Sri Lotus Developers, a prominent player in the luxury and ultra-luxury real estate market of Mumbai's western suburbs, is set to launch an Initial Public Offering (IPO) to raise Rs 792 crore. Backed by Bollywood stars and veteran investors, the company a
Sri Lotus DevelopersIpoReal EstateLuxury MarketMumbaiReal Estate NewsJan 05, 2025
Sri Lotus Developers is backed by Bollywood stars such as Shah Rukh Khan, Amitabh Bachchan, and Hrithik Roshan, along with other notable investors like Ashish Kacholia. Other Bollywood personalities like Ajay Devgan, Sara Ali Khan, and Rajkumar Rao are also investors.
The IPO aims to raise Rs 792 crore to fund ongoing projects and corporate expenses. Specifically, Rs 550 crore will be used to invest in subsidiaries for part-funding development and construction costs of ongoing projects, and for general corporate purposes.
Sri Lotus Developers focuses on the ultra-luxury and luxury segments of the residential real estate market in Mumbai's western suburbs. They have a strong customer-centric approach and a robust pipeline of projects.
For the fiscal year 2024, Sri Lotus Developers reported a net profit of Rs 120 crore with revenue from operations of Rs 461.57 crore. For the six months ending September, the revenue from operations was Rs 243.42 crore, and the profit after tax was Rs 90.63 crore.
Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers for the Sri Lotus Developers IPO.
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