Sri Lotus Developers Secures SEBI Approval for Rs 792-Crore IPO
Mumbai-based real estate company, Sri Lotus Developers, has received the green light from SEBI to proceed with its Rs 792-crore IPO. The firm, backed by prominent film stars and investors, is set to use the funds for luxury redevelopment projects.
Sri Lotus DevelopersSebi IpoLuxury Real EstateRedevelopment ProjectsProminent InvestorsReal Estate MumbaiMay 20, 2025
Sri Lotus Developers is primarily focused on the luxury-to-ultra luxury real estate sector, with a significant emphasis on redevelopment projects. The company has garnered attention for onboarding prominent investors, including actors Shah Rukh Khan, Amitabh Bachchan, Hrithik Roshan, and other notable figures such as Ashish Kacholia. The Rs 792 crore IPO is expected to be a fresh issue, with no secondary share sales planned.
In the most recent financial data available, the company reported revenue from operations of Rs 243.42 crore for the April-September 2024 period. For the fiscal year 2024, the topline stood at Rs 461.57 crore, marking a significant year-on-year increase. The financial results for FY25 are still awaited.
Prior to filing its IPO papers, Sri Lotus Developers raised Rs 400 crore through a private placement of more than 26 million shares at Rs 150 each in the unlisted market. This capital infusion allowed the company to onboard the prominent investors, who purchased small stakes. Shah Rukh Khan's family trust acquired shares worth Rs 10.1 crore, while Amitabh Bachchan purchased a stake of a similar value. Hrithik Roshan bought shares worth Rs 1 crore, and Ashish Kacholia purchased a larger volume of shares worth Rs 50 crore.
Other notable investors in the company include actors and producers such as Ajay Devgn, Ektaa Kapoor, Sara Ali Khan, Rajkumar Rao, and Tiger Shroff.
Of the amount proposed to be raised through the IPO, Rs 550 crore will be allocated to the company's ongoing residential projects, including Amalfi, The Arcadian, and Varun, located in various parts of Mumbai. The remaining funds will be used for general corporate purposes. Currently, the company has three completed projects and 13 projects under construction or in the pipeline.
Monarch Networth Capital Ltd and Motilal Oswal Investment Advisors are the bookrunners for this issue. Sri Lotus Developers' IPO is expected to bolster the company's position in the luxury real estate market and support its ambitious growth plans.
Frequently Asked Questions
What is the total value of Sri Lotus Developers' IPO?
The total value of Sri Lotus Developers' IPO is Rs 792 crore.
Which prominent investors are backing Sri Lotus Developers?
Prominent investors backing Sri Lotus Developers include actors Shah Rukh Khan, Amitabh Bachchan, Hrithik Roshan, and others such as Ashish Kacholia.
How much revenue did Sri Lotus Developers generate in the April-September 2024 period?
Sri Lotus Developers generated revenue of Rs 243.42 crore in the April-September 2024 period.
What is the primary focus of Sri Lotus Developers' real estate projects?
Sri Lotus Developers primarily focuses on the luxury-to-ultra luxury real estate sector, with a significant emphasis on redevelopment projects.
Who are the bookrunners for Sri Lotus Developers' IPO?
The bookrunners for Sri Lotus Developers' IPO are Monarch Networth Capital Ltd and Motilal Oswal Investment Advisors.
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