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.
Fractional ownership is democratizing access to luxury real estate, offering investors a flexible and affordable way to co-own high-value assets.
Harsh Parikh, Partner, Khaitan & Co explains how Maharashtra's consolidation of property registration offices will benefit the real estate industry.
The aggressive pursuit of real estate development in Mumbai has raised concerns about similar practices in Goa. Land sharks and developers seem to be eyeing the state’s valuable land, posing a significant threat to the local environment and community.
The announcement of Coldplay's concert has led to a massive 33x surge in hotel searches in Mumbai, while rooms in Ahmedabad are being booked for up to Rs 50,000. Smart fans booked hotels in September when Coldplay tickets went on sale.
A director at Alpine Income Property Trust has made a notable sale of shares, reflecting a significant transaction in the real estate market. This article delves into the details of the sale and its implications for the company and the broader real estate
Ashishkumar Chauhan, CEO of the National Stock Exchange (NSE), highlights the significant shift in investment trends in India over the past decade. He emphasizes the potential for individuals to become billionaires through strategic stock market investmen