Sri Lotus Developers IPO: Bollywood Stars and Top Investors Bet on Mumbai Real Estate
Sri Lotus Developers and Realty Limited, a leading real estate developer in Mumbai, is poised to launch its Initial Public Offering (IPO) next Wednesday. The company has already secured significant private placements from notable figures in the entertainment industry and veteran investors. Bollywood icons Shah Rukh Khan, Amitabh Bachchan, the Roshan family, and Ashish Kacholia have all placed bets on this Mumbai-based developer.
The equity shares were allotted in 2024 at a price of Rs 150 apiece. The Shah Rukh Khan Family Trust holds 675,000 shares, investing Rs 10.1 crore, while Amitabh Bachchan acquired 666,670 shares at a cost of Rs 10 crore during the private placement, as detailed in the Red Herring Prospectus (RHP) filed by the company. Hrithik Rakesh Roshan and his father Rakesh Roshan each hold 70,000 shares. Ashish Kacholia acquired 3,333,300 equity shares for nearly Rs 50 crore.
The Sri Lotus Developers IPO will close for subscription on August 1. Prior to filing its Draft Red Herring Prospectus (DRHP) in December 2024, the company raised Rs 399.20 crore through a private placement to 118 individuals and entities. This round also saw participation from other celebrities such as Ektaa Ravi Kapoor, her brother Tusshar Kapoor, and their father Jeetendra.
Anand Kamalnayan Pandit, the promoter of Sri Lotus Developers, is a well-known film producer and distributor, which has helped the company attract significant Bollywood interest. Other marquee investors like Jagdish Master and DRChoksey Finserv have also backed the company.
Through this book-built IPO, Sri Lotus Developers aims to raise Rs 792 crore. The company, incorporated in February 2015, focuses on developing residential and commercial properties in Mumbai, Maharashtra, with a particular emphasis on redevelopment projects in the ultra-luxury and luxury segments of the western suburbs.
As of June 30, 2025, Sri Lotus Developers had a developable area of 0.93 million square feet, encompassing both residential and commercial projects. This robust portfolio and strategic focus on high-end properties in Mumbai position the company for significant growth and investor interest.
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