Sri Lotus Developers IPO listing: Shares of Sri Lotus Developers made a strong stock market debut on Wednesday, August 6, as they listed at a nearly 19% premium on both exchanges. On BSE, Sri Lotus Developers share price opened at ₹179.10, a premium of 19.40% over its initial public offer (IPO) price of ₹150. On the NSE, Sri Lotus Developers stock listed at a premium of 18.67% at ₹178.
The listing was largely in line with the grey market premium (GMP) trends. Ahead of the debut today, Sri Lotus Developers IPO GMP was ₹27, signalling an 18% listing pop. Analysts had also indicated a solid start for the luxury realty firm’s shares.
Sri Lotus Developers IPO Details
The Sri Lotus Developers IPO had received a stellar response from investors during the three-day bidding process. The issue, which ran from July 30 to August 1, was booked 74.10 times. The retail portion was subscribed 21.77 times, the NII portion 61.82 times and the QIB portion 175.61 times. The IPO also had an employee quota, which saw a 21.37 times bids.
The ₹792 crore issue opened was priced in the range of ₹140 to ₹150 per share. The issue was entirely a fresh sale of 5.28 crore shares, meaning all the proceeds from the offer would be received by the company.
The company plans to use a major chunk of the proceeds raised for investment in the subsidiaries — Richfeel Real Estate Private Limited, Dhyan Projects Private Limited and Tryksha Real Estate Private Limited — for part-funding the development and construction cost of their ongoing projects. The remaining will be utilised for general corporate purposes.
About Sri Lotus Developers
Sri Lotus Developers is a prominent real estate developer specialising in residential and commercial projects across Mumbai, Maharashtra. With a strong focus on redevelopment in the Ultra-Luxury and Luxury segments, the company operates primarily in the city’s high-demand western suburbs—one of India’s most dynamic real estate markets.
Since acquiring land in the western suburbs in 2017, Sri Lotus Developers has steadily expanded its footprint. Operating on an asset-light model through strategic development agreements with landowners and housing societies, the company minimises capital expenditure, maintains financial agility, and ensures strong operating cash flows.
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