On the BSE, the inventory opened at Rs 179.10, marking a 19.4% premium over its IPO worth of Rs 150. It listed at Rs 178 on the NSE, reflecting an 18.7% premium.
The stable itemizing was largely according to expectations within the gray market, the place the inventory was quoting at a premium of round 18% forward of its debut.
The Rs 792 crore IPO, which was a wholly recent situation of 5.28 crore shares, noticed large investor demand, closing with a stellar total subscription of 74.10 instances. The Certified Institutional Patrons (QIB) phase noticed the best curiosity with a subscription of 175.61 instances, adopted by Non-Institutional Buyers (61.82 instances) and Retail Buyers (21.77 instances).
Sri Lotus Builders, a Mumbai-based actual property firm, focuses on ultra-luxury and luxurious residential and industrial redevelopment initiatives, significantly within the metropolis’s prosperous western suburbs. Its area of interest technique and premium positioning in the actual property market have drawn appreciable consideration from each institutional and retail buyers.
Now that the inventory is listed, must you purchase now?
Prashanth Tapse, Senior Vice President (Analysis) at Mehta Equities, shared his post-listing view:“Regardless of prevailing market volatility, Sri Lotus Builders listed broadly according to our expectations, supported by strong subscription and itemizing demand — a transparent reflection of investor confidence within the firm’s targeted technique and area of interest positioning within the premium actual property phase.We consider Sri Lotus is well-positioned to capitalize on structural development drivers in Mumbai’s high-value residential market, backed by its sturdy execution capabilities and luxury-focused improvement pipeline. From an funding standpoint, we advocate allotted buyers maintain the inventory for the long run to learn from the premium housing development story. For non-allotted buyers, a ‘Wait & Watch’ stance is prudent, as any post-listing corrections could supply a extra enticing entry level.”
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(Disclaimer: Suggestions, strategies, views and opinions given by the consultants are their very own. These don’t signify the views of The Financial Instances)
