The company is planning to raise ₹792 crore through this issue, which opened for subscription on July 30 and will close on August 1.
The issue is entirely a fresh issue of 5.28 crore shares.In the grey market, shares of the company are commanding a premium of 29.33% over the upper end of the IPO price band, which is set at ₹140–₹150 per share. This premium indicates a potential listing gain of around ₹44, indicating a likely debut price of approximately ₹194 per share.
Out of the funds raised, ₹550 crore will be utilised for its subsidiaries for new projects and investments. The rest will be used for general corporate purposes.
Post the issue, the promoter holding in Sri Lotus Developers will come down to 81.9% from 91.81% currently.
About The Company
The Mumbai-based company is a developer of residential and commercial properties. It primarily focuses on redevelopment projects in the ultra-luxury and luxury segments in the western suburbs of Mumbai.Sri Lotus Developers’ strategy includes aggressive land aggregation via joint development agreements and MD models, and focus on luxury redevelopment in high-value markets in Mumbai. The IPO funds will be used to accelerate this project pipeline over the next 24 months.
The company currently has 13 ongoing or upcoming projects in the western suburbs with a saleable area of 16.9 lakh square feet. It plans to expand its presence in other micro-markets in southern and central regions of Mumbai, such as Nepean Sea Road and Prabhadevi.
As many as 54% of its projects are redevelopment ones, while the remaining 46% are greenfield ones.
Sri Lotus Financials
The company has witnessed continued growth in the last three years. It reported a profit after tax (PAT) of ₹228 crore in financial year 2025, compared to ₹119 crore and ₹17 crore in FY24 and FY23, respectively.
It reported a revenue of ₹550 crore in the previous financial year, in comparison to ₹462 crore in FY24 and ₹167 crore in FY23.
Its EBITDA margin expanded to 52.6% in FY25, compared to 34.2% and 12.8% in the previous two fiscal years.
The allotment for the Sri Lotus Developers IPO is expected to be finalised on August 4, while the shares will be listing on BSE, NSE with a tentative listing date fixed as August 6.
