Latest news with #SriLotusDevelopersIPO
Mint
3 days ago
- Business
- Mint
Sri Lotus Developers IPO opens soon: GMP, price band, dates, other details you may like to know
Sri Lotus Developers IPO: Real estate development firm, Sri Lotus Developers Limited's initial public offering (IPO) is set to open this week on Wednesday, 30 July 2025, as the company aims to raise ₹ 792 crore from the Indian stock markets. The Mumbai-based real estate firm focuses on both residential and commercial properties, particularly in the ultra-luxury and luxury segments within the city's western suburbs. According to Mint's earlier report, the realty firm had successfully developed a cumulative area of 0.93 million square feet, comprising both residential and commercial properties, as of 30 June 2025. Bollywood icons such as Shah Rukh Khan, Amitabh Bachchan, and prominent investor Ashish Kacholia are backing the company as investors. As of Sunday, 27 July 2025, the grey market premium (GMP) of Sri Lotus Developers IPO stood at ₹ 32 per share. With the upper price band for the public issue at ₹ 150, the stocks are expected to be listed at ₹ 182, including a premium of 21.33%, according to Investorgain data. Grey market premium (GMP) is an investor's willingness to pay more for a public issue. The GMP has remained flat at its current levels for the last two days, dropping to ₹ 32 on Friday, 25 July 2025, compared to ₹ 34 on Thursday last week. Sri Lotus Developers IPO is offering an entire book-built issue of fresh equity shares with a face value of ₹ 1 apiece, amounting to a total of ₹ 792 crore, according to the data collected from the official draft papers. There is no offer for sale (OFS) component in this public issue. According to Mint's earlier report, the company aims to use ₹ 550 crore to fund investments into its subsidiaries, namely Richfeel Real Estate Private Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited. This will partly finance the development and construction expenses of ongoing projects: Amalfi, The Arcadian, and Varun, respectively. Sri Lotus Developers IPO is set to open on Wednesday, 30 July 2025 and is scheduled to close on Friday, 1 August 2025. The company has fixed the price band for the IPO in the range of ₹ 140 to ₹ 150 per equity share of the face value of Re 1. The IPO is offering investors a lot size of 100 equity shares per lot. Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers of the public issue, while Kfin Technologies Ltd is the advisor to the offer. Read all stories by Anubhav Mukherjee Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
6 days ago
- Business
- Mint
Upcoming IPO: Sri Lotus Developers IPO opens on July 30; price band set at ₹140-150 apiece
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.
