Sri Lotus Developers raises ₹237 crore from anchor investors for IPO

Sri Lotus Developers raises ₹237 crore from anchor investors ahead of its IPO, which opens for subscription on July 30, 2025. The price band is set at ₹140-₹150 per share

Sri Lotus Developers and Realty has raised ₹237 crore from anchor investors ahead of its initial public offering (IPO), which will open for public subscription on Wednesday, 30 July 2025.

 

The company allocated approximately 1.58 crore equity shares at ₹150 per share on Tuesday, 29 July 2025, to anchor investors.

 

Some of the institutions that participated in the anchor round include Tata Mutual Fund, Mahindra Manulife Mutual Fund, Nippon Mutual Fund, Samsung India Mid & Small Focus Securities Master Investment Trust, Nuvama Asset Management Limited, HSBC Mutual Fund, SBI Mutual Fund, Citigroup Global Markets Mauritius Private Limited, Nomura Singapore Limited, and Future Generali India Life Insurance Co. Ltd.  ALSO READ | Sri Lotus Developers IPO opens today: GMP up 29%; should you apply? 

 

Out of the total 1.58 crore equity shares allocated to the anchor investors, about 53 lakh equity shares were allocated to three domestic mutual funds through a total of four schemes, accounting for 33.76 per cent of the total anchor book size.

 

Additionally, the IPO is entirely a fresh issue of shares, raising up to ₹792 crore, with no offer-for-sale component. The price band for the offer has been determined at ₹140–₹150 per equity share. At the top end of the price band, the company is valued at ₹7,331 crore.

 

The company aims to use the net proceeds of the issue to invest in its subsidiaries, part-funding the development and construction costs of its ongoing projects, and for general corporate purposes.

 

The company’s promoters are Anand Pandit, a film producer, Roopa Anand Pandit, and Ashka Anand Pandit. According to the draft red herring prospectus filed by the company, the trio held 80.76 per cent in the company ahead of the IPO.

 

In December 2024, the company raised about ₹407.6 crore through a private placement. The IPO will close on Friday, 1 August 2025.