Bollywood Stars Shine in Sri Lotus Developers' Rs 792 Crore IPO

Sri Lotus Developers, backed by Bollywood stars and investor Ashish Kacholia, plans to raise Rs 792 crore through an IPO. Notable investors include Amitabh Bachchan and Shah Rukh Khan. The funds will support subsidiary investments and project developments. The firm has shown significant revenue growth in recent years.

Sri Lotus Developers and Realty Ltd, supported by Bollywood luminaries such as Amitabh Bachchan and Shah Rukh Khan, has filed papers with Sebi for a Rs 792 crore IPO.

The offering will be exclusively a fresh issuance of shares, with a portion reserved for employees. The funds are allocated towards investing in subsidiaries Richfeel Real Estate, Dhyan Projects, and Tryksha Real Estate, and aiding ongoing developments like Amalfi and The Arcadian.

Bolstered by strong financial growth, including a revenue surge to Rs 461.57 crore in fiscal 2024, the company is positioned in luxury real estate, focusing on redevelopment projects in Mumbai's western suburbs.

(With inputs from agencies.)