Sri Lotus Developers and Realty, a prominent developer based in Mumbai, Maharashtra, specializes in residential and commercial redevelopment projects focused primarily on the Ultra Luxury and Luxury segments within Mumbai’s western suburbs. Since inception, the company has worked to build a brand reputation centered on customer satisfaction by developing spaces that enhance lifestyle quality for its clients.

IPO Details

The company is launching a Book Built Issue IPO with a fresh issue size of ₹792.00 Crores, comprising 5.28 crore equity shares. The subscription window is open from 30 July 2025 to 1 August 2025, with allotment expected by 4 August 2025. Shares are slated for listing on the BSE and NSE around 6 August 2025.

The IPO's price band is set between ₹140 to ₹150 per equity share, valuing the company’s market capitalization at approximately ₹7,330.64 Crores at the upper price band. The IPO lot size is 100 shares, with retail investors required to invest a minimum of ₹15,000 and High Net Worth Individuals (HNIs) a minimum of 14 lots (1,400 shares), amounting to ₹2,10,000.

MONARCH NETWORTH CAPITAL LIMITED and MOTILAL OSWAL INVESTMENT ADVISORS LIMITED are the book running lead managers, with KFIN TECHNOLOGIES LIMITED appointed as the registrar.

Grey Market Premium and Market Sentiment

The IPO currently shows a Grey Market Premium (GMP) of ₹36, indicating an expected listing price around ₹186 per share. This premium translates to a significant upside of 24.09% over the upper price band. While GMP provides a glimpse of investor demand in unofficial markets, it is not an official indicator of final listing gains and should be treated as informational.

Financial Performance

Sri Lotus Developers and Realty has exhibited robust financial growth over the past three fiscal years:

• FY 2023: Revenue ₹1,699.46 Million | EBITDA ₹244.31 Million | PAT ₹168.03 Million

• FY 2024: Revenue ₹4,661.88 Million | EBITDA ₹1,624.93 Million | PAT ₹1,191.44 Million

• FY 2025: Revenue ₹5,692.77 Million | EBITDA ₹3,085.61 Million | PAT ₹2,278.86 Million

These figures demonstrate a steady and accelerating growth trajectory.

Key financial ratios include a pre-issue EPS of ₹5.51 and post-issue EPS of ₹4.65 for FY24. The company’s pre-issue P/E ratio stands at 27.22x, and post-issue P/E at 32.24x, compared with the industry P/E ratio of 53x. Profitability and efficiency metrics show a Return on Capital Employed (ROCE) of 27.22% and Return on Equity (ROE) of 24.39%, highlighting effective capital utilisation and strong returns.

Company Profile

Promoted by Anand Kamalnayan Pandit, who brings over 24 years of real estate expertise and recognition including the Builder Ratna Award (2016), Sri Lotus Developers and Realty has successfully executed multiple projects across residential and commercial domains, with a total area exceeding 3.32 million sq. ft. through associated entities.

IPO Objectives

The net proceeds from the IPO will be utilised primarily for:

1. Investment of ₹5,500 million in subsidiaries — Richfeel Real Estate Private Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited — to part-fund ongoing projects named Amalfi, The Arcadian, and Varun.

2. General corporate purposes.

How to Check IPO Allotment

Investors can check their IPO allotment status from 4 August 2025 on the registrar’s website by selecting the IPO, entering their application number, PAN, or DP Client ID, and submitting the details.

Investment Outlook

With its focus on the ultra-luxury redevelopment market in Mumbai, strong financial growth, and attractive valuation metrics, the Sri Lotus Developers and Realty IPO presents a compelling opportunity. The substantial Grey Market Premium reflects positive investor sentiment and potential listing gains. Investors seeking exposure to premium real estate developments in Mumbai may consider applying.

Disclaimer:
This article is for educational and informational purposes only and does not constitute financial advice. Readers should consult qualified financial professionals before making investment decisions. The content is based on publicly available data as of publication and is subject to change. Past performance is not indicative of future results.

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