The issue was oversubscribed by more than 69.14 times on the final day of bidding on Friday. The IPO attracted applications for over 274.25 crore shares, significantly surpassing the 3.96 crore shares available for bidding.
The IPO received an overwhelming response across all investor categories, led by Qualified Institutional Buyers (QIBs). Their segment was booked 163.90 times. The retail portion saw a subscription of 20.28 times, while Non-Institutional Investors (NIIs) booked the issue 57.71 times.The price band for the IPO was set at ₹140–₹150 per share.
Investors who participated in the IPO subscription can check the allotment status online through the official websites of the BSE, NSE and the issue registrar, Kfin Technologies Ltd.
Steps to check Sri Lotus Developers IPO allotment on BSE
· Visit the BSE IPO allotment page at https://www.bseindia.com/static/investors/application_statuschecksystem.aspx.
· Select ‘Equity’ as the issue type.
· From the dropdown menu under ‘Issue Name’, select Sri Lotus Developers & Realty Ltd.
· Enter your Application Number or PAN.
· Click on ‘Search’ to view your share allotment details.Steps to check IPO allotment status on Kfin Technologies’ website:
· Visit the Kfin Technologies’ IPO allotment page at https://ris.kfintech.com/ipostatus/.
· Select any one of the available ‘Links’ from the five options.
· Choose ‘Sri Lotus Developers & Realty’ from the dropdown menu.
· Enter your PAN, application number, or DP/Client ID.
· Click on ‘Submit’ to view your allotment status.
Investors can also check the Sri Lotus Developers IPO share allotment status on the NSE website by using their PAN and application number.
The company is scheduled to initiate refunds and transfer of shares to the Demat accounts on Tuesday, August 5. Sri Lotus Developers & Realty Ltd shares are expected to be listed on the NSE and BSE on Wednesday, August 6.
About Sri Lotus Developers and use of proceeds
Sri Lotus Developers & Realty Ltd plans to use the net proceeds from its IPO to fund investments in its subsidiaries, Richfeel Real Estate Pvt. Ltd, Dhyan Projects Pvt Ltd and Tryksha Real Estate Pvt Ltd, for partial financing of their ongoing projects. A portion of the proceeds will also be allocated towards general corporate purposes.
Incorporated in February 2015, Sri Lotus Developers & Realty Ltd is engaged in the development of residential and commercial properties in Mumbai with a niche focus on redevelopment projects in the ultra-luxury and luxury segments across the city’s western suburbs. Its core development strategy remains concentrated on high-end residential projects, along with select commercial developments.
