Sri Lotus Developers IPO Day 2 Live: Should You Apply Now? Check GMP & Details
The Sri Lotus Developers IPO opened on July 30, aiming to raise ₹792 crore, with shares priced in the band of ₹140–₹150 per share. By the end of Day 2, the IPO was booked 10.34 times, indicating solid interest from investors across categories.
Why Is Investor Demand So Strong for Sri Lotus Developers IPO?
The overwhelming demand stems from a mix of factors: strong anchor investments from Bollywood stars like Amitabh Bachchan, Shah Rukh Khan, and investor Ashish Kacholia, coupled with a refined asset‑light luxury real estate model focused on Mumbai’s premium suburbs.
Sri Lotus Developers IPO Subscription Status on Day 2
By mid-day 2, the IPO had been subscribed 7.88 times overall, including 5.51 times by QIBs, 12.33 times by NIIs, and 7.35 times by retail investors. By the close of day, this rose to 10.34 times, with NIIs at 15.95 times, retail at 8.89 times, and QIBs at 8.69 times.
What does the GMP indicate?
The IPO currently commands a Grey Market Premium (GMP) of approximately ₹42–₹45, suggesting a ~28‑30 percent listing gain over the upper price band, indicating bullish sentiment around the issue.
What Makes Sri Lotus Developers Special?
The company focuses on ultra‑luxury and luxury redevelopment projects in Mumbai’s western suburbs. It follows a joint development model rather than outright land acquisition, enabling faster execution and lower capital use. Its FY 25 net profit nearly doubled to ₹228 crore on revenues of around ₹550 crore, with robust EBITDA margins above 50%.
What Do Analysts Recommend?
Leading brokerages such as Anand Rathi, Arihant Capital, Angel One, and others have issued “Subscribe – Long Term” ratings. They highlight justified valuations at post‑issue P/E of ~32×, strong pricing power, and niche positioning in Mumbai’s luxury real estate market.
What Traders Say on X?
Social media is buzzing as investors and analysts share live reactions to the Sri Lotus Developers IPO. These comments offer real‑time sentiment and sentiment-driven direction.
“Issue size ₹792 cr, anchors lined up, price band ₹140‑150… long-term story intact”
“Strong retail interest on Day 2 and Day 3; GMP at ₹45 is building listing optimism”
“Ultra‑lux luxury niche, backed by Ashish Kacholia and Bollywood icons, visible growth story”
Should You Apply Now?
Here are key considerations for potential investors:
- Strong listing prospects given high GMP
- Attractive ultra‑luxury niche in Mumbai
- Presence of celebrity and institutional backing enhancing brand value
- High margins and asset‑light strategy
On the flip side, the valuation at 32× P/E is on the higher side for fresh listings. If you believe in long‑term growth in luxury housing and the company’s fundamentals, subscribing at the cut‑off may be worthwhile.

What Happens Next?
- IPO closes on August 1 at 5 PM IST
- Allotment likely on August 4
- Listing expected on BSE and NSE by August 6
Investors can track subscription trends, monitor GMP movements, and base decisions on personal risk appetite and belief in the company’s long‑term growth path.
Conclusion
With demand soaring on Day 2 of the Sri Lotus Developers IPO, driven by strong investor backing, high GMP, and promising fundamentals, the issue appears attractive especially for long‑term investors.
Though valuation may seem steep, the company’s focus on ultra‑luxury housing, strong profit margins, and asset‑light strategy reinforce its potential. If you are looking to invest in a niche real estate offering with celebrity validation and robust financials, applying now might be the right call.
FAQ’S
The IPO received strong demand on Day 2 with 10.34× overall subscription, showing high investor interest.
The GMP ranges from ₹42 to ₹45, with a price band of ₹140–₹150 per share, indicating possible listing gains.
The Day 2 live GMP is around ₹45, reflecting 28–30% expected premium on listing.
The live IPO price remains between ₹140 and ₹150 per share, as per the fixed price band.
Yes, Sri Lotus Developers IPO is proposed to be listed on both NSE SME and BSE SME platforms.
Disclaimer
This content is for informational purposes only and not financial advice. Always conduct your research.