Sri Lotus Developers IPO Sees Impressive 3.59x Subscription on Opening Day
Sri Lotus Developers and Realty Ltd, a prominent real estate company backed by Bollywood stars and renowned investor Ashish Kacholia, witnessed a robust 3.59 times subscription on the first day of its initial public offer (IPO).
Sri Lotus Developers IpoAshish KacholiaRichfeel Real EstateDhyan ProjectsReal EstateReal Estate MaharashtraJul 31, 2025
The IPO received bids for 14.23 crore (14,23,86,800) equity shares against 3.96 crore (3,96,58,730) equity shares on offer, according to data available with the NSE.
Qualified Institutional Buyers' (QIBs) category attracted 5.31 times subscription while the quota for non-institutional investors got subscribed 3.10 times. Retail Individual Investors (RIIs) part fetched 2.82 times subscription.
Sri Lotus Developers on Tuesday raised Rs 237 crore from institutional investors. The initial public offering (IPO) will conclude on August 1. The company has fixed a price band of Rs 140-150 per share for the IPO.
The IPO is entirely a fresh issue of shares worth Rs 792 crore 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 for part-funding the development and construction cost of its ongoing projects, Amalfi, The Arcadian, and Varun, respectively. Besides, a portion will be used for general corporate purposes.
The Anand Kamalnayan Pandit-promoted company is a real estate developer engaged in the construction of residential and commercial premises in Mumbai, Maharashtra, with a focus on redevelopment projects in the ultra-luxury and luxury segments in the western suburbs.
Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers of the public issue.
Frequently Asked Questions
What is the subscription rate for Sri Lotus Developers IPO on the first day?
The Sri Lotus Developers IPO was subscribed 3.59 times on the first day of bidding.
Who are the key investors backing Sri Lotus Developers?
Sri Lotus Developers is backed by Bollywood stars and renowned investor Ashish Kacholia.
How many shares were offered in the IPO?
The IPO offered 3.96 crore (3,96,58,730) equity shares.
What is the price band for the Sri Lotus Developers IPO?
The price band for the Sri Lotus Developers IPO is Rs 140-150 per share.
What are the main uses of the proceeds from the IPO?
Proceeds from the IPO will be used for investment in subsidiaries like Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd, and Tryksha Real Estate Pvt Ltd for part-funding the development and construction cost of ongoing projects, as well as for general corporate purposes.
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