{"id":58279,"date":"2025-07-30T14:22:20","date_gmt":"2025-07-30T08:52:20","guid":{"rendered":"https:\/\/www.equentis.com\/blog\/?p=58279"},"modified":"2026-01-13T17:38:11","modified_gmt":"2026-01-13T12:08:11","slug":"sri-lotus-developers-ipo-gmp-soars-should-you-apply","status":"publish","type":"post","link":"https:\/\/www.equentis.com\/blog\/sri-lotus-developers-ipo-gmp-soars-should-you-apply\/","title":{"rendered":"Sri Lotus Developers IPO GMP Soars. Should You Apply?"},"content":{"rendered":"
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The initial public offering<\/a> (IPO) of Sri Lotus Developers opened for subscription today. The company plans to raise \u20b9792 crore entirely via fresh issue\u2014meaning all the funds will go to the company, and no promoter shares are being sold.<\/p>\n\n\n\n

The IPO price band is set between \u20b9140 and \u20b9150 per share.<\/p>\n\n\n\n

Ahead of the opening, the Grey Market Premium (GMP)<\/a> touched \u20b944, indicating a potential listing gain of nearly 29% over the issue price.<\/p>\n\n\n\n

IPO Details<\/h2>\n\n\n\n
 <\/td>Particulars<\/strong><\/td><\/tr>
Date of IPO<\/a><\/td>30th July 2025 – 1st Aug 2025<\/td><\/tr>
Price band (Rs. per share)<\/td>140-150<\/td><\/tr>
Total issue size no of shares (crore)<\/strong><\/td>792<\/strong><\/td><\/tr>
Offer for Sale no of shares (crore)<\/td>792<\/td><\/tr>
Offer for sale (%)<\/td>–<\/td><\/tr>
Fresh issue (Rs. crore)<\/td>792<\/td><\/tr>
Market Cap (Rs. crore)<\/td>7,086<\/td><\/tr>
Objects of the offer<\/td>Fresh Issue <\/td><\/tr>
Key peers<\/td>Arkade Developers, Keystone Realtors, Mahindra Lifespace Developers, Hubtown, Suraj Estate Developers, Sunteck Realty<\/td><\/tr>
Industry <\/td>Real Estate<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Source:  RHP<\/p>\n\n\n\n

Celebrity Backing<\/h2>\n\n\n\n

In December 2024, several Bollywood celebrities<\/a> invested in the company via private placement.<\/p>\n\n\n\n

Celebrities Invested <\/strong><\/p>\n\n\n\n

Celebrity Name<\/strong><\/td>Investment Amount (\u20b9 Crore)<\/strong><\/td><\/tr>
Ajay Devgn<\/td>57.5<\/td><\/tr>
Shah Rukh Khan<\/td>10.1<\/td><\/tr>
Amitabh Bachchan<\/td>10<\/td><\/tr>
Hritik Roshan & Family<\/td>2.1<\/td><\/tr>
Ektaa Kapoor\u2019s Family<\/td>5<\/td><\/tr>
Tiger Shroff<\/td>0.5<\/td><\/tr>
Sara Ali Khan<\/td>Not disclosed<\/td><\/tr>
Rajkummar Rao<\/td>Not disclosed<\/td><\/tr>
Sajid Nadiadwala<\/td>Not disclosed<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Source: Chittorgarh <\/p>\n\n\n\n

This Bollywood backing has created strong buzz around this IPO<\/a>.<\/p>\n\n\n\n

Sri Lotus Developers Promoter Details<\/h2>\n\n\n\n

The company\u2019s main promoter<\/a> is Anand Kamalnayan Pandit, who holds a majority stake.<\/p>\n\n\n\n

Ashka Anand Pandit and Aishwarya Pandit also hold around 4% stake each through their respective family trusts.<\/p>\n\n\n\n

Promoter Shareholding<\/strong> <\/p>\n\n\n\n

Name of the Shareholder<\/strong><\/td>No. of Shares Held (Crores)<\/strong><\/td>% Shares<\/strong><\/td><\/tr>
Anand Kamalnayan Pandit<\/td>                                  35<\/td>88%<\/td><\/tr>
Ashka Pandit Family Trust<\/td>                                    2<\/td>4%<\/td><\/tr>
Aishwarya Pandit Family Trust<\/td>                                    2<\/td>4%<\/td><\/tr>
Rudratej Pandit Family Trust<\/td>                                    2<\/td>4%<\/td><\/tr>
Total<\/strong><\/td>                                  <\/strong><\/strong>40<\/strong><\/td>100%<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Post the IPO, the promoter group\u2019s holding will reduce from 92% to 82%, while public shareholding will rise accordingly.<\/p>\n\n\n\n

Shareholding Pre & Post Issue<\/strong><\/p>\n\n\n\n

Particulars (In Crores)<\/strong><\/td>Pre Issue<\/strong><\/td>Post Issue<\/strong><\/td><\/tr>
No of Shares<\/strong><\/td>% Holding<\/strong><\/td>No of Shares<\/strong><\/td>% Holding<\/strong><\/td><\/tr>
Promoters & Promoter Group<\/td>40<\/td>92%<\/td>40<\/td>82%<\/td><\/tr>
Public<\/td>4<\/td>8%<\/td>                9<\/td>18%<\/td><\/tr>
Total<\/td>44<\/td>100.0%<\/td>              49<\/td>100.0%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Valuation<\/h2>\n\n\n\n

At the upper price band of \u20b9150, the IPO is valued at a P\/E ratio<\/a> of 28.7x based on FY25 earnings. This reflects a premium valuation, aligned with the company\u2019s luxury positioning and expected future growth.<\/p>\n\n\n\n

Sri Lotus Developers – Peer Comparison<\/p>\n\n\n\n

Name of the Company (Rs. Crore)<\/strong><\/td>FY25<\/strong><\/td><\/tr>
Market Cap (Rs Crore)<\/strong><\/td>ROCE<\/a> %<\/strong><\/td>D\/E (x)<\/strong><\/td>P\/E (x)<\/strong><\/td><\/tr>
Sri Lotus Developers<\/td>7086<\/td>29.2%<\/td>0.1<\/td>28.7<\/td><\/tr>
Arkade Developers<\/td> 3,585<\/td>30.6%<\/td>0.13<\/td>23.1<\/td><\/tr>
Keystone Realtors<\/td>7,809<\/td>9.3%<\/td>0.34<\/td>45.4<\/td><\/tr>
Mahindra Lifespace Developers <\/td>7,734<\/td>2.2%<\/td>0.76<\/td>77.5<\/td><\/tr>
Hubtown<\/td>4,370<\/td>8.2%<\/td>0.33<\/td>95.2<\/td><\/tr>
Suraj Estate Developers<\/td>1,405<\/td>17%<\/td>0.51<\/td>15.4<\/td><\/tr>
Sunteck Realty<\/td>5,919<\/td>6%<\/td>0.12<\/td>36.8<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Sri Lotus Developers Business Overview<\/h2>\n\n\n\n

Founded in February 2015, Sri Lotus Developers is a premium real estate company<\/a> based in Mumbai. It primarily focuses on ultra-luxury and luxury residential projects in Mumbai\u2019s western suburbs, with price ranges:<\/p>\n\n\n\n