Sri Lotus Developers IPO’s latest GMP shows stock listing at 21% premium. Check details

Sri Lotus Developers and Realty, which is set to launch its IPO next Wednesday, is commanding a grey market premium of Rs 32 over the upper band of issue price of Rs 150. If the GMP holds, the stock could be listed at Rs 182 which is a 21% listing gain.

The GMP is however down from Rs 51 recorded ahead of the price band announcement as the Street expected the issue price to be above Rs 150, the price at which the realtor had allotted equity shares on a private placement basis to 118 individual investors that included Bollywood icons Shah Rukh Khan, Amitabh Bachchan, the Roshan family, and veteran investor Ashish Kacholia.

The equity shares were allotted in 2024 at a price of Rs 150 apiece.

The Shah Rukh Khan Family Trust holds 675,000 shares investing Rs 10.1 crore while Amitabh Bachchan bought 666,670 shares at a cost of Rs 10 crore at the time of the private placement according to the Red Herring Prospectus (RHP) filed by the company. Meanwhile, Hrithik Rakesh Roshan and father Rakesh Roshan hold 70,000 shares each in the company.

Kacholia had to shell out nearly Rs 50 for 3,333,300 equity shares.

The Sri Lotus Developers IPO will close for subscription on August 1.Sri Lotus Developers raised Rs 399.20 crore through a private placement to 118 individuals and entities before filing its Draft Red Herring Prospectus (DRHP) in December 2024. The December round also attracted other celebrities like Ektaa Ravi Kapoor, her brother Tusshar Kapoor and their father Jeetendra.According to the Red Herring Prospectus, King Khan invested Rs 1.01 crore, while Amitabh Bachchan invested Rs 1 crore, both at Rs 150 per share during the private placement round.

The company drew significant interest from Bollywood because its promoter, Anand Kamalnayan Pandit, is also a prominent film producer and distributor.

Other marquee investors like Jagdish Master and DRChoksey Finserv have also invested in the company.

Through the IPO, which is a book building issue, Sri Lotus Developers plans to raise 792 crores.

Incorporated in February 2015, Sri Lotus Developers and Realty Limited is a developer of residential and commercial properties located in Mumbai, Maharashtra, specializing in redevelopment projects within the ultra-luxury and luxury segments of the western suburbs.

As of June 30, 2025, the company held a developable area of 0.93 million square feet, encompassing residential and commercial properties.

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