Sri Lotus Developers and Realty to hit primary market today in ₹140-150 price band

Sri Lotus Developers and Realty Ltd is launching its ₹792-crore initial public offering today at a price band of ₹140-150. The IPO, entirely a fresh issue, will close on August 1. Investors can bid for a minimum of 100 equity shares and in multiples of 100 equity shares, thereafter.

The offer is being made through the book-building process, wherein not more than 50 per cent of the net offer is reserved for qualified institutional buyers, up to 15 per cent for non-institutional bidders, and 35 per cent for retail investors. A discount of ₹14 a share is being offered to eligible employees bidding in the employee reservation portion.

As part of the IPO, Sri Lotus Developers has garnered ₹237 crore from anchor investors, by allotting 1.58 crore shares at ₹150 a share. Some of the marquee anchor investors include Tata Mutual Fund, Mahindra Manulife Mutual Fund, Nippon Mutual Fund, Samsung India Mid & Small Focus Securities Master Investment Trust, Nuvama Asset Management Ltd, HSBC Mutual Fund, SBI Mutual Fund, Citigroup Global Markets Mauritius Pvt Ltd, Nomura Singapore Ltd, Future Generali India Life Insurance Co. Ltd.

Of the total funds raised, ₹550 crore will be allocated to its subsidiaries — Richfeel Real Estate Private Ltd, Dhyan Projects Pvt Ltd, and Tryksha Real Estate Pvt Ltd — to partially cover the development and construction costs of ongoing projects: Amalfi, The Arcadian, and Varun, respectively; and for general corporate purposes.

Sri Lotus Developers Realty Ltd is a Mumbai-based developer that specialises in building high-end homes and commercial spaces, mainly focusing on rebuilding older properties in the city’s western suburbs. With over 24 years of real estate experience, the company focuses on customer satisfaction by designing projects that enhance lifestyles and maximises market appeal.

The company was backed by Shah Rukh Khan and Amitabh Bachchan among famous film personalities, in the pre-IPO round of fund-raising.

According to its IPO paper, the Shah Rukh Khan Family Trust hold 6.75 laky shares for an investment of ₹10.1 crore. Amitabh Bachchan bought 6.67 lakh shares for ₹10 crore; Hrithik Rakesh Roshan and his father Rakesh Roshan hold 70,000 shares each. Other famous personalities included Ektaa Ravi Kapoor, her brother Tusshar Kapoor, and their father Jeetendra; Tiger Shroff, Sajid Nadiadwala and Manoj Bajpayee.

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

Published on July 30, 2025