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Business Standard
9 hours ago
- Business
- Business Standard
Sri Lotus Developers and Realty IPO subscribed 10.34 times
The offer received bids for 40.99 crore shares as against 3.96 crore shares on offer. The initial public offer of Sri Lotus Developers and Realty received bids for 40,99,20,100 shares as against 3,96,58,730 shares on offer, according to stock exchange data at 17:00 IST on Thursday (31 July 2025). The issue was subscribed 10.34 times. The issue opened for bidding on 30 July 2025 and it will close on 1 August 2025. The price band of the IPO is fixed between Rs 140 and 150 per share. An investor can bid for a minimum of 100 equity shares and in multiples thereof. The offer comprises a fresh issue of equity shares worth up to Rs 792 crore. Of the net proceeds, the company intends to invest Rs 550 crore in its subsidiariesRichfeel Real Estate, Dhyan Projects, and Tryksha Real Estateto partially fund the development and construction of its ongoing projects: Amalfi, The Arcadian, and Varun. The remaining amount will be used for general corporate purposes. Sri Lotus Developers & Realty, promoted by Anand Kamalnayan Pandit, is a Mumbai-based real estate developer focused on ultra-luxury and luxury residential and commercial projects in the western suburbs of the Mumbai Metropolitan Region (MMR). Operating under the Lotus Developers brand, the company has completed four projects with a developable area of 0.93 million sq ft and currently has five ongoing and eleven upcoming projects. With over 24 years of experience, the promoter has developed 3.32 million sq ft across 12 projects through other entities. The company primarily undertakes redevelopment, joint development, and greenfield projects and heavily relies on third-party contractors for construction. Ahead of the IPO, Sri Lotus Developers and Realty on Tuesday, 29 July 2025, raised Rs 236.99 crore from anchor investors. The board allotted 1.57 crore shares at Rs 150 each to 16 anchor investors. The firm reported a consolidated net profit of Rs 227.41 crore and sales of Rs 549.68 crore for the twelve months ended on 31 March 2025.
News18
10 hours ago
- Business
- News18
Sri Lotus Developers IPO booked 10.34 times on day 2 of offer
New Delhi, Jul 31 (PTI) The initial share sale of Sri Lotus Developers and Realty Ltd, a real estate company backed by Bollywood stars and renowned investor Ashish Kacholia, got subscribed 10.34 times on Thursday, the second day of bidding. The initial public offer (IPO) received bids for 40,99,20,100 shares against 3,96,58,730 shares on offer, according to data available with the NSE. The category for non-institutional investors got subscribed 15.95 times while the portion for Retail Individual Investors (RIIs) garnered 8.89 times subscription. The quota for Qualified Institutional Buyers (QIBs) got subscribed 8.69 times. Sri Lotus Developers on Tuesday raised Rs 237 crore from institutional investors. The initial public offering (IPO) will conclude on Friday. The company has fixed a price band of Rs 140-150 per share for the IPO. The IPO is entirely a fresh issue of shares worth Rs 792 crore with no Offer For Sale (OFS) component. Proceeds from the fresh issue will be used for investment in its subsidiaries, Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd and Tryksha Real Estate Pvt Ltd for part-funding the development and construction cost of its ongoing projects, Amalfi, The Arcadian and Varun, respectively; besides, a portion will be used for general corporate purposes. The Anand Kamalnayan Pandit-promoted company is a real estate developer engaged in the construction of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra luxury and luxury segments in the western suburbs. Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers of the public issue. PTI SUM SUM SHW (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
15 hours ago
- Business
- Time of India
Sri Lotus Developers IPO: GMP at 27%. Check reviews, subscription status, other key details
The retail investors' portion was subscribed 2.84 times. Sri Lotus Developers IPO details The proceeds will be used to: Live Events Fund ongoing projects through subsidiaries such as Amalfi, The Arcadian, and Varun Meet general corporate expenses About Sri Lotus Developers Should you subscribe to Sri Lotus Developers IPO? Sri Lotus Developers IPO listing lead managers (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The initial public offering (IPO) of Sri Lotus Developers, which opened for subscription on Wednesday, was trading at a healthy grey market premium (GMP) of 27.33%, translating into a potential listing gain of Rs the end of the first day, the issue saw an overall subscription of 3.60 times with qualified institutional buyers (QIBs) in the lead. The QIBs subscribed to the issue by 5.31 times. This was followed by the non-institutional investors (NIIs), who subscribed to the issue by 3.10 Lotus Developers aims to raise Rs 792 crore through this IPO, which is entirely a fresh issue of 5.28 crore equity shares. The price band is fixed at Rs 140–Rs 150 per share, and the lot size is set at 100 primarily in Mumbai's western suburbs, Sri Lotus Developers specializes in ultra-luxury and luxury housing, leveraging redevelopment and joint development company reported a net profit of Rs 228 crore in FY25, more than doubling from Rs 119 crore in the previous fiscal, on revenue of Rs 550 crore. Its EBITDA margin rose to 52.6%, highlighting robust a pipeline of 16 projects across premium locations such as Juhu, Andheri, Bandra, Prabhadevi, and Ghatkopar, the company is well-positioned to capture the growing demand for homes in the Rs 2.5 crore-plus follows an asset-light strategy, partnering with housing societies instead of acquiring land, enabling faster execution and lower capital Rathi has issued a 'Subscribe – Long Term' recommendation. It cites Sri Lotus's strong execution history, premium branding, and strategic location presence. While it notes that the valuation is full at 30.6x FY25 earnings, it believes the fundamentals support long-term wealth Capital, on the other hand, recommends subscribing for listing gains, citing early project completion, strong pricing power, and credibility in markets like Oswal and Monarch Networth are managing the IPO, and the shares will be listed on both NSE and BSE post completion of the issue.
Time of India
19 hours ago
- Business
- Time of India
Sri Lotus Developers IPO subscribed 3.59 times on day 1
NEW DELHI: Sri Lotus Developers and Realty Ltd, a real estate company backed by Bollywood stars and renowned investor Ashish Kacholia , saw its initial public offer getting subscribed 3.59 times on the first day of bidding on Wednesday. The IPO received bids for 14.23 crore (14,23,86,800) equity shares against 3.96 crore (3,96,58,730) equity shares on offer, according to data available with the NSE. Qualified Institutional Buyers' (QIBs) category attracted 5.31 times subscription while the quota for non institutional investors got subscribed 3.10 times. Retail Individual Investors (RIIs) part fetched 2.82 times subscription. Sri Lotus Developers on Tuesday raised Rs 237 crore from institutional investors. The initial public offering (IPO) will conclude on August 1. The company has fixed a price band of Rs 140-150 per share for the IPO. The IPO is entirely a fresh issue of shares worth Rs 792 crore with no Offer For Sale (OFS) component. Proceeds from the fresh issue will be used for investment in its subsidiaries, Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd and Tryksha Real Estate Pvt Ltd for part-funding the development and construction cost of its ongoing projects, Amalfi, The Arcadian and Varun, respectively; besides, a portion will be used for general corporate purposes. The Anand Kamalnayan Pandit-promoted company is a real estate developer engaged in the construction of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra luxury and luxury segments in the western suburbs. Monarch Networth Capital and Motilal Oswal Investment Advisors are the book running lead managers of the public issue.
Daily Mail
a day ago
- Entertainment
- Daily Mail
Newly-married Jack P. Shepherd and wife Hanni Treweek share update on loved-up Italian honeymoon after he poked fun at trip
Newly-married Jack P Shepherd and his wife Hanni Treweek gave a glimpse into their romantic honeymoon at the Amalfi Coast, Italy on Instagram on Wednesday. The actor, 37, and his partner Hanni, 35, tied the knot at Manchester Cathedral on Saturday, just over one year after he popped the question while on safari in Africa. Now, the couple shared an insight into their getaway as they enjoyed 'the famous Amalfi lemon sorbet' and a walk along the picturesque coastline. In a short video, the soap star captured the scenery with Italian music in the background before Hanni said: 'Let's go up higher baby'. It comes after Jack upload a clip of Hanni looking out to sea on Monday, he said: 'Little choppy today. A few broken plates. She added: 'A little bit too much chop!' Referencing the Goonies, Jack then joked: 'One-Eyed Willy's cave - where all the gold's kept. That's my room up there. Where I'm staying.' Jack, who has played the iconic David Platt on Coronation Street since 2000, shared a passionate kiss with Hanni as white confetti fell on them after their wedding ceremony at the weekend. The soapstar cut a dapper figure in a white suit as he arrived in a red mustang with his mother and his son Reuben, who he shares with his ex Lauren Shippey. Hanni arrived shortly after, and looked gorgeous in an elegant white gown, with lace detail and a long trail. Fellow Corrie star Lucy Fallon was amongst the guests as well as Tina O'Brien, who plays his sister Sarah, and his on-screen wife Julia Goulding. Other Corrie stars in attendance included Samia Longchambon, Colson Smith, Ben Price, Alan Halsall and Jayne Danson. Jack previously revealed he took part in the show in order to pay for the wedding. A source told The Sun the pair are going all out to make sure it is their 'dream day'. 'Jack and Hanni are having their big white wedding at Manchester Cathedral on Saturday,' a source said. They added: 'They have gone all out to make sure it's their dream day and there has been no expensed spared.' 'It's a very grand setting getting wed at the cathedral, and it will be packed with guests, including many of Jack's Corrie co-stars.' Jack and Hanni have been dating since 2017, after meeting on the soap when she worked in the press office. She later became a storyliner on the ITV show, before quitting to work as a fashion influencer. Despite being colleagues, their romance actually began when Jack impressed Hanni at a mutual friend's wedding. Speaking to OK! Magazine in 2020, Jack recalled: 'Then our mutual friends got married and we were both guests at the wedding. 'We got chatting, I made Hanni laugh, we had a couple of drinks and we flirted. That was it.' The duo then later bumped into each other once again in a Sainsbury's, which led to an exchange of texts and a blossoming romance. He told The Daily Star: 'I texted her afterwards and said 'that was awkward' and she told me she thought she looked a mess and then we started texting from there. 'I actually thought she looked fit – I just saw the girl I fancy wearing Lycra! We quickly went on our first date and we just clicked.'
