Sri Lotus Developers and Realty Limited, based in Mumbai, is a prominent player in the ultra-luxury and luxury residential and commercial redevelopment market, primarily in the western suburbs of Mumbai. With a clear mission to improve lifestyles through customer-focused development, the company has grown its presence under the leadership of Anand Kamalnayan Pandit, a veteran of 24 years in the real estate space and recipient of the Builder Ratna Award (2016).

The company has launched its Initial Public Offering (IPO) through a Book Built Issue of ₹792.00 Crores comprising entirely a fresh issue of 5.28 crore equity shares. The price band is set at ₹140 to ₹150 per share, with the market capitalisation reaching ₹7,330.64 Crores at the upper price band.

Key Dates and IPO Details

• IPO Open Date: July 30, 2025

• IPO Close Date: August 01, 2025

• Allotment Finalization: August 04, 2025

• Tentative Listing: August 06, 2025

• Listing Platforms: BSE & NSE

• Lot Size: 100 Shares

• Retail Minimum Investment: ₹15,000

• HNI Minimum Investment (14 lots): ₹2,10,000

The issue is being led by MONARCH NETWORTH CAPITAL LIMITED and MOTILAL OSWAL INVESTMENT ADVISORS LIMITED as the Book Running Lead Managers, while KFIN TECHNOLOGIES LIMITED serves as the Registrar.

Anchor Investor Participation

On July 29, 2025, Anchor Investors poured in ₹236.99 Crores, subscribing to 1,57,99,999 shares at ₹150 per share, under the guidance of the lead managers. This early interest set a solid foundation for the IPO.

Subscription Status and Grey Market Trends

As of 12:00 PM on August 01, the IPO received a subscription of 3.73 times, indicating strong demand. The breakdown across investor classes is expected to reflect healthy participation from retail, HNIs, and institutional investors.

The Grey Market Premium (GMP) stood at ₹36 on July 28, suggesting an expected listing price of ₹186, around 24.09% higher than the upper price band. While GMPs are not official indicators, they often reflect sentiment.

Financial Performance and Key Metrics

Strong financial performance over the past three fiscal years has made this IPO attractive to many investors:

These numbers indicate a consistent and exponential rise in performance, underscoring the company’s scalability and operational efficiency.

Valuation and Ratios

• 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

• Return on Capital Employed (ROCE): 27.22%

• Return on Equity (ROE): 24.39%

• Return on Net Worth (RoNW): 24.39%

These ratios suggest that the IPO is fairly priced and is backed by solid fundamentals, offering potential upside both in the short-term listing gains and long-term portfolio inclusion.

IPO Objectives

The net proceeds from the IPO will be utilised as follows:

1. ₹5,500 Million to be invested in subsidiaries:

   • Richfeel Real Estate Private Limited

   • Dhyan Projects Private Limited

   • Tryksha Real Estate Private Limited

   These funds will be used to part-fund the development and construction costs of ongoing projects: Amalfi, The Arcadian, and Varun.

2. Remaining funds will be deployed for general corporate purposes to support overall business operations.

Promoter Experience and Legacy

Anand Kamalnayan Pandit, the promoter of the company, has already delivered 12 completed projects (8 residential + 4 commercial), spanning 3.32 million sq. ft. under his private ventures. His seasoned experience and deep understanding of Mumbai’s real estate micro-markets lend strong credibility to this IPO.

How to Check Allotment Status

The IPO allotment status will be live on August 04, 2025 on the KFintech Registrar website. Here's how you can check:

• Go to the allotment status page

• Select Sri Lotus Developers and Realty Limited IPO

• Enter PAN, application number, or DP Client ID

• Click on Submit to check your allotment

Investors can also track allotments via BSE and NSE websites.

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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