Sri Lotus Developers IPO Launches: Aims to Raise ₹792 Crore for Luxury Real Estate Projects
Sri Lotus Developers launches its ₹792 crore IPO on July 30, setting the price band at ₹140-₹150 per share. The proceeds will fund ongoing luxury real estate projects in Mumbai, with a listing expected on August 6.
IpoSri Lotus DevelopersReal EstateLuxury ProjectsMumbaiReal Estate MaharashtraJul 24, 2025
The lot size for the IPO is set at 100 equity shares, and bids must be placed in multiples thereof. The entire issue consists of a fresh issue of shares, with a total fundraising target of ₹792 crore.
Out of the total proceeds, ₹550 crore will be allocated to subsidiaries—Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate—to partly fund ongoing developments named Amalfi, The Arcadian, and Varun, respectively. The remaining funds will be utilized for general corporate purposes and to strengthen the balance sheet, including possible debt repayment and working capital needs.
The IPO allocation is structured as follows:
- QIBs (Qualified Institutional Buyers): Not more than 50 percent
- NIIs (Non-Institutional Investors): Not less than 15 percent
- Retail Individual Investors: Not less than 35 percent
The basis of allotment will be finalized on August 4, with refunds initiated on August 5. Shares will be credited to demat accounts on the same day, and the listing is expected on August 6 on both BSE and NSE. The lead managers for the issue are Monarch Networth Capital and Motilal Oswal Investment Advisors.
Headquartered in Mumbai, Sri Lotus Developers is primarily engaged in luxury and ultra-luxury residential and commercial redevelopment projects in Mumbai's western suburbs. As of June 30, 2025, the company has developed a total built-up area of 0.93 million sq. ft. across various segments.
The company posted strong financial growth in FY25, with revenue increasing to ₹549.68 crore, up from ₹461.58 crore in the previous year. Net profit surged to ₹227.89 crore, a sharp rise from ₹119.81 crore in FY24. The company’s total debt stood at ₹122.13 crore as of FY25.
In terms of valuation, its peers include Arkade Developers (P/E 22.03), Keystone Realtors (P/E 48.18), Suraj Estate Developers (P/E 14.91), Sunteck Realty (P/E 43.26), Mahindra Lifespaces (P/E 91.43), and Hubtown (P/E 68.20), indicating a competitive but optimistic valuation landscape.
Frequently Asked Questions
What is the total fundraising target for Sri Lotus Developers' IPO?
The total fundraising target for Sri Lotus Developers' IPO is ₹792 crore.
What is the price band for the Sri Lotus Developers IPO?
The price band for the Sri Lotus Developers IPO is set at ₹140 to ₹150 per equity share.
How much of the IPO proceeds will be allocated to fund ongoing projects?
₹550 crore of the IPO proceeds will be allocated to fund ongoing luxury real estate projects.
When is the listing of Sri Lotus Developers shares expected?
The listing of Sri Lotus Developers shares is expected on August 6, 2023, on both BSE and NSE.
What is the financial performance of Sri Lotus Developers in FY25?
In FY25, Sri Lotus Developers posted a revenue of ₹549.68 crore and a net profit of ₹227.89 crore, showing significant growth from the previous year.
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