Sri Lotus Developers IPO listing date has been scheduled for tomorrow (Wednesday, August 6). Sri Lotus Developers IPO allotment was finalised yesterday (Monday, August 4). For those who have been allocated shares, the crediting of shares to demat accounts will occur today, Tuesday, August, 5. The process of refunding those who have not yet received their shares will likewise be finished today.
The initial public offer of Sri Lotus Developers and Realty Ltd, backed by Bollywood stars and renowned investor Ashish Kacholia launched its IPO for subscription from Wednesday, July 30 to Friday, August 1. By the conclusion of the bidding period, the offering received a healthy response, particularly from qualified institutional buyers (QIBs) who subscribed 163.90 times, followed by non-institutional investors (NIIs) at 57.71 times. Retail investors showed a subscription rate of 20.28 times. Notably, on the third day of the IPO, the Sri Lotus Developers IPO subscription status stood at 69.14 times, as reported by the BSE.
According to Prashanth Tapse, Senior Vice President of Research – Research Analyst at Mehta Equities Ltd, despite the current volatility in the market, Sri Lotus Developers and Realty Ltd experienced significant demand for subscriptions, primarily driven by Qualified Institutional Buyers (QIBs), along with strong involvement from retail investors and High Net-worth Individuals (HNIs). This positive response demonstrates investor confidence in the company’s targeted strategy and market positioning.
Given the substantial subscription levels, Tapse anticipates a favourable listing gain in the range of 20–25% or higher, depending on the overall market sentiment on the day of the listing.
Sri Lotus Developers IPO reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. Sri Lotus Developers IPO price band was fixed in the range of ₹140 to ₹150 per equity share of the face value of Re 1.
Sri Lotus Developers IPO GMP today
Let’s check what does Sri Lotus Developers IPO GMP today signal ahead of listing.
Sri Lotus Developers IPO GMP is +38. This indicates Sri Lotus Developers share price was trading at a premium of ₹38 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Sri Lotus Developers share price was indicated at ₹188 apiece, which is 25.33% higher than the IPO price of ₹150.
According to the analysis of the past 15 sessions of grey market activities, the IPO GMP is currently on the rise and is expected to list strongly. The lowest GMP recorded is ₹0.00, whereas the highest GMP stands at ₹51, as stated by experts from investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Sri Lotus Developers IPO details
Sri Lotus Developers IPO consists entirely of a new issue, with the goal of raising ₹792 crore. Out of the total amount raised, ₹550 crore will be directed toward its subsidiaries—Richfeel Real Estate Private Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited—to partly finance the development and construction expenses of ongoing projects: Amalfi, The Arcadian, and Varun, respectively.
The lead managers for the issue are Monarch Networth Capital and Motilal Oswal Investment Advisors.
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