New Delhi, July 30 -- The initial public offering (IPO) of Sri Lotus Developers has seen robust demand from both retail and qualified institutional buyers on its first day of bidding. The IPO, which opened today and is set to close on Friday, August 01, was oversubscribed. The issue received bids for 14.27 crore shares against the total offer of 3.70 crore shares, resulting in an overall subscription of 3.86 times by the end of Day 1, according to exchange data.

Qualified institutional buyers showed strong interest, with their portion subscribed to 5.68 times, while retail investors also showed greater enthusiasm, with their portion booked 3.05 times. The NII portion was booked at 3.32 times.

Sri Lotus Developers aims to raise Rs.792 cr...