Sri Lotus Developers Gets SEBI Nod for ₹792 Crore IPO.

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).