Mumbai-based Sri Lotus Developers and Realty Limited is set to launch its Rs 792 crore Initial Public Offering (IPO) on Wednesday, July 30, with the issue closing on Friday, August 1, 2025. The company has fixed a price band of Rs140 to Rs150 per equity share of face value Rs1, with a Rs14 discount offered to eligible employees applying under the reserved quota2.
The IPO is entirely a fresh issue, with no Offer for Sale (OFS) component. Investors can bid for a minimum of 100 equity shares, and in multiples thereafter. The issue will be made through the book-building process, allocating 50% to Qualified Institutional Buyers (QIBs), 15% to Non-Institutional Investors (NIIs), and 35% to retail investors.
Founded in 2005, Sri Lotus Developers operates under the “Lotus Developers” brand, specializing in redevelopment projects in Mumbai’s ultra-luxury and luxury segments. Its portfolio spans greenfield, redevelopment, and joint development projects, with a completed developable area of 0.93 million sq. ft. as of June 30, 20253.
The company has 4 completed, 5 ongoing, and 11 upcoming projects, with expansion plans targeting Nepean Sea Road, Prabhadevi, and Ghatkopar. Its residential offerings include 2BHK and 3BHK flats priced between Rs3–Rs7 crore, and 3BHK to 4+ BHK penthouses priced above Rs7 crore, while its commercial segment focuses on premium office spaces.
Financially, Sri Lotus posted a 19.09% rise in revenue from Rs461.57 crore in FY24 to Rs549.68 crore in FY25, while profit after tax surged 90.21% to Rs227.89 crore. Proceeds from the IPO will be used to invest in subsidiaries — Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate — for part-funding of ongoing projects Amalfi, The Arcadian, and Varun, along with general corporate purposes2.
The IPO is backed by high-profile investors including Amitabh Bachchan, Shah Rukh Khan Family Trust, Hrithik Roshan, and Ashish Kacholia, who participated in a Rs407 crore private placement in December 20244.
Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers, while KFin Technologies is the registrar of the issue.
