Sri Lotus Developers IPO To Open On July 30 — Latest GMP Signals Nearly 27% Listing Gain

Sri Lotus Developers and Realty Ltd. is scheduled to launch its initial public offering (IPO) on July 30. The company aims to raise over Rs 790 crore from the primary market.

It is one of the major real estate developers in Mumbai. Ahead of its opening, the grey market premium (GMP) indicated a listing gain of almost 27% for the IPO shares.

Investors who want to bid for shares in the IPO can check the following details before making an investment call.

According to InvestorGain, the GMP for the Sri Lotus Developers IPO stood at Rs 40 as of 1 p.m. on July 29. The latest GMP indicates an estimated listing price of Rs 190 per share at a premium of 26.67% over the upper limit of the IPO price band.

Note: GMP does not represent official data and is based on speculation.

The Sri Lotus Developers IPO is a book-building issue worth Rs 792 crore. It comprises entirely a fresh issue of 5.28 crore shares.

To participate in the IPO, retail investors need to bid for at least a single lot size of 100 shares, requiring a minimum investment of Rs 14,000. Small Non-Institutional Investors need to bid for 14 lots, amounting to an investment of Rs 2,10,000. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 67 lots. It will lead to an investment of Rs 10,05,000.

The price band for the IPO has been set between Rs 140 and Rs 150 per share.

Investors can participate in the IPO from July 30 to Aug. 1. The allotment of shares is proposed to be finalised on Aug. 4. The company will transfer shares to the Demat accounts of successful bidders on Aug. 5 and refunds for non-allottees will also be processed on the same day.

Shares of Sri Lotus Developers are proposed to be listed on the BSE and NSE on Aug. 6.

Qualified Institutional Buyers (QIBs) will be offered a maximum of 50% of the net issue. Retail investors will be allocated at least 35% of the net issue and a minimum of 15% will be reserved for Non-Institutional Investors.

Motilal Oswal Investment Advisors Ltd. is the book-running lead manager of the Sri Lotus Developers IPO. Kfin Technologies Ltd. is the registrar for the issue.

The company has proposed to use proceeds from the IPO to invest in its subsidiaries and for general corporate purposes.

About Sri Lotus Developers

The company develops luxury and ultra-luxury residential and commercial properties in Mumbai. It has developed over 3.99 million square feet of property so far.

The company reported a 90.2% year-on-year (YoY) increase in profit after tax (PAT) at Rs 227.89 crore in FY25 from Rs 119.81 crore in FY24. Revenue from operations rose 19% YoY to Rs 549.68 crore in FY25 from Rs 461.58 crore in FY24. Total borrowings dropped 71.5% YoY to Rs 122.13 crore in FY25 from Rs 428.24 crore in FY24.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.