The SRI Lotus developer opened its initial public offering (IPO) on Wednesday, July 30, witnessed strong investor participation across categories on Day 1.
According to BSE data at 5 p.m., the overall subscription of the IPO was 3.60 times. Qualified Institutional Buyers (QIBs) led the demand, subscribing to 5.31 times its retained portion. Retail Individual Investors (RII) then subscribed 2.84 times, while the non-institutional Investors (NIIS) category was subscribed 3.10 times. The employee retention category also received healthy interest, with 3.01 subscriptions.
The IPO is a completely new issue for 528 million shares, offered at a price of 140 rupees per share with Rs 150. Investors can bid for 100 shares of stock, requiring a minimum investment of Rs 14,000 for retail applicants. Employees are eligible for a discount of Rs 14 per share. Public issuance will end on August 1, 2025.
The allocation is expected to be completed by August 4 and is scheduled to be on tentative listings on BSE and NSE on August 6.
Motilal Oswal Investment Advisors Limited is the chief manager of book runs for the issue, while KFIN Technologies Limited is the registrar.
SRI Lotus Developers IPO: Shared allocation structure:
- Total stocks provided: 5,28,13,725
- QIBS: 2,63,333 shares (49.86%)
- QIBS (Former Moderator): 1,05,33,334 shares (19.94%)
- Host investors: 1,57,99,999 shares (29.92%)
- NIIS: 79,00,000 shares (14.96%)
- RII: 1,84,33,333 shares (34.90%)
Motilal Oswal Investment Advisors Ltd is the chief manager of book runs for the issue, and KFIN Technologies Ltd is the registrar.
About SRI Lotus Developers and Real Estate Co., Ltd.
Founded in February 2015, SRI Lotus Developers and Realty Ltd is a Mumbai-based real estate company focusing on luxury and ultra-luxury reconstruction projects throughout the western suburbs of the city.
The company works primarily on premium residential spaces – considering 2bhk and 3bhk apartments from Rs 3 crore to Rs 7 crore, larger 3BHK, 4BHK and even penthouses from Rs 7 crore. In addition to residential space, it has also developed high-end commercial office properties.
As of June 30, 2025, the total developmentable area of SRI Lotus is approximately 930,000 square feet and is actively engaged in multiple projects. It has delivered four complete projects, five are currently under development, and has lined up 11 new projects, with a strong momentum in Mumbai’s high-end property market.
