Sri Lotus Developers & Realty Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹150
Per ShareLot Size
100 Shares
Minimum Investment
₹15,000
Issue Size
₹792 Cr
Face Value
₹1
Per ShareIPO Type
Book Building
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Sri Lotus Developers & Realty Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
91.78%
Promoter Holding (Post-Issue)
81.86%
Issue Type
Book Building
ISIN
INE0V9Q01010
About the Company
We are a developer of residential and commercial premises in Mumbai, Maharashtra, with a focus in Redevelopment Projects in the Ultra Luxury Segment and Luxury Segment in the western suburbs. Since our establishment, we have aimed at building a brand centred around customer satisfaction, by creating environments that enhance our customers' lifestyles. Our operations are strategically located in Mumbai, one of the biggest real estate markets in India. We are led by our promoter, Anand Kamalnayan Pandit, who has over 24 years of experience in the real estate business.
Industry Overview
India is the fastest-growing major economy in the world and is expected to be one of the top economic powers in the coming decade with the real estate sector along with its ancillary industries being a significant growth driver of the Indian economy. The real estate market in India has grown at a CAGR of approximately 11% from USD 50 billion in 2008 to USD 180 billion in 2020 and is expected to further reach USD 1000 billion by 2030 and touch USD 5800 billion by 2047. By 2025, it is estimated to contribute 13% to the country's GDP. Mumbai is one of the biggest real estate markets in India. It has various micro-markets along with Mumbai City, suburbs, extended suburbs, and neighboring areas such as Thane and Navi Mumbai. In Mumbai, redevelopment plays a crucial role due to the limited availability of land, particularly in the western suburbs. This micro-market faces significant land constraints, making redevelopment a key factor in addressing the demand.
Company History
Our Company was incorporated as "AKP Holdings Private Limited", a private limited company under the Companies Act, 2013, pursuant to the certificate of incorporation issued by the Registrar of Companies, Maharashtra at Mumbai ("RoC") on February 17, 2015. Subsequently, the name of our Company was changed to "AKP Holdings Limited", upon conversion into a public company, pursuant to a board resolution dated November 22, 2024, and a special resolution passed by shareholders dated November 26, 2024, and a fresh certificate of incorporation was issued on December 05, 2024, by the Registrar of Companies, Central Processing Centre. Thereafter, the name of our Company was changed to `Sri Lotus Developers and Realty Limited', pursuant to a board resolution dated December 11, 2024, and a shareholder resolution dated December 12, 2024, and a fresh certificate of change of name was issued on December 16, 2024, by the Registrar of Companies, Central Processing Centre.
Products & Services
- The Company is a developer of residential and commercial premises in Mumbai, Maharashtra, with a focus in Redevelopment Projects in the Ultra Luxury Segment and Luxury Segment in the western suburbs.
Growth Strategy
- Strengthening our position in the Ultra Luxury Segment and Luxury Segment in western suburbs of Mumbai.
- Enhanced focus on our asset-light model.
- Expand into the micro-markets in the south central and eastern regions of Mumbai and other regions of western Mumbai.
- Continue to selectively develop Commercial Projects in Mumbai region.
- Focus on enhancing our brand visibility and reputation through development of quality real estate projects.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
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.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Strategic position in the Ultra Luxury Segment and Luxury Segment of the residential real estate market of Western Suburbs of Mumbai with a customer centric focus and strong pipeline of projects.
- Asset-light model for development of projects through development agreements, enabling us to maintain high level of cash flow generated from operating activities.
- End to end capabilities and timely completion of projects.
- Experienced Promoters and management team.
- Its business is dependent on the performance of, and the conditions affecting, the real estate micro markets with high geographical concentration in the Western Suburbs of Mumbai. As of June 30, 2025, all ongoing projects and most of the company's upcoming projects are in the Western Suburbs of Mumbai. Consequently, the company is exposed to risks from economic, regulatory and other changes as well as natural disasters in the Western Suburbs of Mumbai, which in turn may affect our ability to ensure sale of projects and pricing of units in such projects.
- Inability to complete its Ongoing Projects and Upcoming Projects by their respective expected completion dates or at all could have a material adverse effect on the company business, results of operations and financial condition.
- As of June 30, 2025, the company has 85 unsold units in the Completed Projects and 167 unsold units in its Ongoing Projects. If its not able to sell the company project inventories in a timely manner, then it may adversely affect its business, results of operations and financial condition.
- It is difficult to compare the company performance between periods, as its revenues from operations and expenses fluctuate significantly from period to period.
- The company is entirely dependent on third party contractors for the construction and development of its Projects and its largest contractor, Shree Gajanand Associates, accounts for 21.71%, 29.89% and 28.10% of the company total expenses for the Fiscal 2025, Fiscal 2024 and Fiscal 2023, respectively. Any failures on their part to perform their obligations could adversely affect its business, results of operations and financial condition.