Backed by Bollywood Icons Amitabh Bachchan and Shah Rukh Khan
Mumbai, May 20, 2025:
Sri Lotus Developers & Realty Ltd, a Mumbai-based luxury real estate firm backed by Amitabh Bachchan and Shah Rukh Khan, has received SEBI approval for its ₹792 crore Initial Public Offering (IPO).
The IPO will be a fresh issue of equity shares. There is no offer-for-sale (OFS) component. The company had filed its draft papers with SEBI on December 24, 2024.
Big Bollywood and Investor Buzz
Several Bollywood celebrities hold stakes in Sri Lotus Developers.
Notable names include Ajay Devgn, Hrithik Roshan, Sara Ali Khan, Ektaa Kapoor, Tiger Shroff, and Rajkummar Rao.
In December 2024, the company raised ₹400 crore through a private placement of shares at ₹150 each.
Key investments:
- Amitabh Bachchan: ₹10 crore (6.7 lakh shares)
- Shah Rukh Khan Family Trust: ₹10.1 crore (6.75 lakh shares)
- Hrithik Roshan: Over ₹1 crore (70,000 shares)
- Ashish Kacholia: ₹50 crore (33.33 lakh shares)
IPO Fund Utilization
Out of ₹792 crore, about ₹550 crore will be used for funding ongoing projects via subsidiaries:
- Richfeel Real Estate Pvt Ltd
- Dhyan Projects Pvt Ltd
- Tryksha Real Estate Pvt Ltd
These funds will support construction of:
- Amalfi
- The Arcadian
- Varun
The rest will go toward general corporate purposes.
Luxury-Focused Developer in Mumbai
Sri Lotus Developers builds luxury and ultra-luxury residential projects in Mumbai’s western suburbs.
The company offers:
- 2BHK & 3BHK units priced between ₹3 crore and ₹7 crore
- 3BHK, 4BHK+, and penthouses priced above ₹7 crore
- Commercial office spaces
As of November 30, 2024:
- 3 projects completed
- 6 ongoing
- 7 upcoming
Its projects span Greenfield, Redevelopment, and Joint Development models.
Strong Financial Performance
The company reported impressive growth in FY24:
- Revenue: ₹461.57 crore, up 176.61% from ₹166.87 crore in FY23
- Profit after Tax (PAT): ₹119.81 crore, up 635.57% from ₹16.29 crore in FY23
For H1 FY25 (April–September 2024):
- Revenue: ₹243.42 crore
- PAT: ₹90.63 crore
Leadership and Market Presence
Promoter Anand Kamalnayan Pandit has over 24 years of experience in real estate.
The brand is known for:
- Customer-focused design
- Execution strength
- Premium project delivery
According to Anarock, Mumbai led all major Indian real estate markets (2019–2023) in supply, absorption, and base price.
Listing and Lead Managers
The IPO is managed by:
- Monarch Networth Capital Ltd
- Motilal Oswal Investment Advisors Ltd
KFin Technologies Ltd is the registrar.
The shares will be listed on the National Stock Exchange (NSE).
About the author
Neha Nikharge is Assistant Editor at Awesome TV and a writer for AWSM Times. Neha covers Bollywood, OTT releases, celebrity interviews and pop culture for South Asian audiences in the US and around the world, and has written more than 4,500 stories for Awesome TV. Story tips and corrections: hello@awesometv.com.
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