Sri Lotus Developers & Realty Ltd - IPO

Sri Lotus Developers & Realty Ltd IPO Details

Initial public offering of 52,813,724 equity shares of face value of Re. 1 each (Equity Shares) of the company for cash at a price of Rs. 150.00 per equity share (including a share premium of Rs.149.00 per equity share) (Issue Price) aggregating to Rs. 792.00 crores (the Issue). The issue shall constitute 10.81% of the post-issue paid-up equity share capital of the company.The issue includes a reservation of up to 147,058 equity shares aggregating up to Rs. 2.00 crores (constituting 0.03% of the post-issue paid-up equity share capital of the company) for subscription by eligible employees (the Employee Reservation Portion). The company, in consultation with the book running lead managers (brlms), offered a discount of 9.33% of the issue price to eligible employees bidding in the employee reservation portion (Employee Discount). The issue less the employee reservation portion is hereinafter referred to as the Net Issue. The issue and the net issue shall constitute 10.81% and 10.78%, respectively, of the post-issue paid-up equity share capital of the company.The face value of the equity share is Re. 1 each and the issue price is 150 times the face value of the equity shares.

Objective of issue

Investment in its subsidiary Richfeel Real Estate Pvt Ltd, Dhyan Projects Pvt Ltd and Tryksha Real Estate Pvt Ltd for part-funding development and construction cost of its ongoing projects Amalfi the Arcadian and Varun respectivelt. General corporate purposes.

Sri Lotus Developers & Realty Ltd Contact Details

Sri Lotus Developers & Realty Ltd, Karvy Selenium Tow-B, 31&32 Financial Dist, Nanakramguda, Hyderabad-500032

Phone - 91-40-67162222

Fax - 91-40-23001153/23420814

Email - investors@lotusdevelopers.com

Website - www.lotusdevelopers.com