Sri Lotus Developers IPO share price: Stock lists at nearly 19% premium; here's how much investors made

Sri Lotus Developers share price: Shares of real estate firm Sri Lotus Developers made a strong debut on the stock exchanges on Wednesday, August 6.

The stock started trading at ₹178 apiece on the National Stock Exchange (NSE), a premium of 18.67% over the IPO issue price of ₹150 per share.

At 12:55 pm, it surged 5.7% to ₹188 apiece. Its market capitalisation stands at ₹9,203.16 crore.

On the BSE, it listed at ₹179.10 per share, up 19.4%.

Sri Lotus Developers share price: Here's how much investors made per lot

The initial share sale received bids for 2,74,18,69,400 shares, which is 69.14 times over 3,96,58,730 shares on offer, according to National Stock Exchange (NSE) data.

Qualified institutional buyers led the bidding by subscription their portion 163.90 times, followed by non-institutional investors at 57.71 times the subscription. The retail individual investors category attracted 20.28 times the subscription.

The IPO, with a price band of ₹140 to ₹150 per share, was only a fresh issuance of 5.28 crore equity shares. There was no offer for sale (OFS) component.

The funds raised will be used for investment in its subsidiaries to partially fund the its ongoing construction projects and serve general corporate purposes.

Before the IPO, the company had collected ₹237 crore in the anchor round from investors such as Tata Mutual Fund (MF), Nippon India MF, Nuvama Asset Management, SBI MF, Mahindra Manulife MF, HSBC MF, Nomura Singapore Ltd, Citigroup Global Markets Mauritius, and Future Generali India Life Insurance Co Ltd.

The company had posted a 91.27% increase in its net profit to ₹227.88 in the financial year 2024-25, compared to ₹119.14 crore a year back. Its revenue from operations rose 19% year-on-year (YoY) to ₹549.68 crore in FY25.