Sri Lotus Developers and Realty Secures SEBI Nod for ₹792 Crore IPO
Sri Lotus Developers and Realty, a prominent real estate developer in Mumbai, has received SEBI approval for its initial public offering (IPO) to raise ₹792 crore. The company specializes in redevelopment projects in the ultra-luxury and luxury segments.
IpoReal EstateMumbaiRedevelopmentLuxury PropertiesReal Estate MumbaiMay 20, 2025
The firm is well-known for its specialization in redevelopment projects, particularly in the ultra-luxury and luxury segments within the western suburbs of Mumbai. Sri Lotus Developers and Realty operates in the construction of both residential and commercial properties, leveraging over 24 years of industry expertise under the leadership of promoter Anand Kamalnayan Pandit.
In December, the company generated approximately ₹400 crore through a private placement of 26.61 million shares, priced at ₹150 each. Notable investors include Bollywood legend Amitabh Bachchan, who acquired around 6.7 lakh shares for ₹10 crore, and the Shah Rukh Khan Family Trust, which bought about 6.75 lakh shares for ₹10.1 crore. Other prominent investors include Hrithik Roshan, who purchased 70,000 shares for a little over ₹1 crore, and Ashish Kacholia, who invested in 33.33 lakh shares for ₹50 crore.
For the six-month period ending September 30, 2024, Sri Lotus Developers and Realty reported a revenue from operations of ₹243.42 crore and a profit after tax of ₹90.63 crore. The company's projects are categorized into three types: Greenfield Projects, Redevelopment Projects, and Joint Development Projects.
The IPO, with a face value of Re 1, involves a new issuance of shares totaling up to ₹792 crore, with no offer-for-sale component by existing shareholders. The proceeds from the fresh share issuance, amounting to ₹550 crore, will be utilized for investments in its subsidiaries, namely Richfeel Real Estate Private Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited, to partially fund the development and construction costs of its ongoing projects, Amalfi, The Arcadian, and Varun, respectively. The remaining funds will be used for general corporate purposes.
Monarch Networth Capital Limited and Motilal Oswal Investment Advisors Limited are serving as the book-running lead managers for the issue, while KFin Technologies Limited acts as the registrar. Investors are advised to consult with certified experts before making any investment decisions.
Frequently Asked Questions
What is the purpose of Sri Lotus Developers and Realty's IPO?
The purpose of Sri Lotus Developers and Realty's IPO is to raise ₹792 crore for investments in its subsidiaries and to fund the development and construction costs of its ongoing projects, as well as for general corporate purposes.
Who are some of the notable investors in Sri Lotus Developers and Realty?
Notable investors in Sri Lotus Developers and Realty include Bollywood legend Amitabh Bachchan, the Shah Rukh Khan Family Trust, Hrithik Roshan, and Ashish Kacholia.
What types of projects does Sri Lotus Developers and Realty undertake?
Sri Lotus Developers and Realty undertakes three types of projects: Greenfield Projects, Redevelopment Projects, and Joint Development Projects, with a specialization in the ultra-luxury and luxury segments.
How much revenue did Sri Lotus Developers and Realty generate in the six-month period ending September 30, 2024?
Sri Lotus Developers and Realty generated a revenue from operations of ₹243.42 crore and a profit after tax of ₹90.63 crore in the six-month period ending September 30, 2024.
Who are the book-running lead managers for the IPO?
Monarch Networth Capital Limited and Motilal Oswal Investment Advisors Limited are the book-running lead managers for the IPO, while KFin Technologies Limited acts as the registrar.
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