The initial public offering of Mumbai-based real estate firm Sri Lotus Developers and Realty Ltd. closed with a strong demand on Aug. 1. The mainboard IPO was overall booked 74.1 times on the last day of subscription.
The public offer received applications for more than 274.25 crore shares against 3.7 crore shares available for bidding.
The IPO witnessed an overwhelming response across all investor categories. The Qualified Institutional Buyers (QIBs) led the demand by subscribing their quota 175.61 times. The retail portion of the IPO was booked 21.77 times, while the Non-Institutional Investors (NIIs) subscribed the issue 61.82 times.
Following the successful closure of the subscription window, the investors are waiting for the company to finalise the share allotment status. Sri Lotus Developers is scheduled to finalise the IPO allotment status on Aug. 4.
Investors who applied for the IPO can check their allotment status on the official websites of the NSE, BSE and the issue registrar, Kfin Technologies Ltd.
Steps To Check Sri Lotus Developers IPO Allotment On NSE:
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Go to the NSE IPO allotment page here.
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Select the option that says ‘Equity & SME IPO bid details’.
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Pick ‘Sri Lotus Developers’ from the issue symbol dropdown.
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Enter both your PAN and Application Number.
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Click on ‘Submit’ to see your allotment status.
Steps To Check Sri Lotus Developers IPO Allotment On BSE:
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Open the BSE IPO allotment page here.
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Select ‘Equity’ as the issue type.
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Choose ‘Sri Lotus Developers’ from the dropdown menu.
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Enter either your Application Number or PAN.
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Fill in the captcha code exactly as shown.
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Click on ‘Search’ to view your allotment status.
Steps To Check Sri Lotus Developers IPO Allotment On Kfin Technologies:
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Visit the IPO Status page on the KFintech website here.
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From the IPO dropdown menu, choose ‘Sri Lotus Developers’.
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Select the input option as PAN, Application number, or Demat Account.
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Enter your PAN, Application number, or Demat Account details based on the option selected above.
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Enter the captcha details to proceed.
Sri Lotus Developers IPO GMP
The grey market premium (GMP) for Sri Lotus Developers IPO stood at Rs 37 per share as of Aug. 2, 10:31 a.m. The latest GMP indicates an estimated listing price of Rs 187 apiece. Shares of the company are expected to be listed at a premium of 24.67% over the upper limit of the IPO price band.
Note: GMP is not an official source of data and is based on speculation.
Sri Lotus Developers IPO Key Details
Sri Lotus Developers IPO was a book-building issue worth Rs 792 crore, comprising entirely a fresh issue of 5.28 crore shares. The IPO opened for bidding on July 30 and closed on Aug. 1.
The price band for this IPO was set at Rs 140 to Rs 150 per share.
Following the finalisation of the share allotment, the company is scheduled to process refunds and transfer of shares to the Demat accounts on Aug. 6.
Shares of Sri Lotus Developers and Realty Ltd. are tentatively scheduled to be listed on the NSE and BSE on Aug. 6.
About Sri Lotus Developers And IPO Objective
Founded in 2015, Sri Lotus Developers specialises in luxury real estate in Mumbai’s western suburbs, focusing on redevelopment projects.
The company is backed by prominent Bollywood celebrities, including Shah Rukh Khan, Amitabh Bachchan and the Roshan family.
Sri Lotus Developers plans to utilise the IPO proceeds primarily for investment in its subsidiaries and general corporate purposes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
. Read more on IPOs by NDTV Profit.