Latest news with #SriLotusDevelopers
Mint
7 hours ago
- Business
- Mint
Sri Lotus Developers IPO sees strong demand on Day 1, subscribed 4 times on robust retail, QIB interest
The initial public offering (IPO) of Sri Lotus Developers has seen robust demand from both retail and qualified institutional buyers on its first day of bidding. The IPO, which opened today and is set to close on Friday, August 01, was oversubscribed. The issue received bids for 14.27 crore shares against the total offer of 3.70 crore shares, resulting in an overall subscription of 3.86 times by the end of Day 1, according to exchange data. Qualified institutional buyers showed strong interest, with their portion subscribed to 5.68 times, while retail investors also showed greater enthusiasm, with their portion booked 3.05 times. The NII portion was booked at 3.32 times. Sri Lotus Developers aims to raise ₹ 792 crore through the IPO, which is entirely a fresh issue of 5.28 crore shares. The price band for the offer is set between ₹ 140 and ₹ 150 per equity share, with a face value of ₹ 1 each. The IPO lot size is fixed at 100 shares, requiring a minimum investment of ₹ 15,000 for retail investors. The allotment for the IPO is expected to be finalized on Monday, August 04, 2024. The shares are scheduled to list on both the NSE and BSE, with a tentative listing date of Wednesday, August 06. Motilal Oswal Investment Advisors Limited is the book-running lead manager of the Sri Lotus Developers IPO, while Kfin Technologies Limited is the registrar for the issue. The company features an impressive list of pre-IPO investors, including cinema icons Shah Rukh Khan and Amitabh Bachchan and notable investor Ashish Kacholia. The issue comprises a fresh issue only, aiming to raise ₹ 792 crore. As of today, the grey market premium (GMP) for Sri Lotus Developers IPO stands at ₹ 46 per share. This suggests that the shares are anticipated to list at ₹ 150 above their issue price. With this GMP and the IPO's upper price band, the estimated listing price of the shares would be ₹ 196, reflecting a 30.66% premium over the issue price. The grey market premium represents the expected difference between an IPO's issue price and its anticipated listing price in the unofficial market. However, it's important to remember that GMP is a preliminary indicator and should not be the sole factor in making investment decisions. The company is a developer of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra-luxury segment and luxury segment in the western suburbs. Since its establishment, it has aimed at building a brand centered around customer satisfaction by creating environments that enhance our customers' lifestyles. The company operations are strategically located in Mumbai, one of the biggest real estate markets in India. The company acquired land for its operations in the western suburbs of Mumbai in 2017, focusing on the ultra-luxury and luxury residential properties market. On the financial front, the company reported a revenue of ₹ 549.68 crore, up from ₹ 461.58 crore in the previous year. Net profit surged to ₹ 227.89 crore, compared to ₹ 119.81 crore a year earlier. As of FY25, total debt stood at ₹ 122.13 crore. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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Business Standard
12 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.
Time of India
16 hours ago
- Business
- Time of India
Sri Lotus Developers IPO sees 5% subscription on Day 1 so far. Should You Apply? Check GMP, Review & Key Details
The initial public offering (IPO) of Sri Lotus Developers opened for subscription on Wednesday, July 30. As of 10:12 AM, overall subscription stood at 5%, with interest largely driven by retail and non-institutional investors. The IPO will remain open until August 1. In the grey market, shares are quoting at a premium, indicating a potential listing gain of around 29% over the upper price band of Rs 150 per share. 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)
Economic Times
16 hours ago
- Business
- Economic Times
Sri Lotus Developers IPO sees 5% subscription on Day 1 so far. Should You Apply? Check GMP, Review & Key Details
ADVERTISEMENT Sri Lotus Developers IPO Subscription Status Sri Lotus Developers IPO GMP today ADVERTISEMENT Sri Lotus Developers company details ADVERTISEMENT ADVERTISEMENT Should You Subscribe? ADVERTISEMENT The initial public offering (IPO) of Sri Lotus Developers opened for subscription on Wednesday, July 30. As of 10:12 AM, overall subscription stood at 5%, with interest largely driven by retail and non-institutional investors. The IPO will remain open until August 1. In the grey market, shares are quoting at a premium, indicating a potential listing gain of around 29% over the upper price band of Rs 150 per 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 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 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 from the IPO will be used to partly fund ongoing projects through its subsidiaries—including Amalfi, The Arcadian, and Varun—and for general corporate Lotus Developers operates predominantly in Mumbai's western suburbs, focusing on ultra-luxury and luxury housing through redevelopment and joint development 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 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 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 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 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 IPO is being managed by Motilal Oswal and Monarch Networth , with shares set to be listed on both NSE and BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Economic Times
18 hours ago
- Business
- Economic Times
Sri Lotus Developers IPO opens for subscription; GMP at 29%. Should you bid?
Sri Lotus Developers and Realty is set to launch its Rs 792 crore IPO today. The IPO aims to tap into investor interest in Mumbai's luxury real estate market. The company plans to use the funds to support ongoing projects and for general corporate needs. Analysts suggest potential investors to consider subscribing for long-term gains and listing benefits. Tired of too many ads? Remove Ads Sri Lotus Developers IPO GMP Sri Lotus Developers company details Tired of too many ads? Remove Ads Should You Subscribe? Sri Lotus Developers and Realty will launch 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 from the IPO will be used to partly fund ongoing projects through its subsidiaries—including Amalfi, The Arcadian, and Varun—and for general corporate of the issue opening, the company is commanding a GMP of Rs 44, which is 29% over the issue company operates predominantly in Mumbai's western suburbs, focusing on ultra-luxury and luxury housing through redevelopment and joint development 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 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 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 Rathi has issued a "Subscribe - Long Term" call, citing 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 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 IPO is being managed by Motilal Oswal and Monarch Networth , with shares set to be listed on both NSE and BSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
