Bollywood star and Ashishka Cholia have supported Sri Lotus developers and made a real estate developer engaged in the construction of residential and commercial facilities in Mumbai, Maharashtra, Limit Limited. Through initial public recruitment (IPO).
The company submitted its IPO paper to SEBI on December 24, 2024.
An IPO with a face value of Re 1 is a fresh issue for stocks up to Rs 792 without offering components for sale.
From superstars like Amitabh Bachchan and Shah Rukh Khan to other big names like Ajay Devgn, Hrithik Roshan, Sara Ali Khan, Ektaa Kapoor, Tiger Shroff and Rajkumar Rao, everyone recently bought small bets at the company.
In December, the developers of SRI Lotus raised around Rs 400 through a private placement of 26.61 million shares at Rs 150 per share. Among investors, Bollywood icon Amitabh Bachchan bought about 6.7 rak shares for Rs 10 trillion, while Shah Luk Khan Family Trust acquired about 675 million shares for Rs 10.1 rak. Other notable investors include Hrithik Roshan. Hrithik Roshan purchased 70,000 shares, just above Rs 1 trillion. Ace investor Ashushka Cholia purchased a share of Rs 333,300,000 for Rs 50.
The revenues from the fresh issue to the Rs 550 range will be used to invest in subsidiaries, Richfeel Real Estate Limited, Dhyan Projects Private Limited, and Tryksha Real Estate Private Limited. General business purposes.
Since its founding, Sri Lotus Developers and Realty Ltd has focused on creating a customer-centric environment that enhances lifestyles, establishing a brand focused on customer satisfaction.
The company's operations are based in Mumbai, one of India's largest real estate markets. According to an Anagol report from 2019 to 2023, the Mumbai Metro Area (MMR) ranked among the top seven in the Indian residential real estate market in terms of supply, absorption and average base selling price. In 2017, the company began acquiring land in the western suburbs of Mumbai, focusing on the ultra-luxury, luxury housing market. Its growth could be attributed to its promoters, detailed market knowledge, design and executive capabilities, sales capabilities and the reliable “Lotus Developer” brand.
The developers of Sri Lotus are led by promoter Anand Kamalnayan Pandit, who brings over 24 years of real estate experience. The company's projects fall into three categories: Greenfield Project, Redevelopment Project, and Joint Development Project.
Real estate agents focus on developing ultra-luxurious, luxury home properties, including 2bhk and 3bhk flats (“luxury housing segments”) and 3bhk, 4bhk and penthouse prices (“Ultra Luxury Residential Segment and Spase segment Segment”) and 3bhk, 4bhk and penthouse properties.
As of November 30, 2024, the company has completed three projects, six ongoing projects and seven upcoming projects.
Revenue from our business increased 176.61% from RS166.87 crore in 2023 to 461.57 crore in 2024. Post-tax profit increased by 635.57% in 2024 to RS116.29 fiscal year 2023.
For the six months ended September 30, 2024, revenue from the business was 243.42 Rs. with profits following a tax of 90.63 Rs.
Monarch Networth Capital Limited and Motilal Oswal Investment Advisors Limited are the lead managers on which the books are run, and KFIN Technologies Limited is the registrar in this issue. It is proposed that the shares be listed on the National Stock Exchange of India and BSE Limited.
