Shares of Sri Lotus Developers made a robust debut on the stock exchanges today, listing at a significant premium over the issue price of Rs 150 per share.On the BSE, the stock opened at Rs 179.10, registering a gain of 19.4% from the IPO price. Similarly, on the NSE, it listed at Rs 178, up 18.7%.Listing mirrors grey market sentimentThe listing performance was largely in line with grey market expectations, where the stock was quoting a premium of around 18% ahead of its debut. The market response reflects investor confidence in the company’s prospects and the broader bullish sentiment in the real estate sector.IPO sees overwhelming demandThe Rs 792 crore IPO, an entirely fresh issue of 5.28 crore equity shares, was open from July 30 to August 1. It received a blockbuster response, being subscribed 74.10 times overall.The Qualified Institutional Buyers (QIB) segment led the demand with a subscription of 175.61 times, followed by Non-Institutional Investors (61.82 times) and Retail Investors (21.77 times).Focused player in Mumbai’s luxury redevelopment marketHeadquartered in Mumbai, Sri Lotus Developers is focused on ultra-luxury and luxury residential and commercial redevelopment projects across the city’s affluent western suburbs. The company operates in a niche but competitive segment and has adopted an asset-light model, partnering with landowners via development agreements.As of June 2025, it has a developable area of 0.93 million sq ft and a strong pipeline comprising four completed, five ongoing, and eleven upcoming projects.IPO proceeds usageProceeds from the IPO will primarily be used to invest in subsidiaries for the development of three key ongoing projects — Amalfi, The Arcadian, and Varun — with Rs 550 crore allocated towards project costs. The balance will be used for general corporate purposes.Financial performance shows momentumIn FY25, the company reported revenue of Rs 569.28 crore, marking a 22% growth over the previous year. Its profit after tax (PAT) more than doubled to Rs 227.89 crore, showcasing strong operational performance and profitability.
Sri Lotus Developers share price lists with 20% premium
