Sri Lotus Developers and Realty, based in Mumbai, is a reputed name in luxury and ultra-luxury redevelopment real estate projects across the western suburbs. The company has launched its Initial Public Offering (IPO), a Book Built Issue worth ₹792.00 Crores, comprising a complete fresh issue of 5.28 crore equity shares. The IPO subscription window is open from 30 July 2025 to 01 August 2025, with allotment expected on 04 August 2025, and listing tentatively on 06 August 2025 on both BSE and NSE.

The price band is set between ₹140 to ₹150 per share, and the lot size is 100 shares, implying a minimum investment of ₹15,000 for retail investors. HNIs need to apply for at least 14 lots, amounting to ₹2,10,000. At the upper band of ₹150, the market capitalisation of Sri Lotus Developers and Realty will be approximately ₹7,330.64 Crores.

The IPO is being managed by Monarch Networth Capital Limited and Motilal Oswal Investment Advisors Limited, while KFin Technologies Limited is the designated Registrar for the issue.

GMP and Listing Expectations

The Grey Market Premium (GMP) is currently hovering around ₹36, suggesting a listing gain potential of 24.09 percent. This premium reflects strong investor sentiment, though it's important to note that GMP is unofficial and unregulated, hence should be considered for educational purposes only.

IPO Subscription Status

As of 12:00 PM on 01 August 2025, the IPO has seen a subscription of 3.73 times, showing robust interest across categories. The exact breakdown of retail, institutional, and HNI investor participation will be available after market close.

Anchor Investor Update

Ahead of the IPO opening, Sri Lotus Developers raised ₹236.99 Crores from Anchor Investors at ₹150 per share. A total of 1,57,99,999 equity shares were allotted to these institutional investors. This pre-IPO investment reflects confidence from long-term players in the company’s fundamentals and valuation.

Company Background and Promoter Profile

Sri Lotus Developers and Realty was founded with the vision of delivering premium residential and commercial spaces in redevelopment zones of Mumbai. Their focus has remained sharply on customer satisfaction through lifestyle-enhancing environments.

Anand Kamalnayan Pandit, the promoter, has over 24 years of experience in the real estate sector. Known for receiving the Builder Ratna Award in 2016, he has already overseen 12 successful projects spanning 3.32 million sq. ft. under other entities prior to this IPO. His reputation and leadership are a significant value addition to the company.

Financial Performance

The company's financials present a strong upward growth trajectory:

• Revenue from Operations:

  • FY2023: ₹1,699.46 Million

  • FY2024: ₹4,661.88 Million

  • FY2025: ₹5,692.77 Million

• EBITDA:

  • FY2023: ₹244.31 Million

  • FY2024: ₹1,624.93 Million

  • FY2025: ₹3,085.61 Million

• Profit After Tax (PAT):

  • FY2023: ₹168.03 Million

  • FY2024: ₹1,191.44 Million

  • FY2025: ₹2,278.86 Million

This data clearly indicates consistent revenue and profit growth, a key signal of operational efficiency and strategic expansion.

Key Financial Ratios and Valuation

• Pre-Issue EPS (FY24): ₹5.51

• Post-Issue EPS (FY24): ₹4.65

• Pre-Issue P/E: 27.22x

• Post-Issue P/E: 32.24x

• Industry P/E: 53x

• ROCE (FY24): 27.22%

• ROE (FY24): 24.39%

• RoNW: 24.39%

These metrics indicate the IPO is fairly valued with significant room for upward re-rating post-listing when compared to the industry average. The return ratios are strong, adding further confidence to the growth prospects.

IPO Objectives

The net proceeds from the IPO will be utilised for:

1. Investment in subsidiaries –

   • Richfeel Real Estate Private Limited

   • Dhyan Projects Private Limited

   • Tryksha Real Estate Private Limited

   These investments are meant for partial funding of the development and construction cost of the company’s ongoing projects — Amalfi, The Arcadian, and Varun.

2. General Corporate Purposes – to support the company’s operational strength and financial flexibility.

Allotment and Listing Guide

The allotment date is 04 August 2025 and can be checked via:

• Registrar Website (KFin Technologies)

• Select Sri Lotus Developers and Realty IPO

• Enter either Application Number, PAN, or DP Client ID

• View status instantly post-submission

This simple online check will confirm if shares have been allotted, after which investors can take actions like demat credit tracking or preparing for listing day trading.

Day Wise GMP Trend (Reference Only)

Conclusion: Should You Apply?

Given the consistent financial growth, strong management track record, and reasonable valuation, the Sri Lotus Developers and Realty IPO appears to be a promising investment, especially for those seeking listing gains.

The GMP indicating a 24.09 percent premium, strong anchor investor interest, and substantial investor demand reinforce the recommendation to Apply. Furthermore, the company’s redevelopment projects in Mumbai’s high-demand luxury zones hold long-term strategic value.

Disclaimer
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

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