Sri Lotus Developers IPO allotment status: Check application, latest GMP & listing date

Sri Lotus Developers & Realty is likely to finalize the basis of allotment of its shares on Monday, August 04. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Tuesday, August 05. The real estate company saw a strong response from the investors.

The IPO of Mumbai-based Sri Lotus Developers & Realty was open for bidding between July 31 and August 01. It had offered its shares in the price band of Rs 140-150 per share with a lot size of 100 shares. The company raised a total of Rs 792 crore via IPO, which was entirely a fresh shares sale of 5,28,00,000 equity shares.

The issue was overall subscribed a decent 69.14 times fetching over 34.79 lakh applications. The allocation for the qualified institutional bidders (QIBs) was subscribed a solid 163.90 times The portion for non-institutional investors (NIIs) booked 57.71 times. Allocations for retail investors and employees were booked 20.28 times and merely 19.84 times, respectively.

The grey market premium (GMP) of Brigade Hotel Ventures has seen a sharp correction amid weak market sentiments. Last heard, the company was commanding a GMP of Rs 36-38 per share in the unofficial market, suggesting a listing pop of around 25 per cent the investors. The GMP stood at Rs 44-45 4when the issue had opened for bidding.

Incorporated in February 2015, Mumbai-Sri Lotus Developers and Realty is a developer of residential and commercial properties located in Mumbai, Maharashtra, specializing in redevelopment projects within the ultra-luxury and luxury segments of the western suburbs. It possesses a developable area of 0.93 million square feet.

Motilal Oswal Investment Advisors and Monarch Networth Capital are the book-running lead managers of the Sri Lotus Developers IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE on Wednesday, August 6.

JM Financial and ICICI Securities are the book-running lead managers of the Sri Lotus Developers & Realty, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed on both BSE and NSE on Wednesday, August 06. Investors, who had bid for the issue of Sri Lotus Developers, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Sri Lotus Developers & Realty Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.