Sri Lotus Developers IPO Live: Subscription Status, GMP, and Key Details
Sri Lotus Developers, a Mumbai-based real estate firm backed by Bollywood celebrities, has seen robust subscription on its IPO's second day. The issue, priced at ₹140-150 per share, is currently booked 7.51x. Analysts recommend long-term investors to subscribe, given the company's focus on high-end real estate projects.
Sri Lotus DevelopersIpoReal EstateMumbaiLuxury HousingReal EstateJul 31, 2025
On Tuesday, July 29, the company secured ₹237 crore from institutional investors in advance of its IPO opening for subscriptions. Notable investors include Tata Mutual Fund (MF), Mahindra Manulife MF, Nippon India MF, Nuvama Asset Management, HSBC MF, SBI MF, Citigroup Global Markets Mauritius, Nomura Singapore Ltd, and Future Generali India Life Insurance Co. Ltd, as stated in a circular posted on BSE's website.
According to the circular, the real estate company has issued 1.58 equity shares to 16 funds at ₹150 each, bringing the total fundraising to ₹237 crore. The company, promoted by Anand Kamalnayan Pandit, specializes in real estate development, focusing on the construction of both residential and commercial properties in Mumbai, Maharashtra, particularly in ultra-luxury and luxury redevelopment projects in the western suburbs.
As of June 30, 2025, the company has completed several projects, with 5 ongoing and 11 planned for the future. Angel One's views on the IPO suggest that at a post-issue P/E of approximately 32.2×, the valuation of Sri Lotus Developers appears reasonable considering its strategic focus on Mumbai’s high-entry-barrier luxury redevelopment segment. They recommend a ‘Subscribe’ rating for long-term investors.
Sri Lotus Developers IPO subscription status is 7.51 times on day 2, so far. The retail portion was subscribed 6.20 times, and the NII portion has been booked 7.00 times, while Qualified Institutional Buyers (QIBs) portion received 8.50 times bids. The company has received bids for 14,26,50,000 shares against 3,96,58,730 shares on offer, at 17:00 IST, according to data on BSE.
Rajan Shinde, Research Analyst of Mehta Equities Ltd, stated that Sri Lotus Developers and Realty IPO offers investors an opportunity to invest in a Mumbai-based real estate developer focused on the high-growth ultra-luxury and luxury housing segment, with a strong presence in redevelopment projects. Operating within a fragmented and fiercely competitive market, the company distinguishes itself as a specialized ultra-luxury developer with significant profit margins, even as it enters at a premium valuation. The involvement of prominent investors and Bollywood figures in the pre-IPO placement increases visibility while raising expectations.
Taking all aspects into account, Shinde advises long-term investors looking for selective exposure to Mumbai’s high-end real estate sector to “SUBSCRIBE” to the Sri Lotus Developers and Realty Ltd IPO. According to SBICAP Securities, the firm intends to increase its footprint in various micro-markets in the southern and central parts of Mumbai, including Nepean Sea Road, Prabhadevi, and the eastern suburbs like Ghatkopar. The company operates on an asset-light model, which contributes to a robust balance sheet and a net debt-free position. Among its competitors, SLDRL achieves the highest EBITDA and PAT margins for FY25. The brokerage advises investors to SUBSCRIBE to the IPO at the specified cut-off price.
Sri Lotus Developers IPO consists entirely of a new issuance of shares valued at ₹792 crore, with no component for Offer For Sale (OFS). The funds raised from this new issuance will be allocated towards investments in its subsidiaries—Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd, and Tryksha Real Estate Pvt Ltd—to partially finance the development and construction expenses of its ongoing projects, namely Amalfi, The Arcadian, and Varun. Additionally, a portion of the funds will be reserved for general corporate purposes. Monarch Networth Capital and Motilal Oswal Investment Advisors are serving as the lead managers for this public offering.
Sri Lotus Developers IPO GMP today or grey market premium is +44. This indicates that Sri Lotus Developers share prices were trading at a premium of ₹44 in the grey market, according to investorgain.com. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sri Lotus Developers share price was indicated at ₹194 apiece, which is 29.33% higher than the IPO price of ₹150. 'Grey market premium' indicates investors' readiness to pay more than the issue price.
In December, Sri Lotus Developers secured over ₹407 crore by issuing 2.66 crore shares through private placement. Among the investors, Bollywood legend Amitabh Bachchan bought approximately 6.7 lakh shares for ₹10 crore, while the Shah Rukh Khan Family Trust obtained around 6.75 lakh shares for ₹10.1 crore. Ashish Kacholia acquired 33.33 lakh shares for ₹50 crore. Other prominent investors include Hrithik Roshan, Rakesh Roshan, Tiger Jackie Shroff, Ektaa Kapoor, Tusshar Kapoor, and Jeetendra, also known as Ravi Amarnath Kapoor.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Frequently Asked Questions
What is the price band for the Sri Lotus Developers IPO?
The price band for the Sri Lotus Developers IPO is set at ₹140-150 per share.
How much has Sri Lotus Developers raised from institutional investors?
Sri Lotus Developers has secured ₹237 crore from institutional investors in advance of its IPO opening for subscriptions.
What is the current subscription status of the Sri Lotus Developers IPO?
As of day 2, the Sri Lotus Developers IPO is booked 7.51 times, with the retail portion subscribed 6.20 times, NII portion 7.00 times, and QIBs portion 8.50 times.
What is the grey market premium (GMP) for the Sri Lotus Developers IPO?
The grey market premium (GMP) for the Sri Lotus Developers IPO is +44, indicating that shares are trading at a premium of ₹44 in the grey market.
Who are some of the notable investors in the pre-IPO placement of Sri Lotus Developers?
Notable investors in the pre-IPO placement include Bollywood celebrities like Amitabh Bachchan, Shah Rukh Khan, Hrithik Roshan, and prominent investors like Ashish Kacholia.
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