price band of Rs 150. While GMPs are unofficial and speculative, they can reflect investor sentiment and expected demand.
Sri Lotus Developers and Realty launched its Rs 792 crore IPO today, eyeing investor interest in the luxury real estate segment of Mumbai. The issue, which is entirely a fresh offer of 5.28 crore shares, will close on August 1. The price band has been set at Rs 140-150 per share, with a lot size of 100 shares.
Proceeds from the IPO will be used to partly fund ongoing projects through its subsidiaries—including Amalfi, The Arcadian, and Varun—and for general corporate purposes.
Sri Lotus Developers company details
Sri Lotus Developers operates predominantly in Mumbai's western suburbs, focusing on ultra-luxury and luxury housing through redevelopment and joint development models.
The company had a net profit of Rs 228 crore in FY25, more than doubling from Rs 119 crore a year ago, on revenue of Rs 550 crore. Its EBITDA margin rose sharply to 52.6%, indicating strong profitability.
Backed by a solid pipeline of 16 projects across Juhu, Andheri, Bandra, Prabhadevi, and Ghatkopar, Sri Lotus is betting big on the rising demand for homes in the Rs 2.5 crore-plus segment.
The company follows an asset-light approach, largely avoiding land acquisition and instead partnering with housing societies—a model that has allowed faster execution and leaner capital deployment.
Should You Subscribe?
Anand Rathi has issued a "Subscribe - Long Term" call, citing a strong execution track record, brand premium, and presence in high-demand micro-markets of Mumbai. It notes that while the valuation appears fully priced at 30.6 times FY25 earnings, the fundamentals support long-term wealth creation.
Arihant Capital recommends the IPO for listing gains. The brokerage highlights the company's ability to complete projects well before RERA timelines and its premium pricing power, especially in areas like Juhu.
Also read:
Mother of all IPOs coming next year? Ambani eyes Jio Infocomm's Rs 52,000 cr issue: Report
The IPO is being managed by Motilal Oswal and
Monarch Networth
, with shares set to be listed on both NSE and BSE.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
18 minutes ago
- Time of India
Hyd to soon get its first ropeway between Golconda Fort and Seven Tombs
1 2 Hyderabad: Soon, Hyderabad will get its first ropeway service connecting two historic landmarks — the Golconda Fort to the Qutub Shahi Tombs. The two-km-long ropeway will be used to ferry visitors between the heritage sites. Proposed cost per trip: Rs 100 to Rs 200 (average). Currently, the monuments have a daily footfall of 5,000 to 8,000 with weekends drawing over 10,000 people. Sharing details about the project, officials from the Hyderabad Unified Metropolitan Transport Authority (HUMTA) said that it will be built on the lines of the existing aerial transport systems in tourists destinations like Shimla, Dharamshala, and Manali that are operated by the Ropeway & Rapid Transport System Development Corporation (RTDC). You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad "Much like the Himachal Pradesh model, the city ropeway too will feature modern cable cars equipped to accommodate six passengers at a time, offering panoramic views of the historic structures and its surrounding landscape," said B Jeevan Babu, managing director, of HUMTA that has already called for tenders to draft a detailed project report, conduct a feasibility study and chalk out the budget for this bu-directional ropeway. The deadline for tenders is Aug 8. Apart from offering a unique experience, officials said that the project will also reduce travel time between the two monuments to 5 to 10 minutes, compared to the current 15 to 20 minutes by road during peak hours. The system will include two terminals, one near the Golconda Fort entrance and another at the Qutub Shahi Tombs complex. "We came up with this solution after facing challenges with road expansion due to constricted street layouts. The project will help reduce vehicular traffic and parking issues in the area, contributing to better preservation of these heritage sites," said Jeevan Babu. He added: "The construction will require huge towers between the two heritage sites. The development will follow a PPP model." While it is proposed to start with two cable car, the numbers may increase based on tourist response and commercial viability. "The primary objective is to provide efficient transport access for international and domestic visitors. As soon as the agency submits their feasibility report, we will commence the ropeway works," the MD told TOI. Previously, in 2024, the Centre announced plans for a ropeway tourism initiative at Telangana's Bhuvanagiri Fort. This is being implemented as part of the Swadesh Darshan 2.0 programme with an allocated budget of over Rs 50 crore. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Time of India
18 minutes ago
- Time of India
PM to open Metro line to IT corridor on Aug 10
Bengaluru: Missing the original deadline by two-and-a-half years, Bengaluru Metro Yellow Line — from RV Road in Jayanagar to tech hub on Hosur Road, offering a congestion-free commute for lakhs of tech workers — will be inaugurated by PM Modi on Aug 10. Tired of too many ads? go ad free now Commercial operations are likely from Aug 11. Union minister of housing and urban affairs Manohar Lal Khattar announced the launch date on X. On the same day, Modi will lay the foundation for Phase III of Namma Metro project, which proposes 45km lines at a cost of Rs 15,611 crore, the post added. Though infrastructure was ready for over two years for the 19km yellow line built by BMRCL at a cost of Rs 7,000 crore, the inauguration of this stretch, having missed revised deadlines multiple times, was further delayed due to shortage of coaches. BMRCL recently set Aug 15 as the revised target to open the line with just three trainsets. After receiving safety clearance from the Commissioner of Metro Railway Safety to open the new line connecting Electronics City, BMRCL approached the state govt. In 2023, ahead of the Karnataka assembly elections, Modi inaugurated the extended Purple Line from KR Pura to Whitefield. Later, three Namma Metro projects — two Purple Line stretches, the Green Line extension towards Tumakuru, and the Ragigudda–Silk Board double-decker flyover—were opened without fanfare. Although the Centre sanctioned Orange Line in 2024, the state govt's plan for a double-decker flyover delayed tendering. BMRCL is expected to float tenders by year-end. The agency is finalising the design plan, while environmental and social impact consultations are in progress, with reports likely to be published between Oct and Nov.
Time of India
18 minutes ago
- Time of India
‘Punjab has sent no proposal for solar parks under central scheme in last 5 yrs'
Bathinda: Even as 18 solar parks were developed in several states under the central scheme of 'development of solar parks and ultra-mega solar power projects', the Punjab govt did not send any proposal for the development of a solar park under the scheme in the last five years. Tired of too many ads? go ad free now This was revealed by Union minister of state for new and renewable energy and power, Shripad Yesso Naik, in a written reply in Lok Sabha on Wednesday in response to a question by Bathinda MP Harsimrat Kaur Badal. The development of solar parks and ultra-mega solar power projects aims to accelerate large-scale solar power generation by facilitating the development of solar parks and ultra-mega solar power projects. These parks provide a platform for developers to set up solar projects with shared infrastructure, including land, transmission lines, and other necessary facilities, reducing costs and speeding up project completion. The country in the past increased maximum renewable energy under solar energy to achieve its target of 450 GW renewable energy by 2030 as per its nationally determined contributions (NDC) under the Paris Agreement. After the scheme was launched in Dec 2014 to accelerate large-scale solar power generation and support the country's renewable energy goals, 50 solar parks with a total capacity of 37,990 MW were sanctioned across 12 states, while 18 with 10,856 MW were developed. As per the minister, 18 projects were developed in nine states with a capacity of 10,856 MW, with a maximum of four projects each in MP and Rajasthan. Under the project, central financial assistance (CFA) of Rs 3,661.93 crore was released to various states in the last five years under the 'development of solar parks and ultra-mega solar power projects', with a maximum of Rs 1,116.4 crore to Gujarat, even as only one solar park with 700 MW was developed there. Tired of too many ads? go ad free now Harsimrat Kaur asked for details of the number of solar parks set up under the 'development of solar parks and ultra mega power projects' in the country, including Punjab; the details of funds allocated and utilised by the different states under the said scheme since its inception; whether the Union govt received any application/financial assistance proposal for the development of a solar park from the state govt of Punjab under this scheme during the last five years; and the reasons behind the delay in the implementation of the said proposal, if any, in Punjab. MSID:: 122994674 413 |
