The Initial Public Offering of Sri Lotus Developers & Realty Limited was subscribed 3.60 times on the first day of bidding.

The issue received bids of 14,26,50,000 shares against the offered 3,96,58,730 equity shares, at a price band of ₹140-150, according to the data available on the stock exchanges.

Qualified Institutional Buyer Portion and Non-Institutional Investors Portion were subscribed 5.31 times and 3.10 times respectively, whereas Retail Portion was subscribed 2.84 times. Employee Portion was subscribed 3.01 times. The issue kicked off for subscription on Wednesday, July 30, 2025, and will close on Friday, August 01, 2025. 

A day before the opening of the issue, Sri Lotus Developers & Realty Ltd raised Rs 237 crores from anchor investors. Some of the marquee Institutions that participated in the anchor includes Tata Mutual Fund, Mahindra Manulife Mutual Fund, Nippon Mutual Fund, Samsung India Mid & Small Focus Securities Master Investment Trust, Nuvama Asset Management Limited, HSBC Mutual Fund, SBI Mutual Fund, Citigroup Global Markets Mauritius Private Limited, Nomura Singapore Limited, and Future Generali India Life Insurance Co. Ltd.

Leading brokerage firms like Anand Rathi, Angel One, DRChoksey, Reliance Securities, SBICAP Securities, BP Wealth, Canmoney Securities, Marwadi Financial Services, and Swastika Investmart have given a “Subscribe” rating to the issue, citing company’s strong strategic presence in Mumbai’s ultra-luxury and luxury residential real estate market, consistent financial performance, and customer-centric approach. Sri Lotus Developers & Realty Ltd. reported a ~91% YoY jump in PAT and robust return ratios in FY25 (ROE: ~24.4%, ROCE: ~27.2%) alongside healthy EBITDA margins of ~52.6% and a conservative debt profile (D/E: 0.13x). Its asset-light model, timely execution track record, and integrated capabilities add to its appeal. While the IPO is seen as fully priced (P/E: ~30.6x–32.2x), brokerages find the valuation reasonable given its growth outlook, disciplined financial strategy, and exposure to high-entry-barrier redevelopment projects. Hence, they recommend a “Subscribe for long-term” rating.

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