Sri Lotus Developers IPO Launches with ₹140–₹150 Price Band
Sri Lotus Developers, a prominent real estate developer in Mumbai, has set a price band of ₹140 to ₹150 per share for its ₹792 crore Initial Public Offering (IPO), which opens for public subscription on July 30.
IpoReal EstateMumbaiSri Lotus DevelopersRedevelopmentReal Estate MumbaiJul 24, 2025
The initial share-sale will open for public subscription on July 30 and conclude on August 1. The IPO is entirely a fresh issue of shares, 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. These funds will part-finance the development and construction costs of its ongoing projects, Amalfi, The Arcadian, and Varun, respectively. Additionally, a portion of the proceeds will be allocated for general corporate purposes.
Sri Lotus Developers, founded by Anand Kamalnayan Pandit, is a real estate developer focused on constructing residential and commercial premises in Mumbai, Maharashtra. The company has a strong emphasis on redevelopment projects in the ultra-luxury and luxury segments in the western suburbs. As of June 30, 2025, the company has completed several projects, has 5 ongoing projects, and 11 upcoming projects.
The financial performance of Sri Lotus Developers has been impressive. In Fiscal 2025, the company's revenue from operations increased by 19% to ₹549.68 crore from ₹461.57 crore in the preceding fiscal. Profit after tax surged by 90% to ₹228 crore from ₹120 crore during the same period.
The company has reserved 50% of the issue for qualified institutional buyers (QIBs), 35% for retail investors, and the remaining 15% for non-institutional investors (NIIs).
In December, Sri Lotus Developers raised over ₹407 crore by allotting 2.66 crore shares on a private placement basis. Among the notable investors are Bollywood icons such as Amitabh Bachchan, who purchased around 6.7 lakh shares for ₹10 crore, and the Shah Rukh Khan Family Trust, which acquired about 6.75 lakh shares for ₹10.1 crore. Ashish Kacholia picked up 33.33 lakh shares for ₹50 crore. Other prominent investors include Hrithik Roshan, Rakesh Roshan, Tiger Jackie Shroff, Ektaa Kapoor, Tusshar Kapoor, and Jeetendra alias Ravi Amarnath Kapoor.
Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers of the public issue.
Frequently Asked Questions
What is the price band for Sri Lotus Developers' IPO?
The price band for Sri Lotus Developers' IPO is set at ₹140 to ₹150 per share.
When will the IPO open and close for public subscription?
The IPO will open for public subscription on July 30 and close on August 1.
How much is the total size of the IPO?
The total size of the IPO is ₹792 crore.
What will the proceeds from the IPO be used for?
The proceeds will be used for investment in subsidiaries, part-funding the development and construction costs of ongoing projects, and general corporate purposes.
Who are some of the notable investors in Sri Lotus Developers?
Notable investors include Bollywood stars like Amitabh Bachchan, Shah Rukh Khan, Hrithik Roshan, and investors like Ashish Kacholia.
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