Star-Studded Real Estate IPO Set to Launch
Mumbai-based Sri Lotus Developers & Realty Ltd. has received SEBI approval to launch a fully fresh ₹792 crore IPO, targeting redevelopment of ultra-luxury residences in Mumbai’s western suburbs Hindustan Times+14Hindustan Times+14The Economic Times+14Instagram+1The Economic Times+1LinkedIn+5Business Standard+5Moneycontrol+5.
Backing the issue is a glittering lineup of investors:
- Shah Rukh Khan Family Trust (₹10.1 crore stake) LinkedInHindustan Times+8Hindustan Times+8Realty Today+8
- Amitabh Bachchan (≈₹10 crore stake) LinkedIn+2The Economic Times+2The Economic Times+2
- Hrithik Roshan (≈₹1 crore stake) Facebook+11Moneycontrol+11Realty Today+11
- Ashish Kacholia (₹50 crore stake) Instagram+12Moneycontrol+12ETRealty.com+12
Other notable participants include Ajay Devgn, Ektaa Kapoor, Sara Ali Khan, Tiger Shroff, and Rajkummar Rao Moneycontrol+4Moneycontrol+4The Economic Times+4.
Strong Financial Growth & Project Pipeline
The firm reports stellar fiscal performance: revenue surged from ₹166.9 crore in FY23 to ₹461.6 crore in FY24 (+177%), with net profit rising to ₹119.8 crore—over sixfold gain Moneycontrol+3The Economic Times+3Business Standard+3. For H1 FY25, the company achieved ₹243.4 crore in revenue and ₹90.6 crore in PAT Business Standard.
Sri Lotus has:
- 3 completed projects
- 6 ongoing developments
- 7 upcoming projects, focused on premium 2BHK–4BHK and penthouse units priced from ₹3 crore up to ₹7 crore+ The Economic TimesHindustan Times+6Moneycontrol+6Hindustan Times+6ETRealty.com+3Hindustan Times+3Realty Today+3.
Use of IPO Proceeds
Approximately ₹550 crore of the IPO funds will be channelled into subsidiaries—Richfeel, Dhyan Projects, Tryksha Real Estate—specifically for construction of projects like Amalfi, The Arcadian, and Varun Hindustan Times+5Realty Today+5Business Standard+5. The remaining funds are earmarked for general corporate requirements The Economic Times+2Business Standard+2Hindustan Times+2.
Why This IPO Matters
- Celebrity endorsement: High‑profile backing enhances brand visibility and investor interest.
- Luxury redevelopment focus: Targets Mumbai’s high-demand, low-availability premium market.
- Proven performance: Rapid financial growth with significant revenue and profit gains.
- Capital infusion: Strong pipeline, with trio of ongoing and future projects needing fresh funds.
Bottom Line
Sri Lotus Developers’ IPO marks a rare convergence of Bollywood star power and solid real estate fundamentals. With robust financials, high-end project focus, and significant investor backing, it offers potential for strong market reception—though investors must weigh luxury real estate’s cyclicality and execution risks.
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