Sri Lotus Developers IPO: Shri Lotus Developers and Realty’s Initial Public Offer (IPO) is going to open for bid from 30 July next week after a long wait. In this luxury real estate company, many high-profile personalities including Bollywood veteran actor Shah Rukh Khan, Amitabh Bachchan, and well-known investor Ashish Kacholia have invested about 8 months before the IPO came. But even after eight months, none of them have benefited from one rupee.
Price did not increase even after 8 months
The IPO of Shri Lotus Developers and Realty is coming on the price band of Rs 140 to Rs 150 per share, which is equal to the price fixed during the private placement in November 2024. At that time the company had raised Rs 400 crore and allocated shares of Rs 150 per share to 118 investors. This is equal to the upper price band of its IPO.
These high-profile names are also included in investors
Apart from these, other names related to the film world like Hrithik Roshan, Rakesh Roshan, Tiger Shroff, Jitendra (Ravi Kapoor), Tusshar Kapoor, Sajid Nadiadwala and Manoj Bajpayee also invested between ₹ 10 lakh to ₹ 1 crore in this company, but all have still set up zero returns.
The stock market veteran investor Ashish Kacholia has also made a big bet of ₹ 50 crore, while veterans like Jagdish Master and DR Choksi Finserv have put ₹ 10-10 crore. However, despite the passing of eight months and the market surge, the market price of these investments still remains the same.
Information about IPO
The IPO of Sri Lotus Developers will open for bidding between July 30 to August 1 next week. The total size of IPO is Rs 792 crore. Out of this, 550 crore rupees will be given to three subsidiaries of the company, including richfel real estate, meditation projects, and TITI Real Estate. These funds will be used in Mumbai to manufacture premium projects such as “Amalfi”, “The Arcadian”, and “Varun”.
After the completion of the IPO subscription, the allocation of shares is expected on August 4 and its listing may be on 6 August. For IPO, the company has appointed Motilal Oswal Investment Advisors and Monark Networth Capital as Merchant Banker.
About company
Shri Lotus Developers have developed a total of 9.3 lakh square feet by June 2025 and its main focus is on luxury and ultra-linguistic residential projects, which are priced between Rs 3 crore to Rs 7 crore. Some of its penthouses are more expensive.
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