Sri Lotus Developers IPO Opens July 30 at Rs. 140 - Rs. 150 Band

Mumbai-based Sri Lotus Developers and Realty Limited is set to launch its Rs. 792 crore Initial Public Offering (IPO) on Wednesday, July 30, 2025, closing on Friday, August 1, 2025.

The price band is set between Rs. 140 and Rs. 150 per equity share, with a Rs. 14 discount for eligible employees. The IPO is entirely a fresh issue, with no Offer for Sale (OFS). Investors can bid for a minimum of 100 equity shares and in multiples thereafter. Allocation is split: 50 percent to QIBs, 15 percent to NIIs, and 35 percent to retail investors, via a book-building process.

Key Highlights

• IPO opens July 30, 2025, with a price band of Rs. 140–Rs. 150 per share
• Entirely a fresh issue worth Rs. 792 crore with celebrity investor backing
• Proceeds to fund luxury real estate projects in prime Mumbai areas

Founded in 2005, Sri Lotus Developers specializes in ultra-luxury and luxury residential redevelopment projects in Mumbai under the "Lotus Developers" brand. As of June 30, 2025, the company has completed 4 projects, is working on 5, and has 11 in the pipeline, including in Nepean Sea Road, Prabhadevi, and Ghatkopar.

Residential units range from 2BHKs at Rs. 3–Rs. 7 crore to 4+ BHK penthouses above Rs. 7 crore, alongside a premium commercial portfolio.

The company posted FY25 revenues of Rs. 549.68 crore (up 19.09% YoY) and a 90.21 percent rise in PAT to Rs. 227.89 crore. IPO proceeds will fund ongoing projects (Amalfi, The Arcadian, and Varun) via subsidiaries Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate.

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Notably, the IPO is backed by celebrity investors including Amitabh Bachchan, the Shah Rukh Khan Family Trust, Hrithik Roshan, and market veteran Ashish Kacholia, who participated in a Rs. 407 crore private placement in December 2024.

Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers, while KFin Technologies is the registrar of the issue.