Sri Lotus Developers and Realty Secures SEBI Approval for ₹792 Crore IPO
Sri Lotus Developers and Realty has received the final nod from SEBI to launch its ₹792 crore IPO. The company has seen significant investments from Bollywood celebrities and is set to use the proceeds for ongoing and upcoming projects.
IpoReal EstateSebiSri Lotus Developers And RealtyBollywood InvestmentsReal EstateMay 20, 2025
The company has garnered significant attention due to its impressive lineup of investors, which includes Bollywood stars such as Amitabh Bachchan, Shah Rukh Khan, Ajay Devgn, Hrithik Roshan, Sara Ali Khan, Ektaa Kapoor, Tiger Shroff, and Rajkumar Rao. These celebrities have recently bought small stakes in Sri Lotus Developers and Realty, adding a star-studded touch to the company's investor base.
In December 2024, the company raised approximately ₹400 crore through a private placement of 26.61 million shares at ₹150 per share. Notable among these transactions, Amitabh Bachchan purchased around 6.7 lakh shares for ₹10 crore, while the Shah Rukh Khan Family Trust acquired about 6.75 lakh shares for ₹10.1 crore. Other significant investors include Hrithik Roshan, who bought 70,000 shares for slightly over ₹1 crore, and Ashish Kacholia, who purchased 33.33 lakh shares for ₹50 crore.
The proceeds from the fresh issue, to the extent of ₹550 crore, will be used for investments in the company's subsidiaries, including Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate. These funds will be utilized for part-funding the development and construction costs of ongoing projects. As of November 30, 2024, Sri Lotus Developers and Realty has completed three projects, has six ongoing projects, and seven upcoming projects in the pipeline.
The company has shown remarkable financial growth, with its revenue from operations increasing by 176.61% from ₹166.87 crore in FY23 to ₹461.57 crore in FY24. Profit after tax surged by 635.57%, from ₹16.29 crore in FY23 to ₹119.81 crore in FY24. For the six months ended September 30, 2024, revenue from operations stood at ₹243.42 crore, and profit after tax was ₹90.63 crore.
Monarch Networth Capital and Motilal Oswal Investment Advisors are the book-running lead managers for the IPO, while KFin Technologies is the registrar of the issue. The company's strong financial performance and the backing of high-profile investors are expected to bolster investor confidence in the IPO.
Sri Lotus Developers and Realty is poised to leverage the funds raised to expand its project portfolio and strengthen its position in the real estate market. The company's strategic investments and financial prudence are anticipated to drive further growth and deliver value to its shareholders.
Frequently Asked Questions
What is the total amount Sri Lotus Developers and Realty plans to raise through its IPO?
Sri Lotus Developers and Realty plans to raise ₹792 crore through its initial public offering (IPO).
Which Bollywood celebrities have invested in Sri Lotus Developers and Realty?
Bollywood celebrities including Amitabh Bachchan, Shah Rukh Khan, Ajay Devgn, Hrithik Roshan, Sara Ali Khan, Ektaa Kapoor, Tiger Shroff, and Rajkumar Rao have invested in Sri Lotus Developers and Realty.
How much did Sri Lotus Developers and Realty raise in a private placement in December 2024?
Sri Lotus Developers and Realty raised approximately ₹400 crore through a private placement of 26.61 million shares at ₹150 per share in December 2024.
What are the main uses for the proceeds from the IPO?
The proceeds from the IPO, to the extent of ₹550 crore, will be used for investments in the company's subsidiaries, including Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate, for part-funding the development and construction costs of ongoing projects.
What was the company's revenue from operations in FY24?
Sri Lotus Developers and Realty's revenue from operations in FY24 was ₹461.57 crore, a 176.61% increase from ₹166.87 crore in FY23.
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