How To Check Sri Lotus Developers IPO Allotment Status And What Does GMP Signal Ahead Of Listing On Aug. 6?

Sri Lotus Developers is scheduled to finalise the IPO allotment status on Monday, Aug. 4. The initial public offering of Mumbai-based real estate firm Sri Lotus Developers and Realty Ltd. closed with a strong demand, as the mainboard IPO was subscribed 69.14 times on the last day of subscription.

The public offer received applications for more than 274.18 crore shares against 3.7 crore shares available for bidding.

The Qualified Institutional Buyers (QIBs) led the demand by subscribing their quota 163.90 times. The retail portion of the IPO was booked 20.28 times, while the Non-Institutional Investors (NIIs) subscribed the issue 57.71 times.

Investors who applied for the Sri Lotus Developers IPO can check their allotment status on the official websites of the NSE, BSE and the issue registrar, Kfin Technologies Ltd.

• Go to the NSE IPO allotment page here.

• Select the option that says ‘Equity & SME IPO bid details’.

• Pick ‘LOTUSDEV' from the issue symbol dropdown.

• Enter both your PAN and Application Number.

• Click on ‘Submit’ to see your allotment status.

• Visit the IPO Status page on the KFintech website here.

• From the IPO dropdown menu, choose 'Sri Lotus Developers'.

• Select the input option as PAN, Application number, or Demat Account.

• Enter your PAN, Application number, or Demat Account details based on the option selected above.

• Enter the captcha details to proceed.

• Open the BSE IPO allotment page here.

• Select ‘Equity’ as the issue type.

• Choose ‘Sri Lotus Developers’ from the dropdown menu.

• Enter either your Application Number or PAN.

• Fill in the captcha code exactly as shown.

• Click on ‘Search’ to view your allotment status.

The grey market premium (GMP) for Sri Lotus Developers IPO stood at Rs 37 per share as of 7:30 a.m. on Aug. 4. The latest GMP indicates an estimated listing price of Rs 187 apiece. Shares of the company are expected to be listed at a premium of 24.67% over the upper limit of the IPO price band.

Despite the stellar interest in the IPO, the GMP saw a decline since it opened for subscription on July 30. The highest GMP recorded for the Sri Lotus Developers IPO was Rs 44. This indicated that the unlisted shares of the company were trading at Rs 194 apiece on the grey market.

Note: GMP is not an official source of data and is based on speculation.

Also Read: How To Check NSDL IPO Allotment Status And What Does GMP Signal Ahead Of Listing On Aug. 6?

Following the finalisation of the share allotment, the company is scheduled to process refunds and transfer of shares to the Demat accounts on Tuesday, Aug. 5.

Shares of Sri Lotus Developers and Realty Ltd. are tentatively scheduled to be listed on the NSE and BSE on Wednesday, Aug. 6.

Sri Lotus Developers IPO was a book-building issue worth Rs 792 crore, comprising entirely a fresh issue of 5.28 crore shares. The IPO opened for bidding on July 30 and closed on Aug. 1.

The price band for this IPO was set at Rs 140 to Rs 150 per share.

Sri Lotus Developers plans to utilise the IPO proceeds primarily for investment in its subsidiaries and general corporate purposes.