Sri Lotus Developers IPO: The public issue of Rs 792 crore of Mumbai’s famous real estate company Mr. Lotus Developers is set to be launched on July 30. The company has invested money from many investors including actors Shah Rukh Khan, Amitabh Bachchan, Hrithik Roshan as well as veterans like Ashish Kacholia. The draft for the IPO was deposited in December 2024 and the IPO was approved by the Capital Market Regulator SEBI in June this year.
The price band for bidding in IPO is Rs 140-150 per share. The same price was the same in the pre-IPO round. It is clear that the company is not having a different view for new investors. Lot size 100 shares have been kept. Only 5.28 crore new shares will be issued in the issue. Closing will be held on August 1, after which the allotment will be finalized on August 4 and the listing of shares will be on BSE, NSE on 6 August 2025.
Film producer is also company chairman Anand Pandit
The company develops high and real estate in Mumbai. It mainly focuses in luxury and ultra luxury sector through redevelopment projects. Sri Lotus is the chairman and managing director of the developers, Anand Kamalnayan Pandit, who is also a promoter of the company. He is also a film producer and distributor. His Anand Pandit Motion Pictures is a film studio, which has produced many films including Total Dhamaal, Missing, Sarkar 3, Great Grand Masti. He has also made many films, in which Amitabh Bachchan, Ajay Devgan and Emraan Hashmi have worked. However, films have always been secondary in his career. His goal is to earn a name in real estate.
Mr. Lotus Developers have sold flats and offices to many celebrities including Devgan, Sara Ali Khan, Karthik Aryan. Stars often rent the campus, mostly to film or television production house.
In December 2024, ₹ 400 crore was gathered in pre-IPO placement
In December 2024, the company raised Rs 400 crore through a private placement of 2.6 crore shares in the unlisted market and many film stars participated in this round. The Family Trust of Amitabh Bachchan and Shah Rukh Khan bought a stake of about Rs 10-10 crore in the company. Hrithik Roshan invests Rs 1 crore. Ajay Devgan, Ekta Kapoor, Sara Ali Khan, Rajkumar Rao, Tiger Shroff also participated in this funding round. Ashish Kacholia bought a share of Rs 50 crore in Shri Lotus Developers. Veteran Invester Jagdish Master and Drchoksey Finserv were also among investors.
The company’s chairman and MD Anand Pandit says, “Whether it is Kacholia, Master, Shah Rukh Khan or Bachchan, all are investors in the company and they are not here to earn money in 2 or 6 months short term. They have seen our journey and want to be a part of it. They are for long -term. I want to treat their new investors as well as their new investors here.”
How to use IPO money
Motilal Oswal Investment Advisors Limited, Book Running Lead Manager for Sri Lotus Developers IPO. Caffein Technologies Limited is a registrar. The company will use its IPO earnings to invest in subsidiaries- Richfel Real Estate Private Limited, Dhyan Projects Private Limited and Tri-Teach Real Estate Private Limited. This is so that the current projects- Amalfi, The Arcadion and Varun’s development and construction costs can be funded to some extent. Apart from this, this money will also be for general corporate purposes.
The operational income of Shri Lotus Developers and Realty increased by 19 percent to Rs 549.68 crore in FY 2024-25. It was Rs 461.57 crore a year ago. The net profit increased by 90 percent to Rs 228 crore, which was Rs 120 crore in FY 2023-24.