Sri Lotus Developers shares leap 3% to contemporary 52-week excessive after Capital Group buys almost 2% stake
Sri Lotus Developers in a press launch mentioned Capital International, the international stage’s largest energetic fund supervisor, picked up the stake as promoter Anand Kamalnayan Pandit offered 97.70 lakh shares or 2% of the corporate’s complete stake by an open-market transaction at Rs 199.90 apiece, taking the overall value of his stake sale to greater than Rs 195 crore.
Anand Kamalnayan’s stake sale was achieved to adjust to the relevant minimal public shareholding necessities, taking promoter and promoter-group holding down from 81.87% to 79.87%, the corporate mentioned. “The current promoter transaction additionally represents a step in the direction of broadening the general public shareholding base,” it added.
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Sri Lotus Developers share worth
Sri Lotus Developers shares hit a contemporary 52-week excessive of Rs 215 apiece on Friday. The shares made an honest market debut in August final 12 months, itemizing at a premium of almost 19% over IPO worth at Rs 178 apiece on NSE.
This got here after the corporate’s Rs 792 crore IPO, which totally comprised a contemporary challenge of 5.28 crore shares, drew robust curiosity from all classes of traders, closing with an total subscription of greater than 74 instances. After the market debut, the inventory jumped round 23% in the identical month to hit a lifetime excessive of Rs 218.49 apiece, earlier than starting to sharply decline.
The inventory greater than halved in lower than eight months to hit a lifetime low of Rs 102 apiece in March this 12 months. The inventory has greater than doubled since then to commerce at Rs 215 apiece in the present day.
Sri Lotus Developers Q1 Results
Sri Lotus Developers in August reported a 77% enhance in its consolidated internet revenue to Rs 45.72 crore for the primary quarter of FY27, from Rs 25.78 crore reported within the year-ago interval.
Total revenue rose to Rs 145.99 crore within the first quarter of the 2026-27 fiscal from Rs 68.09 crore within the corresponding interval of the earlier monetary 12 months.
Also learn | Sri Lotus Developers & Realty eyes Rs 1,600 cr revenue from commercial project in Mumbai
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